Summit Financial LLC Purchases 9,517 Shares of Walmart Inc. (NYSE:WMT)

Summit Financial LLC raised its holdings in Walmart Inc. (NYSE:WMT - Free Report) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,080 shares of the retailer's stock after purchasing an additional 9,517 shares during the period. Walmart makes up about 0.6% of Summit Financial LLC's portfolio, making the stock its 25th largest holding. Summit Financial LLC's holdings in Walmart were worth $17,481,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Walmart in the 4th quarter valued at approximately $25,000. Horizon Financial Services LLC grew its stake in shares of Walmart by 1,007.7% during the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock worth $26,000 after buying an additional 262 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Walmart during the fourth quarter worth $27,000. Decker Retirement Planning Inc. bought a new position in shares of Walmart in the 4th quarter valued at $32,000. Finally, Noble Wealth Management PBC bought a new stake in Walmart during the 4th quarter worth $37,000. 26.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WMT has been the subject of several recent research reports. Truist Financial upped their price target on shares of Walmart from $98.00 to $111.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Oppenheimer lifted their price objective on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Jefferies Financial Group increased their target price on shares of Walmart from $105.00 to $111.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upped their price target on shares of Walmart from $97.00 to $112.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Stifel Nicolaus lowered their price objective on Walmart from $99.00 to $93.00 and set a "hold" rating for the company in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $103.17.

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Walmart Price Performance

NYSE:WMT traded up $1.05 during trading hours on Wednesday, hitting $89.88. The stock had a trading volume of 18,727,664 shares, compared to its average volume of 17,003,922. The firm has a market capitalization of $720.55 billion, a price-to-earnings ratio of 37.29, a P/E/G ratio of 4.42 and a beta of 0.53. Walmart Inc. has a one year low of $58.56 and a one year high of $105.30. The company has a 50 day simple moving average of $94.45 and a two-hundred day simple moving average of $89.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23.

Walmart (NYSE:WMT - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The retailer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The company had revenue of $180.55 billion for the quarter, compared to analysts' expectations of $178.83 billion. Research analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 annualized dividend and a dividend yield of 1.05%. Walmart's dividend payout ratio (DPR) is presently 39.00%.

Insider Activity at Walmart

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $92.62, for a total value of $2,697,464.88. Following the sale, the chief executive officer now directly owns 3,766,491 shares of the company's stock, valued at $348,852,396.42. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John D. Rainey sold 38,000 shares of Walmart stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $98.80, for a total transaction of $3,754,400.00. Following the completion of the sale, the executive vice president now owns 257,281 shares in the company, valued at approximately $25,419,362.80. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,652 shares of company stock valued at $16,590,028. Corporate insiders own 45.58% of the company's stock.

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.