NN Investment Partners Holdings N.V. raised its stake in Walmart Inc. (NYSE:WMT) by 13.4% during the 1st quarter, Holdings Channel reports. The fund owned 372,804 shares of the retailer’s stock after acquiring an additional 44,098 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Walmart were worth $50,638,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in WMT. Norges Bank bought a new position in Walmart in the 4th quarter valued at about $2,164,014,000. California Public Employees Retirement System increased its holdings in shares of Walmart by 12.7% during the fourth quarter. California Public Employees Retirement System now owns 7,310,901 shares of the retailer’s stock worth $1,053,866,000 after purchasing an additional 824,835 shares during the period. Cibc World Markets Corp increased its holdings in shares of Walmart by 147.7% during the fourth quarter. Cibc World Markets Corp now owns 1,096,164 shares of the retailer’s stock worth $158,012,000 after purchasing an additional 653,581 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Walmart by 239.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 902,432 shares of the retailer’s stock worth $130,086,000 after purchasing an additional 636,884 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Walmart by 4.4% during the fourth quarter. Fisher Asset Management LLC now owns 11,830,028 shares of the retailer’s stock worth $1,705,299,000 after purchasing an additional 497,775 shares during the period. 29.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WMT stock traded down $0.90 during trading on Tuesday, reaching $141.22. 124,101 shares of the company’s stock traded hands, compared to its average volume of 8,964,563. The company has a market capitalization of $397.46 billion, a P/E ratio of 22.67, a PEG ratio of 4.86 and a beta of 0.27. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average is $137.10 and its 200 day moving average is $142.03. Walmart Inc. has a 1 year low of $117.01 and a 1 year high of $153.66.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Friday, December 10th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 9th. Walmart’s payout ratio is currently 44.62%.
Walmart announced that its board has authorized a share buyback program on Thursday, February 18th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Several research analysts have recently commented on WMT shares. Royal Bank of Canada set a $162.00 target price on shares of Walmart and gave the stock a “buy” rating in a report on Friday, February 19th. MKM Partners decreased their price objective on shares of Walmart from $154.00 to $141.00 in a research note on Tuesday, March 16th. Zacks Investment Research raised shares of Walmart from a “sell” rating to a “hold” rating and set a $147.00 price objective on the stock in a research note on Tuesday, April 20th. Morgan Stanley decreased their price objective on shares of Walmart from $156.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, February 25th. Finally, Credit Suisse Group set a $150.00 target price on shares of Walmart and gave the company a “buy” rating in a research report on Friday, February 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $154.63.
In related news, CEO C Douglas Mcmillon sold 9,708 shares of the company’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $141.01, for a total transaction of $1,368,925.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Alice L. Walton sold 710,440 shares of the company’s stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $130.64, for a total transaction of $92,811,881.60. Following the sale, the insider now directly owns 21,748,580 shares in the company, valued at approximately $2,841,234,491.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,009,708 shares of company stock worth $264,285,412 over the last 90 days. 50.43% of the stock is currently owned by corporate insiders.
Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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