Summit Global Investments Has $7.46 Million Stake in Walmart Inc. (NYSE:WMT)

Summit Global Investments lessened its position in shares of Walmart Inc. (NYSE:WMT) by 1.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 110,238 shares of the retailer’s stock after selling 1,257 shares during the period. Summit Global Investments’ holdings in Walmart were worth $7,464,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WMT. Partnership Wealth Management LLC bought a new stake in shares of Walmart during the 4th quarter valued at about $30,000. Able Wealth Management LLC acquired a new stake in shares of Walmart during the 4th quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Walmart in the 4th quarter valued at $32,000. Signature Resources Capital Management LLC acquired a new position in shares of Walmart during the 4th quarter valued at $35,000. Finally, Tidemark LLC bought a new position in Walmart during the fourth quarter worth $37,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WMT. Citigroup upped their price objective on shares of Walmart from $63.33 to $75.00 and gave the company a “buy” rating in a report on Friday, May 17th. Robert W. Baird increased their price target on Walmart from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Guggenheim boosted their price objective on Walmart from $75.00 to $81.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their target price on Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Barclays boosted their price target on shares of Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Walmart has an average rating of “Moderate Buy” and an average target price of $78.57.

Insider Buying and Selling at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.61, for a total value of $2,056,445.64. Following the transaction, the chief executive officer now owns 3,931,301 shares of the company’s stock, valued at $277,589,163.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Walmart news, SVP David Chojnowski sold 8,791 shares of Walmart stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $68.00, for a total transaction of $597,788.00. Following the completion of the sale, the senior vice president now owns 94,415 shares of the company’s stock, valued at $6,420,220. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.61, for a total value of $2,056,445.64. Following the transaction, the chief executive officer now owns 3,931,301 shares in the company, valued at $277,589,163.61. The disclosure for this sale can be found here. Insiders sold 10,970,613 shares of company stock valued at $723,987,410 in the last quarter. 45.58% of the stock is currently owned by corporate insiders.

Walmart Stock Performance

Shares of WMT traded up $0.84 during trading hours on Tuesday, hitting $74.56. The company’s stock had a trading volume of 14,423,731 shares, compared to its average volume of 17,599,436. The business has a 50 day simple moving average of $69.15 and a two-hundred day simple moving average of $63.68. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $74.75. 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 company has a market cap of $599.73 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 4.04 and a beta of 0.50.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. On average, equities analysts expect that Walmart Inc. will post 2.43 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.