NewEdge Advisors LLC Has $51.45 Million Holdings in Walmart Inc. (NYSE:WMT)

NewEdge Advisors LLC lifted its stake in shares of Walmart Inc. (NYSE:WMT) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 759,835 shares of the retailer’s stock after purchasing an additional 57,137 shares during the period. NewEdge Advisors LLC’s holdings in Walmart were worth $51,448,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. AHL Investment Management Inc. boosted its position in Walmart by 192.1% in the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock valued at $1,444,000 after buying an additional 15,785 shares during the last quarter. Core Wealth Advisors Inc. lifted its stake in shares of Walmart by 38.9% during the fourth quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock valued at $237,000 after acquiring an additional 420 shares during the period. Liberty Wealth Management LLC bought a new position in Walmart in the first quarter valued at about $270,000. Commerce Bank raised its holdings in Walmart by 189.4% during the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock worth $55,213,000 after purchasing an additional 600,521 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Walmart by 290.7% during the 1st 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 period. 26.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WMT has been the topic of several analyst reports. Redburn Atlantic upgraded shares of Walmart to a “strong-buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Walmart in a research note on Friday, August 16th. UBS Group increased their target price on Walmart from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Bank of America upped their price target on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $80.96.

Walmart Stock Performance

WMT opened at $79.78 on Friday. The business’s 50-day simple moving average is $74.44 and its 200 day simple moving average is $67.52. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $81.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. The firm has a market capitalization of $641.71 billion, a PE ratio of 34.09, a PEG ratio of 4.04 and a beta of 0.51.

Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. Walmart’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. As a group, sell-side analysts expect that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Daniel J. Bartlett sold 2,063 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.76, for a total transaction of $166,607.88. Following the completion of the sale, the executive vice president now owns 459,558 shares in the company, valued at approximately $37,113,904.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the completion of the sale, the insider now owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel J. Bartlett sold 2,063 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.76, for a total transaction of $166,607.88. Following the completion of the transaction, the executive vice president now owns 459,558 shares in the company, valued at $37,113,904.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,317,999 shares of company stock valued at $956,341,379. 45.58% of the stock is owned by insiders.

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.