Garner Asset Management Corp Has $3.08 Million Position in Walmart Inc. (NYSE:WMT)

Garner Asset Management Corp grew its position in shares of Walmart Inc. (NYSE:WMT) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,432 shares of the retailer’s stock after purchasing an additional 4,133 shares during the quarter. Walmart makes up 1.5% of Garner Asset Management Corp’s holdings, making the stock its 17th biggest holding. Garner Asset Management Corp’s holdings in Walmart were worth $3,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Able Wealth Management LLC bought a new stake in Walmart in the fourth quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Walmart during the fourth quarter worth $32,000. Tidemark LLC bought a new position in Walmart during the fourth quarter worth $37,000. Frank Rimerman Advisors LLC acquired a new position in Walmart in the fourth quarter valued at $48,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Walmart during the 1st quarter valued at about $25,000. 26.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $68.39, for a total value of $1,991,790.36. Following the completion of the sale, the chief executive officer now owns 3,960,402 shares of the company’s stock, valued at approximately $270,851,892.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the completion of the sale, the chief executive officer now directly owns 3,960,402 shares in the company, valued at approximately $270,851,892.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the transaction, the insider now directly owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,205,423 shares of company stock valued at $788,845,411. 45.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Walmart from $75.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. TD Cowen lifted their price target on Walmart from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Guggenheim increased their price objective on Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Evercore ISI lifted their target price on Walmart from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Walmart presently has an average rating of “Moderate Buy” and a consensus price target of $78.99.

Walmart Stock Performance

NYSE:WMT opened at $79.03 on Thursday. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $81.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22. The business has a 50 day moving average of $73.07 and a 200 day moving average of $66.57. The company has a market capitalization of $635.68 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 4.03 and a beta of 0.51.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion during the quarter, compared to analysts’ expectations of $168.56 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Walmart Inc. will post 2.44 earnings per share 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.