Cornerstone Advisors LLC Has $22.44 Million Stock Holdings in Walmart Inc. (NYSE:WMT)

Cornerstone Advisors LLC increased its position in shares of Walmart Inc. (NYSE:WMT) by 163.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 373,000 shares of the retailer’s stock after buying an additional 231,300 shares during the quarter. Walmart comprises about 0.9% of Cornerstone Advisors LLC’s portfolio, making the stock its 23rd biggest position. Cornerstone Advisors LLC’s holdings in Walmart were worth $22,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwest Capital Management Inc increased its position in shares of Walmart by 199.3% during the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after acquiring an additional 293 shares in the last quarter. Partnership Wealth Management LLC acquired a new position in Walmart during the 4th quarter valued at about $30,000. Able Wealth Management LLC acquired a new position in Walmart during the 4th quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Walmart during the 4th quarter worth approximately $32,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of Walmart in the fourth quarter worth approximately $35,000. Institutional investors own 26.76% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Daniel J. Bartlett sold 2,398 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $69.50, for a total transaction of $166,661.00. Following the completion of the transaction, the executive vice president now directly owns 463,871 shares in the company, valued at approximately $32,239,034.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $60.03, for a total transaction of $1,748,313.72. Following the completion of the sale, the chief executive officer now owns 4,018,650 shares in the company, valued at approximately $241,239,559.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel J. Bartlett sold 2,398 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $69.50, for a total value of $166,661.00. Following the transaction, the executive vice president now directly owns 463,871 shares of the company’s stock, valued at approximately $32,239,034.50. The disclosure for this sale can be found here. Insiders have sold 14,527,738 shares of company stock worth $953,190,060 in the last three months. 45.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WMT shares. HSBC raised their price objective on Walmart from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Jefferies Financial Group boosted their price target on shares of Walmart from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets increased their price objective on shares of Walmart from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Oppenheimer lifted their target price on shares of Walmart from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Finally, Raymond James upped their target price on Walmart from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.09.

Walmart Stock Performance

Shares of NYSE:WMT traded down $0.07 during midday trading on Friday, reaching $70.75. 11,665,526 shares of the company traded hands, compared to its average volume of 12,789,591. The firm’s fifty day moving average price is $66.96 and its two-hundred day moving average price is $61.20. The firm has a market capitalization of $569.08 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 4.08 and a beta of 0.50. 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 Inc. has a 12 month low of $49.85 and a 12 month high of $71.33.

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