Chesapeake Wealth Management Raises Holdings in Walmart Inc. (NYSE:WMT)

Chesapeake Wealth Management lifted its position in Walmart Inc. (NYSE:WMT) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,795 shares of the retailer’s stock after purchasing an additional 1,349 shares during the quarter. Chesapeake Wealth Management’s holdings in Walmart were worth $1,747,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. AHL Investment Management Inc. increased its stake in Walmart by 192.1% in 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 during the last quarter. Core Wealth Advisors Inc. grew its holdings in shares of Walmart by 38.9% in the fourth quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock valued at $237,000 after purchasing an additional 420 shares in the last quarter. Liberty Wealth Management LLC bought a new stake in Walmart in the first quarter worth $270,000. Commerce Bank raised its stake in Walmart by 189.4% during the first quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock valued at $55,213,000 after purchasing an additional 600,521 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Walmart by 290.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock valued at $16,250,000 after purchasing an additional 200,947 shares during the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Walmart news, major shareholder S Robson Walton sold 359,616 shares of Walmart stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $78.25, for a total value of $28,139,952.00. Following the transaction, the insider now owns 603,989,702 shares in the company, valued at $47,262,194,181.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Walmart news, major shareholder S Robson Walton sold 359,616 shares of Walmart stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $78.25, for a total value of $28,139,952.00. Following the transaction, the insider now directly owns 603,989,702 shares of the company’s stock, valued at $47,262,194,181.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Chojnowski sold 8,791 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $68.00, for a total value of $597,788.00. Following the sale, the senior vice president now owns 94,415 shares of the company’s stock, valued at approximately $6,420,220. The disclosure for this sale can be found here. Insiders sold a total of 12,369,039 shares of company stock worth $959,826,083 over the last 90 days. Company insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Truist Financial boosted their price objective on Walmart from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Roth Mkm upped their price objective on Walmart from $71.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. The Goldman Sachs Group lifted their target price on Walmart from $73.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, DA Davidson increased their price target on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.99.

Walmart Trading Up 1.3 %

WMT opened at $79.06 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $73.44 and its two-hundred day moving average is $66.78. The company has a market capitalization of $635.92 billion, a P/E ratio of 33.79, a PEG ratio of 4.03 and a beta of 0.51. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $81.02.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast that Walmart Inc. will post 2.44 earnings per share for the current year.

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.