Van ECK Associates Corp Acquires 42,978 Shares of Walmart Inc. (NYSE:WMT)

Van ECK Associates Corp increased its holdings in Walmart Inc. (NYSE:WMT) by 14.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 335,995 shares of the retailer’s stock after buying an additional 42,978 shares during the period. Van ECK Associates Corp’s holdings in Walmart were worth $47,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Paragon Wealth Strategies LLC bought a new position in shares of Walmart in the second quarter valued at approximately $31,000. ShoreHaven Wealth Partners LLC lifted its stake in Walmart by 70.1% in the first quarter. ShoreHaven Wealth Partners LLC now owns 342 shares of the retailer’s stock valued at $46,000 after purchasing an additional 141 shares during the last quarter. Freedman Financial Associates Inc. lifted its stake in Walmart by 40.0% in the second quarter. Freedman Financial Associates Inc. now owns 350 shares of the retailer’s stock valued at $49,000 after purchasing an additional 100 shares during the last quarter. tru Independence LLC purchased a new position in Walmart in the second quarter valued at approximately $60,000. Finally, Lake Point Wealth Management purchased a new position in Walmart in the second quarter valued at approximately $72,000. 30.22% of the stock is owned by institutional investors.

In related news, major shareholder Jim C. Walton sold 254,700 shares of the stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $150.93, for a total value of $38,441,871.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Alice L. Walton sold 637,141 shares of the firm’s stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $150.64, for a total value of $95,978,920.24. The disclosure for this sale can be found here. In the last three months, insiders sold 21,035,211 shares of company stock worth $2,963,644,200. 48.44% of the stock is owned by insiders.

Several equities analysts recently commented on the company. Stephens upped their price objective on Walmart from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, August 13th. Raymond James upped their price objective on Walmart from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, August 18th. Citigroup upped their price objective on Walmart from $172.00 to $179.00 and gave the company a “buy” rating in a research note on Wednesday, May 19th. Stifel Nicolaus reiterated a “hold” rating and issued a $160.00 price objective (up previously from $155.00) on shares of Walmart in a research note on Tuesday, August 17th. Finally, Wells Fargo & Company upgraded Walmart from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $165.00 in a research report on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $167.59.

WMT opened at $144.30 on Wednesday. The stock has a market cap of $402.38 billion, a PE ratio of 40.65, a P/E/G ratio of 4.21 and a beta of 0.47. The company has a quick ratio of 0.38, a current ratio of 0.96 and a debt-to-equity ratio of 0.50. Walmart Inc. has a 52 week low of $126.28 and a 52 week high of $153.66. The business’s fifty day simple moving average is $145.38 and its 200 day simple moving average is $140.40.

Walmart (NYSE:WMT) last released its earnings results on Monday, August 16th. The retailer reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.21. The business had revenue of $141 billion for the quarter, compared to analysts’ expectations of $136.07 billion. Walmart had a return on equity of 20.22% and a net margin of 1.78%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 earnings per share. As a group, equities analysts anticipate that Walmart Inc. will post 6.3 earnings per share for the current year.

About Walmart

Walmart, Inc engages in retail and wholesale business. The Company offers an assortment of merchandise and services at everyday low prices. It operates through the following business segments: Walmart U.S., Walmart International, and Sam’s Club. The Walmart U.S. segment operates as a merchandiser of consumer products, operating under the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as walmart.com and other eCommerce brands.

Further Reading: Day Trading – Risk Worth the Reward?

Want to see what other hedge funds are holding WMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walmart Inc. (NYSE:WMT).

Institutional Ownership by Quarter for Walmart (NYSE:WMT)

Receive News & Ratings for Walmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walmart and related companies with MarketBeat.com's FREE daily email newsletter.