Redmond Asset Management LLC Acquires Shares of 22,666 Walmart Inc. (NYSE:WMT)

Redmond Asset Management LLC acquired a new stake in shares of Walmart Inc. (NYSE:WMT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 22,666 shares of the retailer’s stock, valued at approximately $2,048,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WMT. Brophy Wealth Management LLC purchased a new position in shares of Walmart in the 3rd quarter worth about $2,072,000. Bank of New Hampshire raised its position in shares of Walmart by 13.7% in the 4th quarter. Bank of New Hampshire now owns 47,949 shares of the retailer’s stock worth $4,332,000 after purchasing an additional 5,786 shares during the last quarter. Iowa State Bank raised its position in shares of Walmart by 213.8% in the 4th quarter. Iowa State Bank now owns 26,807 shares of the retailer’s stock worth $2,422,000 after purchasing an additional 18,263 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Walmart by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock worth $3,848,533,000 after purchasing an additional 2,107,197 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Walmart in the 3rd quarter worth about $541,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Wall Street Analyst Weigh In

WMT has been the subject of several recent analyst reports. Oppenheimer lifted their price target on Walmart from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Piper Sandler lifted their price target on Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group reduced their price objective on Walmart from $113.00 to $112.00 and set a “buy” rating for the company in a report on Friday. StockNews.com downgraded Walmart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Jefferies Financial Group lifted their price objective on Walmart from $105.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Two 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.43.

Insider Buying and Selling

In related news, EVP Daniel J. Bartlett sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $103.99, for a total value of $166,384.00. Following the transaction, the executive vice president now directly owns 423,597 shares of the company’s stock, valued at approximately $44,049,852.03. The trade was a 0.38 % 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 D. Rainey sold 38,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $98.80, for a total value of $3,754,400.00. Following the completion of the transaction, the executive vice president now directly owns 257,281 shares in the company, valued at approximately $25,419,362.80. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,777 shares of company stock valued at $16,570,112. Corporate insiders own 45.58% of the company’s stock.

Walmart Stock Down 2.6 %

WMT stock opened at $94.70 on Friday. The business’s 50-day moving average price is $95.63 and its 200-day moving average price is $86.44. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. Walmart Inc. has a twelve month low of $57.77 and a twelve month high of $105.30. The stock has a market cap of $760.77 billion, a P/E ratio of 39.30, a PEG ratio of 4.42 and a beta of 0.55.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The company had revenue of $180.55 billion for the quarter, compared to analysts’ expectations of $178.83 billion. On average, equities research analysts forecast that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a yield of 0.99%. Walmart’s dividend payout ratio is presently 34.44%.

Walmart 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.