Fred Alger Management LLC Increases Stock Position in Walmart Inc. (NYSE:WMT)

Fred Alger Management LLC boosted its position in shares of Walmart Inc. (NYSE:WMT) by 0.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 327,501 shares of the retailer’s stock after acquiring an additional 697 shares during the period. Fred Alger Management LLC’s holdings in Walmart were worth $29,658,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. World Investment Advisors grew its stake in shares of Walmart by 7.6% in the 4th quarter. World Investment Advisors now owns 271,515 shares of the retailer’s stock worth $24,532,000 after buying an additional 19,233 shares in the last quarter. Candriam S.C.A. raised its position in Walmart by 209.7% during the fourth quarter. Candriam S.C.A. now owns 885,008 shares of the retailer’s stock valued at $79,960,000 after purchasing an additional 599,257 shares during the period. Modera Wealth Management LLC lifted its stake in shares of Walmart by 4.8% in the 4th quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer’s stock valued at $18,355,000 after purchasing an additional 9,292 shares during the last quarter. Cushing Capital Partners LLC purchased a new position in shares of Walmart in the 4th quarter worth approximately $1,124,000. Finally, Campbell Wealth Management bought a new position in shares of Walmart during the 4th quarter valued at approximately $359,000. Institutional investors own 26.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. KeyCorp boosted their price objective on shares of Walmart from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Truist Financial decreased their price objective on shares of Walmart from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays reiterated an “overweight” rating on shares of Walmart in a report on Friday, February 28th. Oppenheimer upped their price objective on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Evercore ISI decreased their target price on Walmart from $107.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.94.

Walmart Stock Performance

Shares of WMT stock opened at $98.76 on Thursday. The business has a 50-day simple moving average of $90.62 and a 200-day simple moving average of $91.70. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. The stock has a market cap of $790.13 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 4.42 and a beta of 0.70. Walmart Inc. has a 52-week low of $59.44 and a 52-week high of $105.30.

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

Walmart Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th will be issued a $0.235 dividend. This represents a yield of 0.95%. The ex-dividend date is Friday, May 9th. Walmart’s payout ratio is currently 39.00%.

Insider Activity

In other news, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $97.37, for a total value of $214,214.00. Following the transaction, the executive vice president now owns 632,718 shares in the company, valued at $61,607,751.66. This trade represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $96.95, for a total value of $2,823,571.80. Following the completion of the transaction, the chief executive officer now owns 3,558,247 shares in the company, valued at $344,972,046.65. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,857 shares of company stock worth $12,444,743 over the last three months. 45.58% of the stock is currently owned by corporate insiders.

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.