Pinnacle Financial Partners Inc. increased its position in shares of Walmart Inc (NYSE:WMT) by 82.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,106 shares of the retailer’s stock after acquiring an additional 13,172 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Walmart were worth $2,733,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of WMT. Bank of Montreal Can bought a new stake in Walmart during the 2nd quarter worth $624,899,000. Putnam Investments LLC grew its position in Walmart by 836.2% during the 2nd quarter. Putnam Investments LLC now owns 5,511,548 shares of the retailer’s stock worth $472,064,000 after acquiring an additional 4,922,857 shares during the last quarter. Renaissance Technologies LLC grew its position in Walmart by 1,431.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,322,500 shares of the retailer’s stock worth $284,572,000 after acquiring an additional 3,105,600 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Walmart during the 2nd quarter worth $265,661,000. Finally, Cornerstone Wealth Management LLC grew its position in Walmart by 8,606.2% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,818,288 shares of the retailer’s stock worth $21,648,000 after acquiring an additional 1,797,403 shares during the last quarter. Institutional investors and hedge funds own 29.42% of the company’s stock.
In related news, Director S Robson Walton sold 881,158 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $86,001,020.80. Following the sale, the director now owns 3,347,254 shares in the company, valued at approximately $326,691,990.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 594,396 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $98.28, for a total value of $58,417,238.88. Following the sale, the insider now owns 6,748,580 shares in the company, valued at approximately $663,250,442.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,199,130 shares of company stock worth $976,228,654. 51.11% of the stock is owned by corporate insiders.
Shares of Walmart stock opened at $101.34 on Monday. Walmart Inc has a one year low of $81.78 and a one year high of $109.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 0.93. The stock has a market cap of $300.21 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 4.19 and a beta of 0.35.
Walmart (NYSE:WMT) last announced its earnings results on Thursday, August 16th. The retailer reported $1.29 EPS for the quarter, beating the consensus estimate of $1.22 by $0.07. Walmart had a return on equity of 18.16% and a net margin of 1.02%. The company had revenue of $127.06 billion for the quarter, compared to analyst estimates of $124.67 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts expect that Walmart Inc will post 4.77 earnings per share for the current fiscal year.
WMT has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Walmart to $108.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th. Deutsche Bank upgraded Walmart from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $113.00 in a research report on Tuesday, October 9th. BMO Capital Markets initiated coverage on Walmart in a research report on Monday, September 17th. They set an “outperform” rating and a $110.00 price objective on the stock. Wells Fargo & Co restated a “neutral” rating and set a $95.00 price objective on shares of Walmart in a research report on Thursday, August 16th. Finally, Jefferies Financial Group set a $112.00 price target on Walmart and gave the company a “buy” rating in a research report on Monday, August 27th. Eighteen research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $103.16.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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