Mainstream Capital Management LLC Acquires New Shares in Walmart Inc. (NYSE:WMT)

Mainstream Capital Management LLC acquired a new stake in Walmart Inc. (NYSE:WMT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,758 shares of the retailer’s stock, valued at approximately $869,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Walmart by 199.4% in the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after acquiring an additional 274,229,968 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Walmart by 181.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock valued at $3,421,342,000 after acquiring an additional 36,625,314 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Walmart by 1.8% in the second quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock valued at $2,456,704,000 after acquiring an additional 644,353 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Walmart by 3.0% in the third quarter. Raymond James & Associates now owns 16,766,325 shares of the retailer’s stock valued at $1,353,881,000 after acquiring an additional 484,196 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Walmart by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 16,184,945 shares of the retailer’s stock valued at $1,095,946,000 after acquiring an additional 834,005 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WMT. Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price (up from $81.00) on shares of Walmart in a report on Friday, August 16th. DA Davidson boosted their target price on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus boosted their target price on shares of Walmart from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Melius Research initiated coverage on shares of Walmart in a research note on Monday, September 23rd. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Truist Financial raised shares of Walmart from a “hold” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $89.00 in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $83.92.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction dated 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 completion of 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 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction dated 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 completion of 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 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 2,709,163 shares of Walmart stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total value of $209,607,941.31. Following the completion of the transaction, the insider now owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,337,337 shares of company stock worth $958,823,647. 45.58% of the stock is currently owned by company insiders.

Walmart Stock Performance

NYSE WMT opened at $83.84 on Friday. The company has a market cap of $673.93 billion, a P/E ratio of 43.59, a P/E/G ratio of 4.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22. The stock has a 50-day moving average of $80.22 and a two-hundred day moving average of $71.67. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $85.54.

Walmart (NYSE:WMT) last released its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $169.30 billion during the quarter, compared to the consensus estimate of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. Walmart’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. As a group, analysts anticipate that Walmart Inc. will post 2.44 EPS for the current year.

Walmart Company 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.