Exchange Traded Concepts LLC Raises Stock Position in Walmart Inc. (NYSE:WMT)

Exchange Traded Concepts LLC increased its holdings in shares of Walmart Inc. (NYSE:WMT) by 63.1% in the 4th quarter, HoldingsChannel reports. The firm owned 231,630 shares of the retailer’s stock after acquiring an additional 89,627 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Walmart were worth $20,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. CX Institutional increased its holdings in shares of Walmart by 8.4% during the 4th quarter. CX Institutional now owns 83,116 shares of the retailer’s stock valued at $7,510,000 after purchasing an additional 6,451 shares in the last quarter. Zweig DiMenna Associates LLC increased its holdings in Walmart by 14.9% in the fourth quarter. Zweig DiMenna Associates LLC now owns 188,531 shares of the retailer’s stock valued at $17,034,000 after buying an additional 24,511 shares in the last quarter. Encompass More Asset Management increased its holdings in Walmart by 23.2% in the fourth quarter. Encompass More Asset Management now owns 5,803 shares of the retailer’s stock valued at $524,000 after buying an additional 1,091 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in Walmart in the fourth quarter valued at $362,000. Finally, Patriot Investment Management Group Inc. increased its holdings in Walmart by 2.3% in the fourth quarter. Patriot Investment Management Group Inc. now owns 13,634 shares of the retailer’s stock valued at $1,232,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Stock Performance

Walmart stock opened at $94.84 on Friday. The stock has a market cap of $761.90 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 4.42 and a beta of 0.55. Walmart Inc. has a 1-year low of $53.47 and a 1-year high of $96.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.23. The firm has a 50 day simple moving average of $92.02 and a 200-day simple moving average of $82.13.

Walmart (NYSE:WMT) last released its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $169.59 billion during the quarter, compared to analysts’ expectations of $167.69 billion. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. On average, analysts expect that Walmart Inc. will post 2.48 EPS for the current year.

Wall Street Analyst Weigh In

WMT has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Walmart from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler boosted their price objective on Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. DZ Bank cut Walmart from a “buy” rating to a “hold” rating and set a $91.00 price objective for the company. in a research report on Thursday, November 21st. Stifel Nicolaus boosted their price target on shares of Walmart from $89.00 to $94.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets boosted their price target on shares of Walmart from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.69.

Insider Buying and Selling at Walmart

In related news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.44, for a total value of $2,663,098.56. Following the completion of the sale, the chief executive officer now owns 3,814,805 shares in the company, valued at approximately $348,825,769.20. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Furner sold 13,125 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $92.00, for a total value of $1,207,500.00. Following the transaction, the executive vice president now owns 579,915 shares in the company, valued at $53,352,180. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,177 shares of company stock worth $12,895,688 over the last three months. 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.