Pinnacle West Asset Management Inc. Boosts Holdings in Walmart Inc. (NYSE:WMT)

Pinnacle West Asset Management Inc. lifted its stake in Walmart Inc. (NYSE:WMT) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,355 shares of the retailer’s stock after purchasing an additional 350 shares during the quarter. Walmart accounts for approximately 2.1% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 11th biggest position. Pinnacle West Asset Management Inc.’s holdings in Walmart were worth $2,923,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Coyle Financial Counsel LLC raised its position in Walmart by 3.1% in the 4th quarter. Coyle Financial Counsel LLC now owns 3,431 shares of the retailer’s stock worth $310,000 after buying an additional 102 shares during the last quarter. SC&H Financial Advisors Inc. raised its position in Walmart by 1.0% in the 4th quarter. SC&H Financial Advisors Inc. now owns 10,232 shares of the retailer’s stock worth $924,000 after buying an additional 103 shares during the last quarter. Blackston Financial Advisory Group LLC raised its position in Walmart by 0.7% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 15,685 shares of the retailer’s stock worth $1,417,000 after buying an additional 106 shares during the last quarter. Scarborough Advisors LLC grew its stake in shares of Walmart by 2.0% during the 4th quarter. Scarborough Advisors LLC now owns 5,584 shares of the retailer’s stock valued at $505,000 after purchasing an additional 109 shares during the period. Finally, Dakota Community Bank & Trust NA grew its stake in shares of Walmart by 4.0% during the 4th quarter. Dakota Community Bank & Trust NA now owns 2,879 shares of the retailer’s stock valued at $260,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Stock Performance

Shares of Walmart stock opened at $97.81 on Wednesday. The firm has a market cap of $785.78 billion, a P/E ratio of 40.59, a P/E/G ratio of 4.42 and a beta of 0.55. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. Walmart Inc. has a 12 month low of $58.18 and a 12 month high of $105.30. The stock’s fifty day moving average price is $95.65 and its 200-day moving average price is $87.10.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The firm had revenue of $180.55 billion for the quarter, compared to analyst estimates of $178.83 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. On average, equities research analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a $0.235 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.94 annualized dividend and a yield of 0.96%. Walmart’s dividend payout ratio (DPR) is presently 39.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Walmart from $93.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Oppenheimer boosted their price target on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Truist Financial boosted their price target on Walmart from $98.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. BMO Capital Markets boosted their price target on Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Robert W. Baird boosted their price target on Walmart from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $103.07.

Insider Buying and Selling at Walmart

In other Walmart news, EVP Daniel J. Bartlett sold 1,600 shares of Walmart stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $103.99, for a total value of $166,384.00. Following the transaction, the executive vice president now owns 423,597 shares in the company, valued at $44,049,852.03. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $92.47, for a total value of $277,410.00. Following the completion of the transaction, the executive vice president now owns 375,165 shares in the company, valued at $34,691,507.55. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,528 shares of company stock worth $13,849,185 over the last quarter. Insiders own 45.58% of the company’s stock.

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.