Hanson & Doremus Investment Management grew its holdings in shares of Walmart Inc. (NASDAQ:WMT – Free Report) by 80.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,114 shares of the retailer’s stock after acquiring an additional 10,330 shares during the period. Hanson & Doremus Investment Management’s holdings in Walmart were worth $2,873,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Renaissance Group LLC increased its holdings in Walmart by 0.9% in the fourth quarter. Renaissance Group LLC now owns 9,636 shares of the retailer’s stock valued at $1,074,000 after purchasing an additional 83 shares during the period. Calton & Associates Inc. lifted its holdings in Walmart by 0.3% during the 4th quarter. Calton & Associates Inc. now owns 27,220 shares of the retailer’s stock worth $3,033,000 after buying an additional 84 shares during the period. Advocacy Wealth Management LLC grew its position in shares of Walmart by 2.5% in the 4th quarter. Advocacy Wealth Management LLC now owns 3,392 shares of the retailer’s stock valued at $378,000 after buying an additional 84 shares during the last quarter. Stockman Wealth Management Inc. grew its position in shares of Walmart by 3.5% in the 4th quarter. Stockman Wealth Management Inc. now owns 2,561 shares of the retailer’s stock valued at $285,000 after buying an additional 87 shares during the last quarter. Finally, Capstone Wealth Management LLC increased its stake in shares of Walmart by 1.8% in the fourth quarter. Capstone Wealth Management LLC now owns 4,955 shares of the retailer’s stock valued at $552,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.
Walmart Stock Up 1.9%
Shares of Walmart stock opened at $119.42 on Wednesday. The stock’s 50-day moving average is $124.22 and its 200 day moving average is $122.18. Walmart Inc. has a one year low of $94.23 and a one year high of $135.15. The firm has a market cap of $950.35 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 4.37 and a beta of 0.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.77 and a quick ratio of 0.23.
Key Headlines Impacting Walmart
Here are the key news stories impacting Walmart this week:
- Positive Sentiment: Walmart’s long-term nuclear power deal with Constellation Energy supports its sustainability strategy and may improve power-cost stability for operations. Article Title
- Positive Sentiment: Walmart’s planned acquisition of Vibe.co could expand its connected-TV advertising reach and boost higher-margin ad revenue. Article Title
- Positive Sentiment: Walmart’s Medicare support push and new weight-management coverage guidance may strengthen pharmacy traffic and customer loyalty. Article Title
- Positive Sentiment: Walmart will sell Life Extension supplements in 4,000+ stores, adding another health-and-wellness product line. Article Title
- Neutral Sentiment: An executive sold 2,900 shares under a pre-arranged trading plan; the sale appears routine and small relative to the executive’s holdings. Article Title
- Negative Sentiment: Walmart faces a proposed lawsuit alleging AI-driven gas-price inflation in California, which could create legal and reputational risk. Article Title
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating on shares of Walmart in a research note on Monday, June 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of Walmart in a research report on Monday, June 8th. Craig Hallum set a $150.00 price target on shares of Walmart in a report on Friday, March 6th. Wolfe Research restated an “outperform” rating and issued a $137.00 price target (up from $135.00) on shares of Walmart in a research report on Monday, May 11th. Finally, Morgan Stanley upped their price objective on shares of Walmart from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Walmart has an average rating of “Moderate Buy” and a consensus price target of $138.85.
Insider Activity at Walmart
In related news, EVP Christopher James Nicholas sold 2,900 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $118.19, for a total transaction of $342,751.00. Following the transaction, the executive vice president directly owned 574,953 shares of the company’s stock, valued at $67,953,695.07. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Latriece Watkins sold 11,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $118.97, for a total transaction of $1,308,670.00. Following the completion of the sale, the executive vice president owned 120,203 shares of the company’s stock, valued at $14,300,550.91. The trade was a 8.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 120,146 shares of company stock worth $14,835,898. Corporate insiders own 0.09% of the company’s stock.
About Walmart
Walmart is a multinational retail corporation that operates a broad portfolio of store formats and digital services. Its core business includes large-format supercenters, discount department stores, neighborhood grocery stores and a membership warehouse chain, Sam’s Club. The company’s merchandising mix covers groceries, household goods, apparel, electronics and pharmacy services, supplemented by private-label products and category-specific offerings. Walmart pairs its physical store network with online platforms and mobile applications to provide omnichannel shopping, fulfillment and delivery options for consumers and businesses.
The company was founded by Sam Walton, who opened the first store in Rogers, Arkansas in 1962; it is headquartered in Bentonville, Arkansas.
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