Legacy Capital Group California Inc. Grows Holdings in Walmart Inc. (NYSE:WMT)

Legacy Capital Group California Inc. raised its position in Walmart Inc. (NYSE:WMT) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,029 shares of the retailer’s stock after buying an additional 449 shares during the period. Legacy Capital Group California Inc.’s holdings in Walmart were worth $1,424,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. AHL Investment Management Inc. grew its stake in shares of Walmart by 192.1% during the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock worth $1,444,000 after acquiring an additional 15,785 shares during the period. Valley Brook Capital Group Inc. boosted its position in Walmart by 4.2% during the fourth quarter. Valley Brook Capital Group Inc. now owns 7,816 shares of the retailer’s stock worth $1,232,000 after purchasing an additional 315 shares during the period. Core Wealth Advisors Inc. increased its stake in shares of Walmart by 38.9% in the fourth quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock worth $237,000 after purchasing an additional 420 shares in the last quarter. Liberty Wealth Management LLC bought a new stake in shares of Walmart in the first quarter valued at approximately $270,000. Finally, Commerce Bank lifted its stake in shares of Walmart by 189.4% during the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock valued at $55,213,000 after buying an additional 600,521 shares in the last quarter. Institutional investors own 26.76% of the company’s stock.

Walmart Price Performance

Shares of NYSE WMT traded up $0.84 during trading hours on Tuesday, reaching $74.56. 14,423,731 shares of the stock traded hands, compared to its average volume of 17,599,436. The company’s 50-day simple moving average is $69.15 and its two-hundred day simple moving average is $63.68. The company has a market capitalization of $599.73 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 4.04 and a beta of 0.50. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $74.75. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The firm had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same period last year, the firm posted $0.61 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Walmart Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WMT shares. Tigress Financial lifted their price objective on shares of Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up from $81.00) on shares of Walmart in a research report on Friday. Morgan Stanley boosted their price objective on Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday. KeyCorp raised their target price on Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, StockNews.com upgraded Walmart from a “buy” rating to a “strong-buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Walmart currently has an average rating of “Moderate Buy” and an average price target of $78.57.

Insiders Place Their Bets

In related news, Director S Robson Walton sold 982,038 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $65.39, for a total transaction of $64,215,464.82. Following the completion of the sale, the director now directly owns 644,511,850 shares in the company, valued at approximately $42,144,629,871.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $65.23, for a total value of $1,899,758.52. Following the sale, the chief executive officer now owns 3,989,526 shares of the company’s stock, valued at approximately $260,236,780.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director S Robson Walton sold 982,038 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $65.39, for a total transaction of $64,215,464.82. Following the transaction, the director now directly owns 644,511,850 shares of the company’s stock, valued at $42,144,629,871.50. The disclosure for this sale can be found here. Insiders sold 10,970,613 shares of company stock valued at $723,987,410 over the last three months. Insiders own 45.58% of the company’s stock.

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.