Summit Asset Management LLC Has $4.03 Million Stock Position in Walmart Inc. (NYSE:WMT)

Summit Asset Management LLC cut its position in Walmart Inc. (NYSE:WMT) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,857 shares of the retailer’s stock after selling 1,245 shares during the quarter. Walmart makes up about 0.8% of Summit Asset Management LLC’s holdings, making the stock its 22nd biggest position. Summit Asset Management LLC’s holdings in Walmart were worth $4,026,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of WMT. EntryPoint Capital LLC acquired a new position in shares of Walmart during the 1st quarter worth about $25,000. TruNorth Capital Management LLC boosted its position in shares of Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after acquiring an additional 249 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Walmart in the second quarter worth $29,000. FSA Wealth Management LLC increased its position in Walmart by 253.0% during the first quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock worth $32,000 after acquiring an additional 377 shares during the period. Finally, Kozak & Associates Inc. raised its stake in Walmart by 216.4% during the 1st quarter. Kozak & Associates Inc. now owns 503 shares of the retailer’s stock valued at $32,000 after purchasing an additional 344 shares during the last quarter. Institutional investors own 26.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on WMT shares. DA Davidson raised their price target on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. The Goldman Sachs Group upped their price target on Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 16th. Melius Research began coverage on Walmart in a report on Monday, September 23rd. They set a “buy” rating and a $95.00 price objective on the stock. Robert W. Baird boosted their price objective on Walmart from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, Bank of America raised their target price on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Walmart has an average rating of “Buy” and an average target price of $84.84.

Insider Transactions at Walmart

In other Walmart news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $82.96, for a total value of $1,088,850.00. Following the transaction, the executive vice president now owns 593,040 shares of the company’s stock, valued at approximately $49,198,598.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $82.96, for a total transaction of $1,088,850.00. Following the completion of the transaction, the executive vice president now directly owns 593,040 shares of the company’s stock, valued at $49,198,598.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the transaction, the insider now owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,337,337 shares of company stock worth $958,823,647. 45.58% of the stock is currently owned by company insiders.

Walmart Stock Up 0.6 %

NYSE:WMT opened at $85.54 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $85.79. The company has a market cap of $687.59 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 4.25 and a beta of 0.51. The stock’s fifty day moving average price is $80.82 and its two-hundred day moving average price is $72.44.

Walmart (NYSE:WMT) last issued 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 company had revenue of $169.30 billion during the quarter, compared to analysts’ expectations of $168.56 billion. During the same quarter in the previous year, the company earned $0.61 EPS. Walmart’s revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Walmart Inc. will post 2.44 EPS for the current year.

Walmart Company 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.