Walmart Inc. (NYSE:WMT) Position Increased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC increased its stake in Walmart Inc. (NYSE:WMT) by 216.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,328 shares of the retailer’s stock after purchasing an additional 68,584 shares during the period. Cornerstone Wealth Group LLC’s holdings in Walmart were worth $6,037,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Partnership Wealth Management LLC bought a new stake in Walmart during the 4th quarter valued at $30,000. Able Wealth Management LLC acquired a new position in shares of Walmart during the 4th quarter valued at $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Walmart during 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 acquired a new position in shares of Walmart during the 4th quarter valued at $37,000. Institutional investors own 26.76% of the company’s stock.

Insider Activity at Walmart

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $60.03, for a total transaction of $1,748,313.72. Following the transaction, the chief executive officer now directly owns 4,018,650 shares in the company, valued at $241,239,559.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $60.03, for a total value of $1,748,313.72. Following the sale, the chief executive officer now directly owns 4,018,650 shares in the company, valued at approximately $241,239,559.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John D. Rainey sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.08, for a total value of $177,240.00. Following the completion of the sale, the executive vice president now owns 521,613 shares in the company, valued at $30,816,896.04. The disclosure for this sale can be found here. Insiders have sold 14,499,762 shares of company stock worth $951,294,838 over the last three months. Company insiders own 45.58% of the company’s stock.

Walmart Trading Down 0.3 %

Walmart stock opened at $67.48 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.23 and a current ratio of 0.80. The business’s 50-day simple moving average is $64.07 and its 200-day simple moving average is $59.41. The firm has a market capitalization of $542.78 billion, a PE ratio of 28.88, a PEG ratio of 3.91 and a beta of 0.50. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $69.04.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share (EPS) 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 firm had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Walmart Inc. will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Walmart from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Morgan Stanley lifted their price target on Walmart from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Barclays lifted their target price on Walmart from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. TD Cowen lifted their target price on Walmart from $68.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Jefferies Financial Group lifted their target price on Walmart from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.41.

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.