CIBC Asset Management Inc Buys 60,859 Shares of Walmart Inc. (NYSE:WMT)

CIBC Asset Management Inc grew its position in Walmart Inc. (NYSE:WMT - Free Report) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749,709 shares of the retailer's stock after purchasing an additional 60,859 shares during the period. CIBC Asset Management Inc's holdings in Walmart were worth $60,539,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Walmart by 199.4% in the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer's stock worth $24,774,717,000 after acquiring an additional 274,229,968 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Walmart by 181.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer's stock valued at $3,421,342,000 after purchasing an additional 36,625,314 shares during the period. Legal & General Group Plc lifted its position in Walmart by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer's stock valued at $2,456,704,000 after purchasing an additional 644,353 shares during the last quarter. Raymond James & Associates boosted its position in shares of Walmart by 3.0% during the third quarter. Raymond James & Associates now owns 16,766,325 shares of the retailer's stock worth $1,353,881,000 after buying an additional 484,196 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Walmart by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,184,945 shares of the retailer's stock valued at $1,095,946,000 after buying an additional 834,005 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on WMT shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Walmart from $77.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Tigress Financial raised their target price on shares of Walmart from $75.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $83.00 price target (up previously from $81.00) on shares of Walmart in a report on Friday, August 16th. Sanford C. Bernstein began coverage on Walmart in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $95.00 target price on the stock. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $92.00 price target on shares of Walmart in a research note on Wednesday. One analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $85.18.

Insider Buying and Selling

In related news, major shareholder Alice L. Walton sold 2,375,563 shares of Walmart stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the completion of the sale, the insider now directly owns 619,646,544 shares of the company's stock, valued at approximately $47,687,998,026.24. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder S Robson Walton sold 4,057,369 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares of the company's stock, valued at approximately $47,245,498,149.60. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,337,337 shares of company stock worth $958,823,647. 45.58% of the stock is owned by insiders.

Walmart Trading Down 0.3 %

WMT traded down $0.29 during mid-day trading on Friday, reaching $84.18. The stock had a trading volume of 8,350,207 shares, compared to its average volume of 16,671,049. The firm's fifty day simple moving average is $81.14 and its two-hundred day simple moving average is $72.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. The stock has a market capitalization of $676.66 billion, a P/E ratio of 44.03, a P/E/G ratio of 4.27 and a beta of 0.51. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $85.79.

Walmart (NYSE:WMT - Get Free Report) last posted its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same period last year, the business posted $0.61 earnings per share. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Walmart Inc. will post 2.44 EPS for the current year.

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.