Kerntke Otto McGlone Wealth Management Group Increases Holdings in Walmart Inc. (NYSE:WMT)

Posted by on Jun 15th, 2023

Kerntke Otto McGlone Wealth Management Group boosted its stake in Walmart Inc. (NYSE:WMT – Get Rating) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,861 shares of the retailer’s stock after purchasing an additional 300 shares during the period. Kerntke Otto McGlone Wealth Management Group’s holdings in Walmart were worth $406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in Walmart by 112,181.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 22,854,919 shares of the retailer’s stock worth $3,240,599,000 after acquiring an additional 22,834,564 shares during the period. Norges Bank purchased a new position in shares of Walmart in the fourth quarter valued at $2,598,736,000. BlackRock Inc. grew its holdings in Walmart by 2.9% during the 3rd quarter. BlackRock Inc. now owns 96,570,711 shares of the retailer’s stock valued at $12,525,224,000 after purchasing an additional 2,712,886 shares in the last quarter. Morgan Stanley increased its stake in Walmart by 9.4% during the 4th quarter. Morgan Stanley now owns 22,382,688 shares of the retailer’s stock worth $3,173,642,000 after buying an additional 1,923,199 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Walmart by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 130,176,496 shares of the retailer’s stock worth $16,883,890,000 after buying an additional 1,832,388 shares in the last quarter. Institutional investors and hedge funds own 31.27% of the company’s stock.

Walmart Trading Up 1.0 %

Shares of WMT stock opened at $156.91 on Thursday. Walmart Inc. has a 1 year low of $117.90 and a 1 year high of $157.33. The firm has a market capitalization of $422.53 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 4.55 and a beta of 0.49. The stock has a fifty day moving average of $150.51 and a two-hundred day moving average of $146.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.23 and a current ratio of 0.82.

Walmart (NYSE:WMT – Get Rating) last posted its quarterly earnings data on Thursday, May 18th. The retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.15. The business had revenue of $152.30 billion during the quarter, compared to the consensus estimate of $147.91 billion. Walmart had a net margin of 1.82% and a return on equity of 21.30%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 earnings per share. As a group, research analysts expect that Walmart Inc. will post 6.21 EPS for the current year.

Wall Street Analysts Forecast Growth

WMT has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on Walmart from $165.00 to $170.00 in a research report on Friday, May 19th. Truist Financial upped their target price on Walmart from $160.00 to $166.00 in a research report on Friday, May 19th. Gordon Haskett raised shares of Walmart from an “accumulate” rating to a “buy” rating and raised their price target for the stock from $155.00 to $165.00 in a research report on Wednesday, April 19th. Citigroup upped their price target on shares of Walmart from $169.00 to $174.00 in a report on Friday, May 19th. Finally, Wells Fargo & Company raised their price objective on shares of Walmart from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 6th. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.91.

Insider Activity at Walmart

In other Walmart news, major shareholder Alice L. Walton sold 478,764 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $140.71, for a total value of $67,366,882.44. Following the completion of the sale, the insider now directly owns 254,748,003 shares in the company, valued at $35,845,591,502.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director S Robson Walton sold 170,587 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $150.12, for a total transaction of $25,608,520.44. Following the completion of the sale, the director now directly owns 244,364,516 shares in the company, valued at $36,684,001,141.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alice L. Walton sold 478,764 shares of Walmart stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $140.71, for a total transaction of $67,366,882.44. Following the completion of the transaction, the insider now owns 254,748,003 shares in the company, valued at approximately $35,845,591,502.13. The disclosure for this sale can be found here. Insiders have sold 12,945,443 shares of company stock worth $1,859,668,300 over the last quarter. 46.51% of the stock is currently owned by company insiders.

Walmart Profile

(Get Rating)

Walmart, Inc engages in retail and wholesale business. The company offers an assortment of merchandise and services at everyday low prices. It operates through the following business segments: Walmart U.S., Walmart International, and Sam’s Club. The Walmart U.S. segment operates as a merchandiser of consumer products, operating under the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as walmart.com and other eCommerce brands.

Further Reading

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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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