Cibc World Markets Corp Increases Stake in Walmart Inc. (NYSE:WMT)

Cibc World Markets Corp lifted its stake in Walmart Inc. (NYSE:WMT) by 43.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,810,631 shares of the retailer’s stock after acquiring an additional 545,383 shares during the period. Walmart comprises about 1.0% of Cibc World Markets Corp’s holdings, making the stock its 22nd biggest position. Cibc World Markets Corp’s holdings in Walmart were worth $163,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WMT. Geode Capital Management LLC raised its position in Walmart by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock worth $7,048,465,000 after buying an additional 2,786,061 shares during the last quarter. FMR LLC raised its position in Walmart by 12.9% during the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock worth $5,098,203,000 after buying an additional 7,200,004 shares during the last quarter. Fisher Asset Management LLC raised its position in Walmart by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 48,793,045 shares of the retailer’s stock worth $4,408,452,000 after buying an additional 1,133,201 shares during the last quarter. Franklin Resources Inc. raised its position in Walmart by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer’s stock worth $3,392,658,000 after buying an additional 1,480,927 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Walmart by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 32,020,800 shares of the retailer’s stock worth $2,893,079,000 after buying an additional 3,927,173 shares during the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Price Performance

WMT stock opened at $85.29 on Monday. The business has a 50 day moving average price of $95.74 and a 200 day moving average price of $88.80. The stock has a market cap of $685.19 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 4.42 and a beta of 0.53. Walmart Inc. has a fifty-two week low of $58.56 and a fifty-two week 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 issued its quarterly earnings data on Thursday, February 20th. The retailer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The company had revenue of $180.55 billion during the quarter, compared to analysts’ expectations of $178.83 billion. Equities research analysts anticipate that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Friday, December 12th. Walmart’s dividend payout ratio is presently 39.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on WMT. Robert W. Baird raised their price target on shares of Walmart from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Piper Sandler raised their price objective on shares of Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $115.00 price objective (up previously from $106.00) on shares of Walmart in a research note on Thursday, February 13th. Stifel Nicolaus raised their price objective on shares of Walmart from $89.00 to $94.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, Tigress Financial raised their price objective on shares of Walmart from $86.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $103.20.

Insider Buying and Selling

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $92.35, for a total transaction of $2,689,601.40. Following the transaction, the chief executive officer now owns 3,785,702 shares of the company’s stock, valued at $349,609,579.70. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel J. Bartlett sold 1,830 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.07, for a total value of $166,658.10. Following the transaction, the executive vice president now directly owns 460,705 shares in the company, valued at $41,956,404.35. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,777 shares of company stock valued at $17,657,316 over the last quarter. Company insiders own 45.58% of the company’s stock.

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.