Fifth Third Bancorp Increases Stake in Walmart Inc. (NYSE:WMT)

Fifth Third Bancorp increased its holdings in shares of Walmart Inc. (NYSE:WMT) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,617,938 shares of the retailer’s stock after buying an additional 67,421 shares during the period. Walmart comprises 0.9% of Fifth Third Bancorp’s investment portfolio, making the stock its 25th largest holding. Fifth Third Bancorp’s holdings in Walmart were worth $229,829,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in Walmart during the 4th quarter worth approximately $25,000. Horizon Financial Services LLC grew its holdings in Walmart by 1,007.7% during the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after acquiring an additional 262 shares in the last quarter. Noble Wealth Management PBC acquired a new position in Walmart during the 4th quarter worth approximately $37,000. Mizuho Bank Ltd. acquired a new position in Walmart during the 4th quarter worth approximately $41,000. Finally, Nexus Investment Management ULC acquired a new position in Walmart during the 1st quarter worth approximately $49,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Stock Down 1.7%

Shares of Walmart stock opened at $95.70 on Thursday. The company has a market cap of $765.70 billion, a P/E ratio of 39.71, a PEG ratio of 4.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. Walmart Inc. has a one year low of $65.90 and a one year high of $105.30. The firm has a fifty day moving average of $95.31 and a two-hundred day moving average of $94.01.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. Walmart’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were issued a $0.235 dividend. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio is presently 40.17%.

Insider Activity

In other Walmart news, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $88.66, for a total transaction of $195,052.00. Following the completion of the transaction, the executive vice president now directly owns 398,024 shares in the company, valued at approximately $35,288,807.84. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathryn J. Mclay sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $85.95, for a total transaction of $343,800.00. Following the transaction, the executive vice president now owns 888,309 shares of the company’s stock, valued at $76,350,158.55. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,534 shares of company stock worth $12,833,664 in the last 90 days. 45.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI boosted their price target on shares of Walmart from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. KeyCorp boosted their price target on shares of Walmart from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday. Roth Mkm reiterated a “buy” rating and set a $108.00 price target (up previously from $97.00) on shares of Walmart in a report on Friday, February 21st. Raymond James lowered their price target on shares of Walmart from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, UBS Group lowered their target price on shares of Walmart from $112.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Walmart Profile

Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.