Shulman DeMeo Asset Management LLC Purchases 13,104 Shares of Walmart Inc. (NYSE:WMT)

Shulman DeMeo Asset Management LLC increased its holdings in shares of Walmart Inc. (NYSE:WMT) by 200.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,642 shares of the retailer’s stock after buying an additional 13,104 shares during the period. Walmart comprises approximately 0.3% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 26th largest position. Shulman DeMeo Asset Management LLC’s holdings in Walmart were worth $1,182,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WMT. Norges Bank acquired a new position in shares of Walmart in the 4th quarter valued at about $3,674,652,000. BlueSpruce Investments LP bought a new stake in Walmart in the 4th quarter worth about $568,419,000. International Assets Investment Management LLC boosted its stake in shares of Walmart by 15,371.4% in the 4th quarter. International Assets Investment Management LLC now owns 3,511,225 shares of the retailer’s stock worth $553,545,000 after buying an additional 3,488,530 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Walmart by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,235,920 shares of the retailer’s stock valued at $3,190,194,000 after acquiring an additional 2,150,351 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Walmart by 207.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,279,715 shares of the retailer’s stock valued at $137,170,000 after purchasing an additional 1,537,828 shares during the last quarter. 26.76% of the stock is owned by institutional investors.

Walmart Stock Performance

WMT opened at $67.96 on Friday. The company has a fifty day moving average of $63.74 and a 200 day moving average of $59.11. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $69.04. The stock has a market capitalization of $546.64 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 3.94 and a beta of 0.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.23 and a current ratio of 0.80.

Walmart (NYSE:WMT) last released its earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The firm had revenue of $161.50 billion during the quarter, compared to analyst estimates of $159.57 billion. During the same quarter last year, the business earned $0.49 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Walmart Inc. will post 2.42 earnings per share for the current fiscal year.

Insider Activity

In other Walmart news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $60.26, for a total value of $180,780.00. Following the completion of the transaction, the executive vice president now directly owns 524,613 shares in the company, valued at $31,613,179.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Timothy Patrick Flynn sold 30,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $64.82, for a total value of $1,944,600.00. Following the transaction, the director now directly owns 144,807 shares of the company’s stock, valued at $9,386,389.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $60.26, for a total value of $180,780.00. Following the transaction, the executive vice president now owns 524,613 shares of the company’s stock, valued at $31,613,179.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,451,722 shares of company stock worth $947,990,915. 45.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Telsey Advisory Group boosted their price target on shares of Walmart from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Truist Financial raised their price target on shares of Walmart from $60.00 to $64.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. KeyCorp upped their price objective on Walmart from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Raymond James raised their target price on Walmart from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Finally, Jefferies Financial Group upped their price target on Walmart from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Three analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.97.

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.