Corundum Group Inc. Boosts Position in Walmart Inc. (NYSE:WMT)

Corundum Group Inc. boosted its holdings in Walmart Inc. (NYSE:WMT) by 103.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,621 shares of the retailer’s stock after acquiring an additional 10,490 shares during the period. Corundum Group Inc.’s holdings in Walmart were worth $1,396,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WMT. Tennessee Valley Asset Management Partners acquired a new stake in shares of Walmart during the fourth quarter worth about $173,000. Consolidated Portfolio Review Corp grew its holdings in shares of Walmart by 7.8% in the 4th quarter. Consolidated Portfolio Review Corp now owns 1,453 shares of the retailer’s stock worth $229,000 after acquiring an additional 105 shares during the period. Cullen Investment Group LTD. purchased a new position in shares of Walmart in the fourth quarter valued at $16,872,000. Drake & Associates LLC purchased a new position in Walmart during the 4th quarter valued at about $298,000. Finally, Dakota Wealth Management raised its position in shares of Walmart by 5.9% during the 4th quarter. Dakota Wealth Management now owns 15,731 shares of the retailer’s stock worth $2,480,000 after purchasing an additional 876 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WMT. Barclays upped their price objective on shares of Walmart from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Roth Mkm raised their target price on Walmart from $69.00 to $71.00 and gave the company a “buy” rating in a report on Friday, May 17th. Wells Fargo & Company boosted their price objective on shares of Walmart from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Evercore ISI upped their price target on shares of Walmart from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Stifel Nicolaus boosted their price target on Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.09.

Insider Buying and Selling at Walmart

In related news, Director S Robson Walton sold 3,540,250 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $64.55, for a total value of $228,523,137.50. Following the completion of the transaction, the director now directly owns 648,504,011 shares of the company’s stock, valued at approximately $41,860,933,910.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Walmart news, Director S Robson Walton sold 3,540,250 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $64.55, for a total value of $228,523,137.50. Following the transaction, the director now directly owns 648,504,011 shares in the company, valued at approximately $41,860,933,910.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alice L. Walton sold 1,132,123 shares of the company’s 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 completion of the transaction, the insider now owns 647,371,888 shares in the company, valued at $42,092,120,157.76. The disclosure for this sale can be found here. Insiders have sold a total of 14,540,863 shares of company stock worth $954,455,147 over the last ninety days. 45.58% of the stock is currently owned by company insiders.

Walmart Trading Up 6.6 %

Shares of NYSE WMT traded up $4.52 during trading on Thursday, reaching $73.18. The company had a trading volume of 48,648,501 shares, compared to its average volume of 17,629,385. The company’s fifty day moving average price is $68.71 and its 200-day moving average price is $63.19. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $74.44. The stock has a market cap of $588.63 billion, a P/E ratio of 31.27, a PEG ratio of 3.91 and a beta of 0.50. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, beating 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 return on equity of 21.57% and a net margin of 2.88%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 EPS. As a group, research analysts expect that Walmart Inc. will post 2.43 earnings per share for the current year.

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.