Tower Wealth Partners Inc. Increases Stake in Walmart Inc. (NYSE:WMT)

Tower Wealth Partners Inc. increased its holdings in Walmart Inc. (NYSE:WMT) by 220.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,964 shares of the retailer’s stock after acquiring an additional 4,791 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Walmart were worth $419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northwest Capital Management Inc lifted its position in shares of Walmart by 199.3% in the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after purchasing an additional 293 shares during the period. Partnership Wealth Management LLC bought a new position in Walmart in the fourth quarter worth approximately $30,000. Able Wealth Management LLC purchased a new stake in Walmart during the fourth quarter worth $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Walmart during the 4th quarter valued at $32,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of Walmart in the 4th quarter valued at $35,000. 26.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WMT. Tigress Financial upped their price objective on Walmart from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Truist Financial raised their price target on shares of Walmart from $60.00 to $64.00 and gave the company a “hold” rating in a report on Friday, May 17th. Telsey Advisory Group lifted their price objective on shares of Walmart from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Oppenheimer increased their target price on shares of Walmart from $69.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Finally, Stifel Nicolaus lifted their price target on shares of Walmart from $69.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.47.

Insider Activity at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $60.03, for a total value of $1,748,313.72. Following the sale, the chief executive officer now owns 4,018,650 shares in the company, valued at approximately $241,239,559.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $60.03, for a total value of $1,748,313.72. Following the completion of the transaction, the chief executive officer now directly owns 4,018,650 shares in the company, valued at approximately $241,239,559.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director S Robson Walton sold 3,540,250 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $64.55, for a total transaction of $228,523,137.50. Following the sale, the director now owns 648,504,011 shares in the company, valued at approximately $41,860,933,910.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,525,340 shares of company stock worth $953,023,399. 45.58% of the stock is owned by corporate insiders.

Walmart Stock Up 0.2 %

NYSE:WMT opened at $68.24 on Friday. The firm has a market capitalization of $548.89 billion, a P/E ratio of 29.20, a PEG ratio of 3.93 and a beta of 0.50. The company’s fifty day moving average price is $64.57 and its 200-day moving average price is $59.71. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $69.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.80 and a quick ratio of 0.23.

Walmart (NYSE:WMT) last announced its quarterly earnings results 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. The company had revenue of $161.50 billion for the quarter, compared to the consensus estimate of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. As a group, equities research analysts anticipate that Walmart Inc. will post 2.43 EPS for the current year.

Walmart Company 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.