Cornerstone Wealth Management LLC Boosts Stake in Walmart Inc. (NYSE:WMT)

Cornerstone Wealth Management LLC boosted its stake in shares of Walmart Inc. (NYSE:WMT) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,998 shares of the retailer’s stock after purchasing an additional 8,201 shares during the period. Walmart comprises about 0.8% of Cornerstone Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. Cornerstone Wealth Management LLC’s holdings in Walmart were worth $10,820,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Walmart by 199.4% in the 1st quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock worth $24,774,717,000 after buying an additional 274,229,968 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Walmart by 181.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock valued at $3,421,342,000 after purchasing an additional 36,625,314 shares during the period. Swiss National Bank lifted its holdings in Walmart by 187.4% in the 1st quarter. Swiss National Bank now owns 13,303,200 shares of the retailer’s stock worth $800,454,000 after purchasing an additional 8,674,100 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Walmart by 284.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock worth $669,227,000 after purchasing an additional 8,225,552 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Walmart by 184.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,567,533 shares of the retailer’s stock worth $756,188,000 after purchasing an additional 8,144,393 shares during the period. Institutional investors own 26.76% of the company’s stock.

Analyst Ratings Changes

WMT has been the topic of several research analyst reports. StockNews.com raised shares of Walmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. BMO Capital Markets reissued an “outperform” rating and set a $80.00 price objective on shares of Walmart in a report on Friday, August 16th. Morgan Stanley lifted their target price on Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. DA Davidson boosted their target price on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and raised their price target for the company from $76.00 to $89.00 in a report on Tuesday, September 24th. One research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $82.96.

Insider Transactions at Walmart

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the completion of the sale, the executive vice president now owns 387,165 shares in the company, valued at approximately $26,787,946.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the completion of the sale, the executive vice president now directly owns 387,165 shares in the company, valued at $26,787,946.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Daniel J. Bartlett sold 2,065 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.69, for a total transaction of $166,624.85. Following the transaction, the executive vice president now owns 457,493 shares in the company, valued at approximately $36,915,110.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,337,337 shares of company stock valued at $958,267,901. 45.58% of the stock is currently owned by company insiders.

Walmart Stock Performance

Shares of Walmart stock opened at $81.22 on Thursday. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $77.37 and its two-hundred day moving average is $69.31. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $81.82. The company has a market capitalization of $652.87 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 4.02 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping 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 firm had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts expect that Walmart Inc. will post 2.44 earnings per share for the current year.

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.