King Wealth Management Group Increases Holdings in Walmart Inc. (NYSE:WMT)

King Wealth Management Group raised its stake in Walmart Inc. (NYSE:WMT) by 5.5% during the 4th quarter, HoldingsChannel reports. The firm owned 127,071 shares of the retailer’s stock after acquiring an additional 6,681 shares during the quarter. Walmart accounts for about 1.7% of King Wealth Management Group’s portfolio, making the stock its 18th largest position. King Wealth Management Group’s holdings in Walmart were worth $11,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB boosted its stake in shares of Walmart by 0.4% in the third quarter. Swedbank AB now owns 5,345,293 shares of the retailer’s stock valued at $431,632,000 after purchasing an additional 18,644 shares during the period. Principal Financial Group Inc. grew its holdings in Walmart by 14.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock worth $503,517,000 after acquiring an additional 809,352 shares in the last quarter. Versor Investments LP bought a new stake in Walmart in the third quarter valued at about $231,000. MQS Management LLC bought a new position in Walmart during the 3rd quarter worth approximately $492,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Walmart in the 3rd quarter worth approximately $18,692,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Trading Down 1.0 %

Shares of NYSE WMT opened at $84.36 on Friday. The business has a fifty day simple moving average of $95.85 and a 200-day simple moving average of $88.56. The company has a market cap of $677.67 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 4.42 and a beta of 0.53. Walmart Inc. has a 12 month low of $58.56 and a 12 month high of $105.30. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $180.55 billion during the quarter, compared to analysts’ expectations of $178.83 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. Sell-side analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.11%. Walmart’s payout ratio is currently 39.00%.

Insider Activity

In other news, EVP John D. Rainey sold 38,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $98.80, for a total value of $3,754,400.00. Following the transaction, the executive vice president now owns 257,281 shares in the company, valued at $25,419,362.80. This represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $96.15, for a total transaction of $1,261,968.75. Following the sale, the executive vice president now directly owns 460,672 shares of the company’s stock, valued at $44,293,612.80. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,777 shares of company stock worth $17,657,316 over the last quarter. Corporate insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WMT shares. Citigroup reissued a “positive” rating on shares of Walmart in a research report on Thursday, February 20th. Jefferies Financial Group boosted their price objective on Walmart from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Robert W. Baird increased their target price on Walmart from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Piper Sandler boosted their price target on shares of Walmart from $93.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, StockNews.com lowered shares of Walmart from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $103.20.

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.