CIBC Asset Management Inc Increases Stock Position in Walmart Inc. (NYSE:WMT)

CIBC Asset Management Inc increased its position in shares of Walmart Inc. (NYSE:WMT) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 749,709 shares of the retailer’s stock after purchasing an additional 60,859 shares during the quarter. CIBC Asset Management Inc’s holdings in Walmart were worth $60,539,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Balboa Wealth Partners increased its position in shares of Walmart by 4.4% during the third quarter. Balboa Wealth Partners now owns 8,639 shares of the retailer’s stock valued at $698,000 after acquiring an additional 363 shares during the last quarter. Sargent Investment Group LLC grew its stake in Walmart by 8.0% in the 3rd quarter. Sargent Investment Group LLC now owns 76,924 shares of the retailer’s stock valued at $6,212,000 after purchasing an additional 5,721 shares during the period. Omnia Family Wealth LLC increased its position in shares of Walmart by 13.7% during the 3rd quarter. Omnia Family Wealth LLC now owns 4,465 shares of the retailer’s stock valued at $361,000 after purchasing an additional 539 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Walmart by 6.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 122,414 shares of the retailer’s stock worth $9,885,000 after purchasing an additional 6,980 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Walmart by 6.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 1,015,409 shares of the retailer’s stock worth $81,994,000 after buying an additional 63,106 shares during the last quarter. 26.76% of the stock is owned by institutional investors.

Walmart Stock Down 1.2 %

Shares of NYSE:WMT opened at $84.47 on Friday. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $85.79. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $80.99 and its 200-day moving average price is $72.53. The stock has a market capitalization of $678.99 billion, a P/E ratio of 43.92, a price-to-earnings-growth ratio of 4.27 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $168.56 billion. During the same period last year, the company earned $0.61 EPS. Walmart’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Walmart Inc. will post 2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WMT has been the topic of several research reports. Citigroup lifted their price objective on shares of Walmart from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Sanford C. Bernstein initiated coverage on shares of Walmart in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $95.00 price target on the stock. Bank of America 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. Redburn Atlantic raised Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. Finally, Melius Research began coverage on Walmart in a research note on Monday, September 23rd. They set a “buy” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $84.84.

Insider Activity

In other news, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the completion of the sale, the insider now directly owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total value of $209,607,941.31. Following the transaction, the insider now directly owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is currently owned by company insiders.

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.