Walmart Inc. (NYSE:WMT) is Cullinan Associates Inc.’s 2nd Largest Position

Cullinan Associates Inc. grew its stake in shares of Walmart Inc. (NYSE:WMT) by 80.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,600,767 shares of the retailer’s stock after purchasing an additional 715,871 shares during the quarter. Walmart makes up approximately 5.4% of Cullinan Associates Inc.’s investment portfolio, making the stock its 2nd largest position. Cullinan Associates Inc.’s holdings in Walmart were worth $96,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Walmart by 193.2% during 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 purchasing an additional 13,704 shares during the period. Edmonds Duncan Registered Investment Advisors LLC raised its holdings 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Walmart by 218.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,554,046 shares of the retailer’s stock valued at $153,677,000 after acquiring an additional 1,751,066 shares in the last quarter. Eagle Capital Management LLC bought a new stake in shares of Walmart in the first quarter valued at about $222,000. Finally, Stordahl Capital Management Inc. raised its holdings in shares of Walmart by 192.3% in the first quarter. Stordahl Capital Management Inc. now owns 5,302 shares of the retailer’s stock valued at $319,000 after acquiring an additional 3,488 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Walmart

In related 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 owns 4,018,650 shares in the company, valued at $241,239,559.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Walmart 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 owns 4,018,650 shares in the company, valued at approximately $241,239,559.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John R. Furner sold 13,125 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $68.20, for a total value of $895,125.00. Following the completion of the sale, the executive vice president now owns 645,540 shares in the company, valued at approximately $44,025,828. The disclosure for this sale can be found here. Insiders have sold a total of 14,525,340 shares of company stock worth $953,023,399 over the last quarter. Insiders own 45.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WMT shares. Citigroup lifted their price objective on Walmart from $63.33 to $75.00 and gave the company a “buy” rating in a report on Friday, May 17th. DA Davidson lifted their price objective on Walmart from $69.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 17th. Royal Bank of Canada lifted their price objective on Walmart from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Bank of America lifted their price objective on Walmart from $67.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Morgan Stanley boosted their target price on shares of Walmart from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.47.

Walmart Price Performance

Shares of NYSE WMT opened at $68.24 on Thursday. The business’s 50 day moving average price is $64.40 and its 200 day moving average price is $59.65. The firm has a market cap of $548.89 billion, a P/E ratio of 29.20, a P/E/G 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 quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, May 16th. The retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. Walmart’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. On average, sell-side analysts expect that Walmart Inc. will post 2.43 earnings per share for the current year.

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.