Walmart Inc. (NYSE:WMT) Shares Purchased by Chemung Canal Trust Co.

Chemung Canal Trust Co. boosted its stake in shares of Walmart Inc. (NYSE:WMT) by 199.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,733 shares of the retailer’s stock after acquiring an additional 90,418 shares during the quarter. Walmart comprises 1.6% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 19th biggest holding. Chemung Canal Trust Co.’s holdings in Walmart were worth $8,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of WMT. Northwest Capital Management Inc grew its position in Walmart by 199.3% in the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock valued at $26,000 after buying an additional 293 shares during the last quarter. Partnership Wealth Management LLC acquired a new stake in shares of Walmart in the 4th quarter worth $30,000. Able Wealth Management LLC purchased a new stake in shares of Walmart in the fourth quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Walmart during the fourth quarter worth about $32,000. Finally, Signature Resources Capital Management LLC purchased a new position in Walmart during the fourth quarter worth about $35,000. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WMT has been the topic of a number of analyst reports. Telsey Advisory Group lifted their price objective on Walmart from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, June 10th. TD Cowen lifted their price target on Walmart from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley increased their price objective on Walmart from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Royal Bank of Canada upped their price target on shares of Walmart from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus raised their price objective on shares of Walmart from $65.00 to $69.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.97.

Insider Activity

In related news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $59.08, for a total value of $177,240.00. Following the transaction, the executive vice president now directly owns 521,613 shares of the company’s stock, valued at approximately $30,816,896.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.08, for a total value of $177,240.00. Following the transaction, the executive vice president now owns 521,613 shares in the company, valued at $30,816,896.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alice L. Walton sold 1,132,123 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $65.02, for a total transaction of $73,610,637.46. Following the sale, the insider now owns 647,371,888 shares of the company’s stock, valued at $42,092,120,157.76. The disclosure for this sale can be found here. Insiders sold 14,499,762 shares of company stock valued at $951,294,838 in the last ninety days. Company insiders own 45.58% of the company’s stock.

Walmart Stock Performance

NYSE WMT opened at $67.71 on Monday. The business’s 50-day moving average price is $64.07 and its 200 day moving average price is $59.41. The company has a current ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $69.04. The company has a market capitalization of $544.63 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 3.91 and a beta of 0.50.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The business had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company’s revenue was up 6.0% on a year-over-year basis. On average, research analysts predict that Walmart Inc. will post 2.42 earnings per share for the current year.

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.