CMC Financial Group Invests $270,000 in Walmart Inc. (NYSE:WMT)

CMC Financial Group purchased a new position in shares of Walmart Inc. (NYSE:WMT) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 3,078 shares of the retailer’s stock, valued at approximately $270,000. Walmart makes up 0.6% of CMC Financial Group’s holdings, making the stock its 24th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of WMT. FPC Investment Advisory Inc. purchased a new position in shares of Walmart during the fourth quarter worth $25,000. Horizon Financial Services LLC boosted its holdings in Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after purchasing an additional 262 shares during the period. Noble Wealth Management PBC purchased a new position in Walmart in the fourth quarter valued at $37,000. Mizuho Bank Ltd. purchased a new position in Walmart in the fourth quarter valued at $41,000. Finally, Elevation Wealth Partners LLC boosted its holdings in Walmart by 40.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 525 shares of the retailer’s stock valued at $47,000 after purchasing an additional 150 shares during the period. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on WMT. Robert W. Baird lifted their target price on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Morgan Stanley reiterated an “overweight” rating and issued a $115.00 target price (up from $106.00) on shares of Walmart in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on Walmart from $97.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Telsey Advisory Group reissued an “outperform” rating on shares of Walmart in a research report on Wednesday, May 21st. Finally, Erste Group Bank downgraded shares of Walmart from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.16.

Walmart Stock Down 0.5%

WMT opened at $97.46 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The business’s 50-day simple moving average is $94.71 and its 200-day simple moving average is $93.84. Walmart Inc. has a one year low of $65.64 and a one year high of $105.30. The stock has a market capitalization of $779.77 billion, a P/E ratio of 40.44, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69.

Walmart (NYSE:WMT) last released its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The company had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th were given a dividend of $0.235 per share. This represents a yield of 0.95%. The ex-dividend date of this dividend was Friday, May 9th. Walmart’s payout ratio is 40.17%.

Insiders Place Their Bets

In other news, EVP John D. Rainey sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $99.00, for a total transaction of $217,800.00. Following the sale, the executive vice president now owns 630,518 shares of the company’s stock, valued at $62,421,282. The trade was a 0.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathryn J. Mclay sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $85.95, for a total value of $343,800.00. Following the sale, the executive vice president now directly owns 888,309 shares in the company, valued at $76,350,158.55. This trade represents a 0.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,534 shares of company stock worth $12,833,664. Company insiders own 45.58% of the company’s stock.

Walmart 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.