Walmart Inc. (NYSE:WMT) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in shares of Walmart Inc. (NYSE:WMT) by 200.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,172,820 shares of the retailer’s stock after purchasing an additional 782,280 shares during the quarter. State of Michigan Retirement System’s holdings in Walmart were worth $70,569,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WMT. Partnership Wealth Management LLC acquired a new stake in Walmart in the fourth quarter valued at approximately $30,000. Able Wealth Management LLC acquired a new stake in Walmart in the 4th quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Walmart in the 4th quarter worth $32,000. Signature Resources Capital Management LLC acquired a new position in Walmart during the fourth quarter worth $35,000. Finally, Tidemark LLC purchased a new position in Walmart during the fourth quarter valued at $37,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Trading Up 0.2 %

Shares of WMT stock opened at $68.24 on Thursday. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $69.04. The firm has a market cap 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. The company has a 50-day moving average of $64.40 and a two-hundred day moving average of $59.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.80 and a quick ratio of 0.23.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. On average, analysts predict that Walmart Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Roth Mkm boosted their target price on shares of Walmart from $69.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Morgan Stanley raised their target price on Walmart from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Oppenheimer boosted their price target on Walmart from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Robert W. Baird increased their price objective on Walmart from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Finally, HSBC lifted their target price on shares of Walmart from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.47.

Insider Activity

In related news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $59.08, for a total transaction of $177,240.00. Following the transaction, the executive vice president now owns 521,613 shares of the company’s stock, valued at approximately $30,816,896.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Walmart news, EVP John D. Rainey sold 3,000 shares of the 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 sale, the executive vice president now directly owns 521,613 shares in the company, valued at approximately $30,816,896.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Alice L. Walton sold 3,633,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $66.80, for a total transaction of $242,737,840.00. Following the completion of the transaction, the insider now directly owns 636,898,811 shares of the company’s stock, valued at approximately $42,544,840,574.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,525,340 shares of company stock valued at $953,023,399. 45.58% of the stock is currently owned by corporate insiders.

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.