Sovereign Financial Group Inc. Has $563,000 Stock Holdings in Walmart Inc. (NYSE:WMT)

Sovereign Financial Group Inc. raised its stake in Walmart Inc. (NYSE:WMT) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,977 shares of the retailer’s stock after purchasing an additional 344 shares during the period. Sovereign Financial Group Inc.’s holdings in Walmart were worth $563,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Hoxton Planning & Management LLC grew its holdings in shares of Walmart by 9.3% during the 3rd quarter. Hoxton Planning & Management LLC now owns 5,368 shares of the retailer’s stock worth $433,000 after purchasing an additional 458 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Walmart during the 3rd quarter worth approximately $297,000. Talbot Financial LLC acquired a new stake in Walmart in the third quarter valued at $222,000. Cape ANN Savings Bank raised its position in shares of Walmart by 147.5% during the third quarter. Cape ANN Savings Bank now owns 9,906 shares of the retailer’s stock worth $800,000 after acquiring an additional 5,904 shares during the last quarter. Finally, Trust Co of Kansas bought a new stake in shares of Walmart in the 3rd quarter valued at $361,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Price Performance

NYSE WMT opened at $79.71 on Wednesday. The company has a market cap of $640.73 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 4.05 and a beta of 0.51. 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 firm’s 50-day simple moving average is $75.88 and its two-hundred day simple moving average is $68.52. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $81.60.

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

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $69.19, for a total transaction of $207,570.00. Following the completion of the transaction, the executive vice president now owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $69.19, for a total transaction of $207,570.00. Following the completion of the sale, the executive vice president now owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Bartlett sold 2,398 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $69.50, for a total value of $166,661.00. Following the completion of the transaction, the executive vice president now owns 463,871 shares in the company, valued at $32,239,034.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,337,670 shares of company stock worth $958,267,937 in the last quarter. 45.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and increased their price target for the stock from $76.00 to $89.00 in a report on Tuesday, September 24th. Bank of America lifted their price target on shares of Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. BMO Capital Markets reissued an “outperform” rating and set a $80.00 price objective on shares of Walmart in a research report on Friday, August 16th. Jefferies Financial Group upped their price target on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, UBS Group raised their price objective on Walmart from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Walmart has an average rating of “Buy” and an average price target of $81.96.

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.