Granite Bay Wealth Management LLC Makes New $220,000 Investment in Walmart Inc. (NYSE:WMT)

Granite Bay Wealth Management LLC purchased a new stake in Walmart Inc. (NYSE:WMT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,436 shares of the retailer’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WMT. Kozak & Associates Inc. raised its position in Walmart by 22.3% during the fourth quarter. Kozak & Associates Inc. now owns 619 shares of the retailer’s stock worth $56,000 after acquiring an additional 113 shares during the last quarter. Summit Financial Wealth Advisors LLC raised its position in shares of Walmart by 0.5% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock worth $1,915,000 after purchasing an additional 118 shares during the last quarter. Lowe Wealth Advisors LLC lifted its stake in Walmart by 13.5% in the 4th quarter. Lowe Wealth Advisors LLC now owns 1,018 shares of the retailer’s stock valued at $92,000 after buying an additional 121 shares in the last quarter. Providence Wealth Advisors LLC grew its holdings in Walmart by 0.3% during the 3rd quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer’s stock valued at $3,591,000 after buying an additional 122 shares during the last quarter. Finally, 3Chopt Investment Partners LLC increased its position in Walmart by 0.4% during the third quarter. 3Chopt Investment Partners LLC now owns 32,633 shares of the retailer’s stock worth $2,635,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Price Performance

WMT opened at $91.39 on Tuesday. Walmart Inc. has a twelve month low of $53.44 and a twelve month high of $96.18. The firm has a market cap of $734.17 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 4.47 and a beta of 0.55. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $90.56 and a 200 day simple moving average of $80.80.

Walmart (NYSE:WMT) last announced its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $169.59 billion for 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 company’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 earned $0.51 earnings per share. Equities research analysts expect that Walmart Inc. will post 2.47 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In related news, Director Robert Edward Jr. Moritz bought 5,446 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $91.81 per share, with a total value of $499,997.26. Following the transaction, the director now owns 7,805 shares of the company’s stock, valued at approximately $716,577.05. This trade represents a 230.86 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John D. Rainey sold 3,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $82.12, for a total transaction of $246,360.00. Following the transaction, the executive vice president now directly owns 378,165 shares in the company, valued at $31,054,909.80. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,347 shares of company stock valued at $12,311,491 in the last three months. Corporate insiders own 45.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on WMT shares. Royal Bank of Canada increased their price objective on Walmart from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Barclays boosted their price objective on shares of Walmart from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Bank of America raised their target price on shares of Walmart from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Melius Research initiated coverage on Walmart in a report on Monday, September 23rd. They issued a “buy” rating and a $95.00 price target for the company. Finally, Piper Sandler raised their price objective on Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Walmart has a consensus rating of “Moderate Buy” and an average price target of $94.08.

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.