Lord Abbett & CO. LLC reduced its position in shares of Walmart Inc. (NYSE:WMT – Free Report) by 2.0% in the third quarter, Holdings Channel reports. The fund owned 3,728,887 shares of the retailer’s stock after selling 74,365 shares during the quarter. Walmart makes up about 0.9% of Lord Abbett & CO. LLC’s portfolio, making the stock its 16th biggest position. Lord Abbett & CO. LLC’s holdings in Walmart were worth $301,108,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brophy Wealth Management LLC purchased a new position in shares of Walmart in the 3rd quarter worth $2,072,000. Fisher Asset Management LLC lifted its holdings in shares of Walmart by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock valued at $3,848,533,000 after acquiring an additional 2,107,197 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Walmart by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,236,769 shares of the retailer’s stock valued at $2,522,369,000 after acquiring an additional 350,881 shares during the last quarter. Oxbow Advisors LLC grew its position in Walmart by 45.0% in the third quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock worth $2,298,000 after acquiring an additional 8,834 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Walmart by 21.9% during the third quarter. Crossmark Global Holdings Inc. now owns 587,001 shares of the retailer’s stock worth $47,400,000 after acquiring an additional 105,430 shares during the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein raised their price objective on Walmart from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Telsey Advisory Group raised their price target on Walmart from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Guggenheim boosted their price objective on shares of Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial raised their target price on shares of Walmart from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley upped their price target on shares of Walmart from $89.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.33.
Insider Activity
In other news, major shareholder S Robson Walton sold 1,804,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $79.18, for a total value of $142,840,720.00. Following the completion of the sale, the insider now owns 605,979,318 shares of the company’s stock, valued at $47,981,442,399.24. This trade represents a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total value of $2,348,559.36. Following the transaction, the chief executive officer now owns 3,873,053 shares in the company, valued at approximately $312,322,993.92. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,309,091 shares of company stock worth $183,375,539. Corporate insiders own 45.58% of the company’s stock.
Walmart Stock Performance
Shares of NYSE:WMT opened at $94.26 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $757.19 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 4.47 and a beta of 0.54. The firm has a 50 day moving average of $86.10 and a 200 day moving average of $76.94. Walmart Inc. has a 52 week low of $50.51 and a 52 week high of $96.18.
Walmart (NYSE:WMT – Get Free Report) last released its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. On average, sell-side analysts predict that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.
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.
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