Drive Wealth Management LLC Purchases 147 Shares of Walmart Inc. (NYSE:WMT)

Drive Wealth Management LLC boosted its position in Walmart Inc. (NYSE:WMT) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,491 shares of the retailer’s stock after acquiring an additional 147 shares during the period. Drive Wealth Management LLC’s holdings in Walmart were worth $1,332,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp increased its stake in Walmart by 201.0% during the 1st quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after purchasing an additional 1,397 shares in the last quarter. Dupont Capital Management Corp increased its position in shares of Walmart by 165.4% during the first quarter. Dupont Capital Management Corp now owns 270,147 shares of the retailer’s stock worth $16,255,000 after acquiring an additional 168,346 shares in the last quarter. Empowered Funds LLC lifted its position in Walmart by 307.1% in the 1st quarter. Empowered Funds LLC now owns 160,292 shares of the retailer’s stock valued at $9,645,000 after acquiring an additional 120,919 shares in the last quarter. J.Safra Asset Management Corp lifted its position in Walmart by 200.0% in the 1st quarter. J.Safra Asset Management Corp now owns 2,517 shares of the retailer’s stock valued at $151,000 after acquiring an additional 1,678 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in Walmart by 198.6% during the 1st quarter. Tocqueville Asset Management L.P. now owns 708,146 shares of the retailer’s stock worth $42,609,000 after purchasing an additional 471,016 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Walmart from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Stifel Nicolaus increased their target price on shares of Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. StockNews.com upgraded shares of Walmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Bank of America lifted their target price on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, KeyCorp boosted their price objective on Walmart from $87.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $85.18.

Insider Buying and Selling

In related news, EVP John D. Rainey sold 3,000 shares of the business’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.96, for a total value of $182,823,328.48. Following the completion of the sale, the insider now directly owns 619,646,544 shares in the company, valued at approximately $47,687,998,026.24. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. Company insiders own 45.58% of the company’s stock.

Walmart Stock Performance

Shares of WMT opened at $84.25 on Monday. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $85.79. The stock’s 50-day simple moving average is $81.29 and its 200 day simple moving average is $72.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. The stock has a market capitalization of $677.22 billion, a price-to-earnings ratio of 43.80, a price-to-earnings-growth ratio of 4.20 and a beta of 0.51.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. Research analysts forecast that Walmart Inc. will post 2.44 EPS for the current fiscal 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.