Sunpointe LLC Invests $665,000 in Walmart Inc. (NYSE:WMT)

Sunpointe LLC acquired a new stake in Walmart Inc. (NYSE:WMT) in the fourth quarter, Holdings Channel.com reports. The fund acquired 4,201 shares of the retailer’s stock, valued at approximately $665,000. Walmart accounts for 0.8% of Sunpointe LLC’s holdings, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Walmart in the fourth quarter valued at approximately $3,674,652,000. BlueSpruce Investments LP acquired a new position in shares of Walmart in the 4th quarter valued at $568,419,000. International Assets Investment Management LLC grew its holdings in shares of Walmart by 15,371.4% during the 4th quarter. International Assets Investment Management LLC now owns 3,511,225 shares of the retailer’s stock worth $553,545,000 after purchasing an additional 3,488,530 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Walmart by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,235,920 shares of the retailer’s stock worth $3,190,194,000 after purchasing an additional 2,150,351 shares during the last quarter. Finally, FMR LLC increased its position in shares of Walmart by 8.5% during the 3rd quarter. FMR LLC now owns 16,873,127 shares of the retailer’s stock worth $2,698,519,000 after purchasing an additional 1,317,729 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Walmart news, major shareholder Alice L. Walton sold 1,132,123 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $65.02, for a total value of $73,610,637.46. Following the completion of the transaction, the insider now owns 647,371,888 shares in the company, valued at $42,092,120,157.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Walmart news, major shareholder Alice L. Walton sold 1,132,123 shares of Walmart stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $65.02, for a total transaction of $73,610,637.46. Following the transaction, the insider now owns 647,371,888 shares of the company’s stock, valued at $42,092,120,157.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.08, for a total value of $177,240.00. Following the completion of the sale, the executive vice president now owns 521,613 shares of the company’s stock, valued at approximately $30,816,896.04. The disclosure for this sale can be found here. Insiders have sold 14,493,971 shares of company stock worth $950,549,592 in the last ninety days. 45.58% of the stock is owned by corporate insiders.

Walmart Stock Up 0.5 %

Shares of NYSE:WMT traded up $0.34 on Friday, hitting $67.04. 12,587,972 shares of the company’s stock were exchanged, compared to its average volume of 18,256,240. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $67.57. The company has a market capitalization of $539.24 billion, a PE ratio of 28.69, a P/E/G ratio of 3.83 and a beta of 0.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.23 and a current ratio of 0.80. The firm’s 50-day moving average is $62.47 and its 200 day moving average is $58.15.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The firm had revenue of $161.50 billion during the quarter, compared to the consensus estimate of $159.57 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that Walmart Inc. will post 2.42 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Walmart from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $81.00 in a research note on Monday. Truist Financial boosted their target price on Walmart from $60.00 to $64.00 and gave the company a “hold” rating in a research report on Friday, May 17th. HSBC upped their price target on Walmart from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Europe lifted their price objective on Walmart from $56.33 to $58.33 in a research note on Friday, February 16th. Finally, KeyCorp increased their target price on Walmart from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.94.

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.