Cadence Bank Boosts Stake in Walmart Inc. (NYSE:WMT)

Cadence Bank lifted its holdings in shares of Walmart Inc. (NYSE:WMT) by 0.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 181,868 shares of the retailer’s stock after acquiring an additional 467 shares during the quarter. Walmart comprises approximately 1.0% of Cadence Bank’s portfolio, making the stock its 19th largest holding. Cadence Bank’s holdings in Walmart were worth $14,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Summit Financial Wealth Advisors LLC boosted its position in shares of Walmart by 0.5% in the third quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock worth $1,915,000 after purchasing an additional 118 shares during the period. CAP Partners LLC raised its position in shares of Walmart by 2.1% during the third quarter. CAP Partners LLC now owns 6,054 shares of the retailer’s stock valued at $489,000 after buying an additional 125 shares during the last quarter. Investment Advisory Group LLC lifted its holdings in shares of Walmart by 2.1% in the third quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock worth $499,000 after buying an additional 126 shares in the last quarter. Jag Capital Management LLC boosted its position in shares of Walmart by 1.4% during the third quarter. Jag Capital Management LLC now owns 9,413 shares of the retailer’s stock worth $760,000 after acquiring an additional 132 shares during the last quarter. Finally, Carlson Capital Management grew its stake in Walmart by 1.8% during the third quarter. Carlson Capital Management now owns 7,499 shares of the retailer’s stock valued at $606,000 after acquiring an additional 134 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the transaction, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the completion of the sale, the insider now owns 630,501,148 shares of the company’s stock, valued at approximately $48,781,873,820.76. The trade was a 0.43 % 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.

Wall Street Analyst Weigh In

Several research firms have commented on WMT. Evercore ISI increased their price objective on shares of Walmart from $66.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Bank of America increased their price target on Walmart from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Guggenheim lifted their price objective on Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group increased their target price on Walmart from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their price target on shares of Walmart from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.88.

Walmart Stock Up 2.0 %

Walmart stock opened at $91.31 on Wednesday. The business’s 50-day simple moving average is $82.55 and its two-hundred day simple moving average is $74.36. The company has a market cap of $733.97 billion, a PE ratio of 37.47, a PEG ratio of 4.25 and a beta of 0.51. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $91.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.23 and a current ratio of 0.85.

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

About Walmart

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.