Cannon Financial Strategists Inc. Purchases Shares of 6,570 Walmart Inc. (NYSE:WMT)

Cannon Financial Strategists Inc. purchased a new stake in Walmart Inc. (NYSE:WMT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 6,570 shares of the retailer’s stock, valued at approximately $445,000.

A number of other large investors also recently bought and sold shares of the stock. Able Wealth Management LLC purchased a new position in shares of Walmart during the 4th quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Walmart during the 4th quarter valued at approximately $32,000. Frank Rimerman Advisors LLC purchased a new position in shares of Walmart during the 4th quarter valued at approximately $48,000. EntryPoint Capital LLC purchased a new position in shares of Walmart during the 1st quarter valued at approximately $25,000. Finally, TruNorth Capital Management LLC lifted its position in shares of Walmart by 138.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after buying an additional 249 shares in the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.

Walmart Stock Up 0.6 %

Shares of NYSE:WMT opened at $81.27 on Wednesday. The business has a 50-day moving average price of $74.86 and a 200 day moving average price of $67.85. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $653.27 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 4.00 and a beta of 0.51. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $81.60.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. Sell-side analysts expect that Walmart Inc. will post 2.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on Walmart from $75.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and increased their target price for the company from $76.00 to $89.00 in a research report on Tuesday, September 24th. Tigress Financial increased their target price on Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Evercore ISI raised their price objective on Walmart from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, StockNews.com upgraded Walmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart has an average rating of “Buy” and an average target price of $81.62.

Insider Buying and Selling at Walmart

In other Walmart news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $81.04, for a total value of $1,063,650.00. Following the completion of the transaction, the executive vice president now directly owns 606,165 shares of the company’s stock, valued at approximately $49,123,611.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.61, for a total value of $2,056,445.64. Following the completion of the transaction, the chief executive officer now directly owns 3,931,301 shares of the company’s stock, valued at approximately $277,589,163.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $81.04, for a total value of $1,063,650.00. Following the completion of the transaction, the executive vice president now owns 606,165 shares of the company’s stock, valued at approximately $49,123,611.60. The disclosure for this sale can be found here. Insiders sold a total of 12,334,670 shares of company stock valued at $958,025,027 in the last three months. 45.58% of the stock is owned by corporate insiders.

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.