Lakeridge Wealth Management LLC Has $719,000 Stock Position in Walmart Inc. (NYSE:WMT)

Lakeridge Wealth Management LLC increased its stake in Walmart Inc. (NYSE:WMT) by 2.3% in the first quarter, Holdings Channel.com reports. The firm owned 8,187 shares of the retailer’s stock after purchasing an additional 187 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in Walmart were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dover Advisors LLC boosted its stake in Walmart by 48.8% in the 1st quarter. Dover Advisors LLC now owns 7,401 shares of the retailer’s stock worth $651,000 after purchasing an additional 2,427 shares during the period. Everpar Advisors LLC boosted its stake in Walmart by 0.7% in the 1st quarter. Everpar Advisors LLC now owns 20,141 shares of the retailer’s stock worth $1,768,000 after purchasing an additional 131 shares during the period. Hoey Investments Inc. boosted its stake in Walmart by 14.7% in the 1st quarter. Hoey Investments Inc. now owns 60,570 shares of the retailer’s stock worth $5,317,000 after purchasing an additional 7,741 shares during the period. Robbins Farley boosted its stake in Walmart by 34.4% in the 1st quarter. Robbins Farley now owns 62,083 shares of the retailer’s stock worth $5,450,000 after purchasing an additional 15,883 shares during the period. Finally, Matauro LLC acquired a new position in Walmart in the 1st quarter worth $1,788,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WMT. Citigroup reaffirmed a “buy” rating on shares of Walmart in a research note on Tuesday, May 6th. Truist Financial boosted their price target on shares of Walmart from $107.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Telsey Advisory Group reissued an “outperform” rating and set a $115.00 price target on shares of Walmart in a research report on Monday, June 9th. Barclays reissued an “overweight” rating on shares of Walmart in a research report on Friday, February 28th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Walmart in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Walmart has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Walmart Stock Performance

NYSE WMT opened at $94.20 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $751.76 billion, a price-to-earnings ratio of 39.09, a P/E/G ratio of 4.42 and a beta of 0.69. The firm’s 50 day simple moving average is $95.79 and its 200 day simple moving average is $94.06. Walmart Inc. has a 1 year low of $66.30 and a 1 year high of $105.30.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. As a group, research analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 12th were given a dividend of $0.235 per share. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio is 40.17%.

Insider Buying and Selling

In related news, EVP Kathryn J. Mclay sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $85.95, for a total value of $343,800.00. Following the completion of the transaction, the executive vice president now owns 888,309 shares of the company’s stock, valued at $76,350,158.55. This represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the completion of the transaction, the chief executive officer now directly owns 3,972,517 shares of the company’s stock, valued at approximately $340,166,630.71. The trade was a 0.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,534 shares of company stock worth $12,833,664. Corporate 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.