Interval Partners LP Acquires New Position in Walmart Inc. (NYSE:WMT)

Interval Partners LP bought a new position in shares of Walmart Inc. (NYSE:WMT) during the 2nd quarter, Holdings Channel reports. The firm bought 363,696 shares of the retailer’s stock, valued at approximately $24,626,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WMT. Vanguard Group Inc. grew its holdings in shares of Walmart by 199.4% in the 1st quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock worth $24,774,717,000 after acquiring an additional 274,229,968 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Walmart by 181.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after purchasing an additional 36,625,314 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Walmart by 183.0% in the first quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock valued at $1,755,339,000 after purchasing an additional 18,865,484 shares during the last quarter. Swiss National Bank increased its position in shares of Walmart by 187.4% in the first quarter. Swiss National Bank now owns 13,303,200 shares of the retailer’s stock valued at $800,454,000 after buying an additional 8,674,100 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Walmart by 284.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock worth $669,227,000 after buying an additional 8,225,552 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $68.39, for a total value of $1,991,790.36. Following the completion of the transaction, the chief executive officer now owns 3,960,402 shares in the company, valued at approximately $270,851,892.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP David Chojnowski sold 8,791 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $68.00, for a total transaction of $597,788.00. Following the completion of the sale, the senior vice president now directly owns 94,415 shares of the company’s stock, valued at approximately $6,420,220. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the completion of the transaction, the chief executive officer now owns 3,960,402 shares in the company, valued at approximately $270,851,892.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,369,039 shares of company stock worth $959,826,083. 45.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WMT has been the subject of several recent research reports. Evercore ISI raised their target price on shares of Walmart from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. TD Cowen lifted their price objective on Walmart from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Morgan Stanley increased their target price on Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Royal Bank of Canada boosted their price target on Walmart from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up previously from $81.00) on shares of Walmart in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.99.

Walmart Price Performance

Walmart stock opened at $79.06 on Monday. The firm has a fifty day moving average of $73.44 and a 200-day moving average of $66.87. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $81.02. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $635.92 billion, a P/E ratio of 33.79, a PEG ratio of 4.03 and a beta of 0.51.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $169.30 billion during the quarter, compared to the consensus estimate of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. As a group, analysts predict that Walmart Inc. will post 2.44 EPS for the current year.

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.