SteelPeak Wealth LLC Grows Stake in Walmart Inc. (NYSE:WMT)

SteelPeak Wealth LLC increased its position in Walmart Inc. (NYSE:WMT) by 19.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,325 shares of the retailer’s stock after purchasing an additional 2,670 shares during the quarter. SteelPeak Wealth LLC’s holdings in Walmart were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Partnership Wealth Management LLC acquired a new stake in Walmart during the fourth quarter valued at approximately $30,000. Able Wealth Management LLC bought a new position in Walmart in the 4th quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Walmart in the 4th quarter valued at approximately $32,000. Signature Resources Capital Management LLC bought a new stake in shares of Walmart during the fourth quarter valued at about $35,000. Finally, Tidemark LLC bought a new stake in shares of Walmart during the 4th quarter worth about $37,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Price Performance

Shares of NYSE:WMT opened at $67.48 on Tuesday. The company has a market cap of $542.78 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 3.91 and a beta of 0.50. The business has a 50 day moving average price of $64.07 and a 200 day moving average price of $59.41. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $69.04.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. During the same period in the prior year, the business earned $0.49 earnings per share. Walmart’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts predict that Walmart Inc. will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WMT shares. Raymond James raised their target price on Walmart from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Citigroup raised their target price on Walmart from $63.33 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. upgraded shares of Walmart from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $66.00 to $81.00 in a research note on Monday, June 10th. DA Davidson increased their price objective on Walmart from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, UBS Group boosted their target price on Walmart from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat, Walmart has an average rating of “Moderate Buy” and a consensus price target of $70.41.

Insiders Place Their Bets

In related news, Director Timothy Patrick Flynn sold 30,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $64.82, for a total value of $1,944,600.00. Following the completion of the sale, the director now owns 144,807 shares in the company, valued at $9,386,389.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Timothy Patrick Flynn sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $64.82, for a total value of $1,944,600.00. Following the completion of the transaction, the director now directly owns 144,807 shares of the company’s stock, valued at $9,386,389.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on 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 directly owns 4,018,650 shares in the company, valued at approximately $241,239,559.50. The disclosure for this sale can be found here. Insiders have sold 14,499,762 shares of company stock worth $951,294,838 in the last ninety days. Insiders own 45.58% of the company’s stock.

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.