Eastern Bank grew its stake in shares of Walmart Inc. (NYSE:WMT – Free Report) by 128.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,346,897 shares of the retailer’s stock after acquiring an additional 756,064 shares during the quarter. Walmart comprises about 1.9% of Eastern Bank’s portfolio, making the stock its 10th biggest holding. Eastern Bank’s holdings in Walmart were worth $108,762,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of WMT. Investment Advisory Group LLC raised its holdings in shares of Walmart by 2.1% during the 3rd quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock worth $499,000 after buying an additional 126 shares in the last quarter. Professional Financial Advisors LLC grew its position in Walmart by 0.6% in the third quarter. Professional Financial Advisors LLC now owns 21,839 shares of the retailer’s stock valued at $1,763,000 after acquiring an additional 137 shares during the last quarter. Inspire Advisors LLC lifted its holdings in shares of Walmart by 2.1% in the third quarter. Inspire Advisors LLC now owns 6,677 shares of the retailer’s stock worth $539,000 after acquiring an additional 137 shares during the last quarter. Trust Co of the South boosted its stake in shares of Walmart by 0.5% in the 3rd quarter. Trust Co of the South now owns 25,647 shares of the retailer’s stock valued at $2,071,000 after purchasing an additional 138 shares in the last quarter. Finally, LVZ Inc. grew its holdings in shares of Walmart by 1.9% during the 2nd quarter. LVZ Inc. now owns 7,824 shares of the retailer’s stock valued at $530,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 26.76% of the company’s stock.
Walmart Trading Up 1.5 %
Shares of Walmart stock opened at $82.02 on Wednesday. The stock has a market capitalization of $659.73 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 4.07 and a beta of 0.51. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $82.22. The stock has a 50 day moving average price of $78.42 and a two-hundred day moving average price of $69.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Redburn Atlantic upgraded shares of Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Walmart from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Evercore ISI increased their target price on Walmart from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday. StockNews.com upgraded Walmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Finally, TD Cowen lifted their target price on shares of Walmart from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $83.51.
View Our Latest Stock Analysis on Walmart
Insider Activity
In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.61, for a total value of $2,056,445.64. Following the sale, the chief executive officer now owns 3,931,301 shares in the company, valued at $277,589,163.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the transaction, the insider now owns 611,988,318 shares in the company, valued at $47,245,498,149.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.61, for a total value of $2,056,445.64. Following the sale, the chief executive officer now owns 3,931,301 shares of the company’s stock, valued at $277,589,163.61. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,337,337 shares of company stock worth $958,267,901 over the last three months. 45.58% of the stock is currently owned by insiders.
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.
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