Summit Financial Wealth Advisors LLC Purchases 118 Shares of Walmart Inc. (NYSE:WMT)

Summit Financial Wealth Advisors LLC raised its holdings in shares of Walmart Inc. (NYSE:WMT) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,720 shares of the retailer’s stock after acquiring an additional 118 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Walmart were worth $1,915,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in shares of Walmart during the 1st quarter valued at $25,000. Peterson Financial Group Inc. bought a new stake in Walmart in the third quarter worth $26,000. TruNorth Capital Management LLC boosted its position in Walmart by 138.3% during the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after buying an additional 249 shares during the period. Cultivar Capital Inc. purchased a new stake in Walmart during the second quarter valued at about $29,000. Finally, Kozak & Associates Inc. grew its stake in shares of Walmart by 216.4% during the first quarter. Kozak & Associates Inc. now owns 503 shares of the retailer’s stock valued at $32,000 after buying an additional 344 shares during the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WMT. Oppenheimer boosted their target price on Walmart from $81.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Truist Financial boosted their price objective on Walmart from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. StockNews.com cut shares of Walmart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Sanford C. Bernstein lifted their target price on shares of Walmart from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada increased their price target on shares of Walmart from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.88.

Walmart Stock Performance

Shares of Walmart stock opened at $89.45 on Tuesday. Walmart Inc. has a 1 year low of $49.85 and a 1 year high of $90.95. The firm’s 50-day moving average is $82.29 and its 200 day moving average is $74.14. The stock has a market cap of $719.02 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 4.29 and a beta of 0.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.23.

Walmart (NYSE:WMT) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Sell-side analysts anticipate that Walmart Inc. will post 2.47 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In other news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.48, for a total transaction of $232,440.00. Following the completion of the transaction, the executive vice president now directly owns 384,165 shares of the company’s stock, valued at $29,765,104.20. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the completion of the sale, the insider now owns 619,646,544 shares in the company, valued at $47,687,998,026.24. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,337,337 shares of company stock worth $958,823,647. Insiders own 45.58% of the company’s stock.

Walmart Company 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.