Cardinal Capital Management Acquires 111,167 Shares of Walmart Inc. (NYSE:WMT)

Cardinal Capital Management raised its holdings in Walmart Inc. (NYSE:WMT) by 218.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,974 shares of the retailer’s stock after buying an additional 111,167 shares during the quarter. Walmart accounts for approximately 1.6% of Cardinal Capital Management’s holdings, making the stock its 15th biggest holding. Cardinal Capital Management’s holdings in Walmart were worth $9,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AHL Investment Management Inc. lifted its position in Walmart by 192.1% during the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock worth $1,444,000 after buying an additional 15,785 shares in the last quarter. Valley Brook Capital Group Inc. lifted its position in Walmart by 4.2% during the 4th quarter. Valley Brook Capital Group Inc. now owns 7,816 shares of the retailer’s stock worth $1,232,000 after buying an additional 315 shares in the last quarter. Core Wealth Advisors Inc. lifted its position in Walmart by 38.9% during the 4th quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock worth $237,000 after buying an additional 420 shares in the last quarter. Motco lifted its position in Walmart by 1.3% during the 4th quarter. Motco now owns 58,301 shares of the retailer’s stock worth $9,191,000 after buying an additional 726 shares in the last quarter. Finally, Sovereign Financial Group Inc. lifted its position in Walmart by 204.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 6,515 shares of the retailer’s stock worth $392,000 after buying an additional 4,374 shares in the last quarter. Institutional investors own 26.76% of the company’s stock.

Insider Activity

In other news, major shareholder Alice L. Walton sold 3,633,800 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $66.80, for a total value of $242,737,840.00. Following the completion of the sale, the insider now owns 636,898,811 shares of the company’s stock, valued at approximately $42,544,840,574.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Walmart news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $60.26, for a total transaction of $180,780.00. Following the completion of the sale, the executive vice president now owns 524,613 shares of the company’s stock, valued at approximately $31,613,179.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 3,633,800 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $66.80, for a total value of $242,737,840.00. Following the sale, the insider now directly owns 636,898,811 shares of the company’s stock, valued at approximately $42,544,840,574.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,451,722 shares of company stock valued at $947,990,915. 45.58% of the stock is owned by insiders.

Analysts Set New Price Targets

WMT has been the topic of several research reports. Morgan Stanley upped their price target on shares of Walmart from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. upgraded shares of Walmart from a “neutral” rating to an “overweight” rating and upped their target price for the company from $66.00 to $81.00 in a research report on Monday, June 10th. DA Davidson upped their target price on shares of Walmart from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 17th. TD Cowen upped their target price on shares of Walmart from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Jefferies Financial Group upped their target price on shares of Walmart from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Three research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, Walmart has an average rating of “Moderate Buy” and an average price target of $69.97.

Walmart Price Performance

Shares of WMT opened at $67.88 on Friday. The stock has a market capitalization of $546.00 billion, a P/E ratio of 29.05, a P/E/G ratio of 3.94 and a beta of 0.52. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $69.04. The company has a 50 day moving average of $63.74 and a 200-day moving average of $59.11. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. As a group, equities research analysts forecast that Walmart Inc. will post 2.42 EPS for the current fiscal year.

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.