Intact Investment Management Inc. increased its position in Walmart Inc. (NYSE:WMT) by 43.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,700 shares of the retailer’s stock after acquiring an additional 15,400 shares during the period. Intact Investment Management Inc.’s holdings in Walmart were worth $7,150,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in Walmart by 6.8% during the 2nd quarter. Jennison Associates LLC now owns 1,447,071 shares of the retailer’s stock valued at $204,066,000 after buying an additional 91,659 shares during the period. Paradigm Financial Partners LLC raised its holdings in Walmart by 10.9% during the second quarter. Paradigm Financial Partners LLC now owns 21,083 shares of the retailer’s stock worth $2,973,000 after purchasing an additional 2,069 shares in the last quarter. Kowal Investment Group LLC lifted its position in Walmart by 5.1% in the second quarter. Kowal Investment Group LLC now owns 3,124 shares of the retailer’s stock worth $441,000 after purchasing an additional 153 shares during the period. Quilter Plc boosted its stake in Walmart by 1.2% during the 2nd quarter. Quilter Plc now owns 31,957 shares of the retailer’s stock valued at $4,507,000 after purchasing an additional 372 shares in the last quarter. Finally, Financial Insights Inc. acquired a new position in shares of Walmart during the 2nd quarter valued at $56,000. Institutional investors own 30.22% of the company’s stock.
WMT stock opened at $143.17 on Monday. The company has a 50 day moving average of $145.85 and a two-hundred day moving average of $141.22. The company has a market cap of $399.23 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 4.21 and a beta of 0.47. Walmart Inc. has a 12-month low of $126.28 and a 12-month high of $153.66. The company has a quick ratio of 0.38, a current ratio of 0.96 and a debt-to-equity ratio of 0.50.
In related news, major shareholder Alice L. Walton sold 6,906,863 shares of Walmart stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $137.40, for a total value of $949,002,976.20. Following the completion of the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $927,254,892. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO C Douglas Mcmillon sold 9,708 shares of the firm’s stock in a transaction that occurred on Thursday, July 22nd. The shares were sold at an average price of $141.21, for a total value of $1,370,866.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,118,987 shares of company stock worth $2,162,036,158. Insiders own 48.44% of the company’s stock.
WMT has been the subject of several research reports. Evercore ISI reaffirmed a “hold” rating on shares of Walmart in a research note on Thursday, August 19th. Raymond James lifted their price objective on shares of Walmart from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 18th. Wells Fargo & Company raised shares of Walmart from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $165.00 in a research note on Thursday, August 5th. UBS Group lifted their price target on shares of Walmart from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 18th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $160.00 price objective (up previously from $155.00) on shares of Walmart in a research report on Tuesday, August 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $168.17.
Walmart Company Profile
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.
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