Synergy Asset Management LLC Raises Position in Walmart Inc. (NYSE:WMT)

Synergy Asset Management LLC raised its position in Walmart Inc. (NYSE:WMT) by 199.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,145 shares of the retailer’s stock after acquiring an additional 4,094 shares during the quarter. Synergy Asset Management LLC’s holdings in Walmart were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Narus Financial Partners LLC increased its position in shares of Walmart by 197.8% in the first quarter. Narus Financial Partners LLC now owns 1,481,111 shares of the retailer’s stock valued at $89,118,000 after acquiring an additional 983,762 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of Walmart by 200.8% in the first quarter. Farmers & Merchants Investments Inc. now owns 473,783 shares of the retailer’s stock valued at $28,508,000 after acquiring an additional 316,259 shares during the period. Cullinan Associates Inc. increased its position in shares of Walmart by 80.9% in the first quarter. Cullinan Associates Inc. now owns 1,600,767 shares of the retailer’s stock valued at $96,318,000 after acquiring an additional 715,871 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Walmart by 193.2% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 20,797 shares of the retailer’s stock valued at $1,251,000 after acquiring an additional 13,704 shares during the period. Finally, Edmonds Duncan Registered Investment Advisors LLC increased its position in shares of Walmart by 200.0% in the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 8,768 shares of the retailer’s stock valued at $528,000 after acquiring an additional 5,845 shares during the period. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insider Activity

In other news, SVP David Chojnowski sold 8,791 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $68.00, for a total transaction of $597,788.00. Following the completion of the transaction, the senior vice president now directly owns 94,415 shares of the company’s stock, valued at $6,420,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP David Chojnowski sold 8,791 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $68.00, for a total transaction of $597,788.00. Following the completion of the transaction, the senior vice president now directly owns 94,415 shares of the company’s stock, valued at $6,420,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of the business’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 transaction of $177,240.00. Following the transaction, the executive vice president now directly owns 521,613 shares of the company’s stock, valued at $30,816,896.04. The disclosure for this sale can be found here. Insiders sold 14,525,340 shares of company stock valued at $953,023,399 over the last three months. Insiders own 45.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on WMT. Bank of America boosted their price objective on shares of Walmart from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Stifel Nicolaus lifted their target price on shares of Walmart from $69.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Walmart from $71.00 to $77.00 and gave the company a “buy” rating in a research note on Monday. Tigress Financial lifted their target price on shares of Walmart from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Truist Financial lifted their target price on shares of Walmart from $60.00 to $64.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.47.

Walmart Stock Up 0.2 %

Shares of Walmart stock opened at $68.24 on Thursday. 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 stock has a market capitalization of $548.89 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.50. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $69.04. The company has a 50-day simple moving average of $64.40 and a two-hundred day simple moving average of $59.65.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The business had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts anticipate that Walmart Inc. will post 2.43 EPS 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.