Walmart Inc. (NYSE:WMT) Stake Lifted by Hoey Investments Inc.

Hoey Investments Inc. increased its stake in Walmart Inc. (NYSE:WMT) by 251.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,778 shares of the retailer’s stock after acquiring an additional 19,159 shares during the period. Walmart makes up approximately 0.4% of Hoey Investments Inc.’s investment portfolio, making the stock its 22nd biggest position. Hoey Investments Inc.’s holdings in Walmart were worth $1,611,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Walmart in the fourth quarter worth $3,674,652,000. Bank of New York Mellon Corp raised its holdings in Walmart by 183.0% during the 1st quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock worth $1,755,339,000 after purchasing an additional 18,865,484 shares during the last quarter. Raymond James & Associates raised its holdings in Walmart by 212.6% during the 1st quarter. Raymond James & Associates now owns 14,035,473 shares of the retailer’s stock worth $844,514,000 after purchasing an additional 9,544,958 shares during the last quarter. Swiss National Bank increased its stake in shares of Walmart by 187.4% in the 1st quarter. Swiss National Bank now owns 13,303,200 shares of the retailer’s stock valued at $800,454,000 after acquiring an additional 8,674,100 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Walmart by 184.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,567,533 shares of the retailer’s stock valued at $756,188,000 after acquiring an additional 8,144,393 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Walmart from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Deutsche Bank Aktiengesellschaft raised their price target on Walmart from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Morgan Stanley raised their price target on Walmart from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. BMO Capital Markets lifted their target price on Walmart from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Finally, KeyCorp boosted their price target on Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.09.

Insider Transactions at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $60.03, for a total transaction of $1,748,313.72. Following the completion of the sale, the chief executive officer now owns 4,018,650 shares in the company, valued at $241,239,559.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $60.03, for a total value of $1,748,313.72. Following the completion of the sale, the chief executive officer now directly owns 4,018,650 shares of the company’s stock, valued at approximately $241,239,559.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel J. Bartlett sold 2,398 shares of Walmart stock in a transaction on Monday, July 15th. The shares were sold at an average price of $69.50, for a total transaction of $166,661.00. Following the transaction, the executive vice president now owns 463,871 shares in the company, valued at approximately $32,239,034.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,527,738 shares of company stock worth $953,190,060. Company insiders own 45.58% of the company’s stock.

Walmart Stock Down 0.1 %

NYSE:WMT traded down $0.07 during trading hours on Friday, hitting $70.75. The company’s stock had a trading volume of 11,665,526 shares, compared to its average volume of 12,789,591. The stock has a market capitalization of $569.08 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 4.08 and a beta of 0.50. The stock has a fifty day moving average of $66.96 and a 200-day moving average of $61.20. The company has a current ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $71.33.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 earnings per share. On average, equities analysts forecast that Walmart Inc. will post 2.43 earnings per share for the current year.

About Walmart

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.