Heritage Wealth Management Inc. Takes Position in Walmart Inc. (NYSE:WMT)

Heritage Wealth Management Inc. acquired a new position in shares of Walmart Inc. (NYSE:WMT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,053 shares of the retailer’s stock, valued at approximately $5,607,000. Walmart makes up about 1.9% of Heritage Wealth Management Inc.’s portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Lazari Capital Management Inc. lifted its stake in Walmart by 9.4% in the 2nd quarter. Lazari Capital Management Inc. now owns 10,997 shares of the retailer’s stock valued at $745,000 after acquiring an additional 947 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Walmart in the second quarter worth $72,188,000. Brown Financial Advisors bought a new stake in shares of Walmart in the second quarter worth $1,708,000. Strategic Investment Solutions Inc. IL acquired a new position in Walmart during the second quarter worth $829,000. Finally, SRN Advisors LLC grew its position in Walmart by 2.8% in the second quarter. SRN Advisors LLC now owns 19,150 shares of the retailer’s stock valued at $1,297,000 after purchasing an additional 522 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $80.64, for a total transaction of $2,348,559.36. Following the completion of the sale, the chief executive officer now owns 3,873,053 shares of the company’s stock, valued at approximately $312,322,993.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP John R. Furner sold 13,125 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $81.04, for a total value of $1,063,650.00. Following the completion of the transaction, the executive vice president now directly owns 606,165 shares in the company, valued at approximately $49,123,611.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total value of $2,348,559.36. Following the sale, the chief executive officer now owns 3,873,053 shares in the company, valued at approximately $312,322,993.92. The disclosure for this sale can be found here. Insiders sold a total of 12,334,670 shares of company stock valued at $958,025,027 over the last quarter. 45.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Evercore ISI boosted their price target on shares of Walmart from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Royal Bank of Canada increased their price target on Walmart from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Citigroup boosted their price target on Walmart from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. DA Davidson increased their price objective on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group boosted their target price on shares of Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Walmart presently has an average rating of “Buy” and an average price target of $81.62.

Walmart Price Performance

Shares of Walmart stock opened at $81.27 on Wednesday. The company has a 50-day simple moving average of $74.86 and a two-hundred day simple moving average of $67.85. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $81.60. The stock has a market capitalization of $653.27 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 4.00 and a beta of 0.51. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The business had revenue of $169.30 billion during the quarter, compared to analysts’ expectations of $168.56 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts forecast that Walmart Inc. will post 2.44 EPS for the current year.

About Walmart

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.