Absolute Capital Management LLC Makes New $370,000 Investment in Walmart Inc. (NYSE:WMT)

Absolute Capital Management LLC bought a new position in shares of Walmart Inc. (NYSE:WMT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,146 shares of the retailer’s stock, valued at approximately $370,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WMT. AHL Investment Management Inc. boosted its position in shares of Walmart by 192.1% during the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock worth $1,444,000 after acquiring an additional 15,785 shares in the last quarter. Valley Brook Capital Group Inc. boosted its position in shares of Walmart by 4.2% during the 4th quarter. Valley Brook Capital Group Inc. now owns 7,816 shares of the retailer’s stock worth $1,232,000 after acquiring an additional 315 shares in the last quarter. Core Wealth Advisors Inc. boosted its position in shares of Walmart by 38.9% during the 4th quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock worth $237,000 after acquiring an additional 420 shares in the last quarter. Motco lifted its stake in Walmart by 1.3% in the 4th quarter. Motco now owns 58,301 shares of the retailer’s stock valued at $9,191,000 after purchasing an additional 726 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in Walmart by 189.4% in the 1st quarter. Private Advisor Group LLC now owns 643,848 shares of the retailer’s stock valued at $38,740,000 after purchasing an additional 421,366 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on WMT shares. Evercore ISI increased their price objective on shares of Walmart from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Piper Sandler began coverage on shares of Walmart in a research note on Wednesday. They set an “overweight” rating and a $81.00 price target for the company. HSBC raised their price target on shares of Walmart from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Barclays lifted their target price on shares of Walmart from $60.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, DA Davidson lifted their target price on shares of Walmart from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

Walmart Stock Performance

NYSE WMT opened at $70.40 on Thursday. The company’s 50 day moving average is $65.56 and its 200-day moving average is $60.34. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $70.44. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48. The firm has a market cap of $566.27 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 4.02 and a beta of 0.50.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share (EPS) for the quarter, beating 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 company had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that Walmart Inc. will post 2.43 earnings per share for the current year.

Insider Activity at Walmart

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $60.03, for a total transaction of $1,748,313.72. Following the completion of the transaction, the chief executive officer now owns 4,018,650 shares of the company’s stock, valued at $241,239,559.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $59.08, for a total transaction of $177,240.00. Following the sale, the executive vice president now owns 521,613 shares in the company, valued at approximately $30,816,896.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $60.03, for a total transaction of $1,748,313.72. Following the sale, the chief executive officer now directly owns 4,018,650 shares of the company’s stock, valued at $241,239,559.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,525,340 shares of company stock valued at $953,023,399. Corporate insiders own 45.58% of the company’s stock.

About Walmart

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.