Retirement Systems of Alabama Purchases 161,120 Shares of Walmart Inc. (NYSE:WMT)

Retirement Systems of Alabama increased its holdings in Walmart Inc. (NYSE:WMT) by 9.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,935,792 shares of the retailer’s stock after buying an additional 161,120 shares during the period. Walmart accounts for approximately 0.6% of Retirement Systems of Alabama’s portfolio, making the stock its 26th largest holding. Retirement Systems of Alabama’s holdings in Walmart were worth $156,315,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new stake in shares of Walmart during the 3rd quarter valued at about $26,000. Voisard Asset Management Group Inc. lifted its position in Walmart by 77.3% during the third quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Hoese & Co LLP bought a new stake in Walmart during the third quarter valued at approximately $33,000. Cultivar Capital Inc. bought a new position in shares of Walmart in the 2nd quarter worth $29,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Walmart during the 3rd quarter valued at $36,000. Institutional investors own 26.76% of the company’s stock.

Walmart Stock Down 0.3 %

NYSE:WMT opened at $93.79 on Friday. The firm has a 50-day simple moving average of $85.83 and a two-hundred day simple moving average of $76.74. The firm has a market cap of $753.45 billion, a P/E ratio of 38.63, a P/E/G ratio of 4.51 and a beta of 0.54. Walmart Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $96.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.85.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $169.59 billion during the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. Analysts predict that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Sanford C. Bernstein upped their target price on shares of Walmart from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Redburn Atlantic upgraded Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. Truist Financial upped their target price on Walmart from $89.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Melius Research began coverage on shares of Walmart in a report on Monday, September 23rd. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Piper Sandler lifted their target price on shares of Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.33.

Insiders Place Their Bets

In related news, SVP David Chojnowski sold 5,600 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.45, for a total transaction of $512,120.00. Following the completion of the sale, the senior vice president now owns 87,404 shares in the company, valued at approximately $7,993,095.80. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $92.47, for a total value of $277,410.00. Following the completion of the transaction, the executive vice president now directly owns 375,165 shares in the company, valued at $34,691,507.55. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,309,091 shares of company stock valued at $183,375,539. Corporate 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.