Spectrum Asset Management Inc. NB CA Takes Position in Walmart Inc (WMT)

Spectrum Asset Management Inc. NB CA acquired a new stake in Walmart Inc (NYSE:WMT) in the 3rd quarter, HoldingsChannel reports. The fund acquired 12,150 shares of the retailer’s stock, valued at approximately $1,141,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. acquired a new position in Walmart in the second quarter valued at $111,000. ELM Advisors LLC acquired a new position in Walmart in the third quarter valued at $152,000. MinichMacGregor Wealth Management LLC boosted its stake in Walmart by 56.0% in the third quarter. MinichMacGregor Wealth Management LLC now owns 1,753 shares of the retailer’s stock valued at $165,000 after acquiring an additional 629 shares in the last quarter. Amussen Hunsaker Associates LLC acquired a new position in Walmart in the second quarter valued at $152,000. Finally, Moody Aldrich Partners LLC acquired a new position in Walmart in the second quarter valued at $161,279,000. Institutional investors own 29.36% of the company’s stock.

Several equities analysts have issued reports on the stock. Cowen upped their price objective on shares of Walmart from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday. Credit Suisse Group set a $85.00 price objective on shares of Walmart and gave the company a “neutral” rating in a research note on Thursday, August 16th. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of Walmart in a research note on Thursday, August 16th. Wells Fargo & Co restated a “neutral” rating and issued a $95.00 price objective on shares of Walmart in a research note on Thursday, August 16th. Finally, ValuEngine upgraded shares of Walmart from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Eighteen analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $103.16.

In related news, major shareholder Jim C. Walton sold 2,009,792 shares of the stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $94.63, for a total transaction of $190,186,616.96. Following the completion of the transaction, the insider now directly owns 10,557,224 shares of the company’s stock, valued at $999,030,107.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 594,396 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $98.28, for a total transaction of $58,417,238.88. Following the transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $663,250,442.40. The disclosure for this sale can be found here. Insiders have sold 10,199,130 shares of company stock valued at $976,228,654 over the last three months. 51.11% of the stock is currently owned by corporate insiders.

Shares of WMT opened at $100.28 on Thursday. Walmart Inc has a fifty-two week low of $81.78 and a fifty-two week high of $109.98. The stock has a market cap of $303.41 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 4.23 and a beta of 0.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.93 and a quick ratio of 0.34.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 16th. The retailer reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.07. The firm had revenue of $127.06 billion during the quarter, compared to analysts’ expectations of $124.67 billion. Walmart had a net margin of 1.02% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. On average, sell-side analysts anticipate that Walmart Inc will post 4.77 EPS for the current year.

Walmart Company Profile

Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.

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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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