Cadence Bank Purchases 467 Shares of Walmart Inc. (NYSE:WMT)

Cadence Bank lifted its position in shares of Walmart Inc. (NYSE:WMT) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,868 shares of the retailer’s stock after purchasing an additional 467 shares during the period. Walmart accounts for approximately 1.0% of Cadence Bank’s investment portfolio, making the stock its 19th biggest holding. Cadence Bank’s holdings in Walmart were worth $14,686,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WMT. Summit Financial Wealth Advisors LLC grew its stake in shares of Walmart by 0.5% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock worth $1,915,000 after acquiring an additional 118 shares in the last quarter. CAP Partners LLC boosted its stake in shares of Walmart by 2.1% in the 3rd quarter. CAP Partners LLC now owns 6,054 shares of the retailer’s stock worth $489,000 after buying an additional 125 shares during the last quarter. Investment Advisory Group LLC grew 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 valued at $499,000 after acquiring an additional 126 shares in the last quarter. Jag Capital Management LLC lifted its holdings in 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 period. Finally, Carlson Capital Management grew its stake in Walmart by 1.8% in the 3rd quarter. Carlson Capital Management now owns 7,499 shares of the retailer’s stock valued at $606,000 after purchasing an additional 134 shares during the period. 26.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WMT. Royal Bank of Canada lifted their target price on Walmart from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Redburn Atlantic upgraded shares of Walmart to a “strong-buy” rating in a research note on Monday, September 23rd. Stifel Nicolaus increased their price objective on Walmart from $85.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. KeyCorp boosted their target price on Walmart from $88.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, Piper Sandler lifted their price objective on Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.88.

Insider Buying and Selling

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total transaction of $2,348,559.36. Following the completion of the transaction, the chief executive officer now directly owns 3,873,053 shares in the company, valued at $312,322,993.92. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the insider now directly owns 630,501,148 shares in the company, valued at $48,781,873,820.76. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,337,337 shares of company stock valued at $958,823,647 over the last ninety days. Company insiders own 45.58% of the company’s stock.

Walmart Stock Up 2.0 %

Shares of Walmart stock opened at $91.31 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.56. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $91.88. The company has a market cap of $733.97 billion, a P/E ratio of 37.47, a PEG ratio of 4.25 and a beta of 0.51. The company’s fifty day simple moving average is $82.55 and its two-hundred day simple moving average is $74.36.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The business had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. During the same period last year, the business posted $0.51 earnings per share. Walmart’s quarterly revenue was up 5.5% compared to the same quarter last year. Research 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.