Exchange Traded Concepts LLC Acquires 64,539 Shares of Walmart Inc. (NYSE:WMT)

Exchange Traded Concepts LLC boosted its holdings in Walmart Inc. (NYSE:WMT) by 27.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 296,169 shares of the retailer’s stock after buying an additional 64,539 shares during the period. Exchange Traded Concepts LLC’s holdings in Walmart were worth $26,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in Walmart during the 4th quarter worth approximately $25,000. Horizon Financial Services LLC boosted its position in Walmart by 1,007.7% during the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. Noble Wealth Management PBC acquired a new position in Walmart during the 4th quarter worth approximately $37,000. Mizuho Bank Ltd. acquired a new position in Walmart during the 4th quarter worth approximately $41,000. Finally, Nexus Investment Management ULC acquired a new position in Walmart during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Stock Down 0.7%

Shares of NYSE:WMT opened at $94.20 on Friday. The business’s 50 day moving average is $95.79 and its 200 day moving average is $94.08. 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 12-month low of $66.41 and a 12-month high of $105.30. The stock has a market cap of $751.76 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 4.42 and a beta of 0.69.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The business had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WMT shares. Mizuho increased their price objective on Walmart from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, June 9th. Erste Group Bank cut Walmart from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Wall Street Zen upgraded Walmart from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Barclays restated an “overweight” rating on shares of Walmart in a research note on Friday, February 28th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Walmart in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Walmart presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Insider Activity

In other Walmart news, EVP Kathryn J. Mclay sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $85.95, for a total value of $343,800.00. Following the transaction, the executive vice president now directly owns 888,309 shares in the company, valued at $76,350,158.55. This represents a 0.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $99.00, for a total value of $217,800.00. Following the completion of the transaction, the executive vice president now owns 630,518 shares in the company, valued at $62,421,282. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,534 shares of company stock valued at $12,833,664 in the last 90 days. Insiders own 45.58% of the company’s stock.

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.