Sterling Capital Management LLC increased its position in shares of Walmart Inc (NYSE:WMT) by 8.5% during the third quarter, HoldingsChannel.com reports. The fund owned 38,875 shares of the retailer’s stock after acquiring an additional 3,033 shares during the quarter. Sterling Capital Management LLC’s holdings in Walmart were worth $3,651,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. purchased a new position in Walmart in the 2nd quarter worth about $111,000. Amussen Hunsaker Associates LLC purchased a new position in Walmart in the 2nd quarter worth about $152,000. ELM Advisors LLC purchased a new position in Walmart in the 3rd quarter worth about $152,000. Harvest Fund Management Co. Ltd purchased a new position in Walmart in the 3rd quarter worth about $162,000. Finally, Kiley Juergens Wealth Management LLC purchased a new position in Walmart in the 2nd quarter worth about $165,000. 29.42% of the stock is currently owned by hedge funds and other institutional investors.
WMT has been the topic of a number of analyst reports. MKM Partners dropped their price target on Walmart from $107.00 to $105.00 in a research note on Monday, October 22nd. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of Walmart in a research note on Thursday, August 16th. ValuEngine raised Walmart from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Argus set a $112.00 price target on Walmart and gave the stock a “buy” rating in a research note on Friday, August 17th. Finally, Citigroup lifted their price target on Walmart from $101.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Walmart currently has a consensus rating of “Buy” and an average price target of $103.16.
Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 16th. The retailer reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.07. The firm had revenue of $127.06 billion during the quarter, compared to analyst estimates of $124.67 billion. Walmart had a return on equity of 18.16% and a net margin of 1.02%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS. Equities analysts expect that Walmart Inc will post 4.77 EPS for the current year.
In other news, major shareholder Alice L. Walton sold 594,396 shares of Walmart stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $98.28, for a total transaction of $58,417,238.88. Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at approximately $663,250,442.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 286,762 shares of Walmart stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $96.17, for a total value of $27,577,901.54. Following the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at $649,010,938.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,199,130 shares of company stock valued at $976,228,654. 51.11% of the stock is owned by corporate insiders.
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Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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