C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys 38,898 Shares of Walmart Inc. (NYSE:WMT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in shares of Walmart Inc. (NYSE:WMT) by 137.3% in the fourth quarter, Holdings Channel reports. The firm owned 67,222 shares of the retailer’s stock after acquiring an additional 38,898 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Walmart were worth $6,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Walmart by 479.6% during the 3rd quarter. Jennison Associates LLC now owns 18,479,259 shares of the retailer’s stock valued at $1,492,200,000 after purchasing an additional 15,290,936 shares during the period. FMR LLC lifted its holdings in shares of Walmart by 12.9% during the third quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock worth $5,098,203,000 after buying an additional 7,200,004 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Walmart by 8,814.4% in the third quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock valued at $562,280,000 after acquiring an additional 6,885,106 shares during the period. Geode Capital Management LLC grew its stake in shares of Walmart by 3.3% in the third quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock worth $7,048,465,000 after acquiring an additional 2,786,061 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Walmart by 4.6% during the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock worth $3,848,533,000 after acquiring an additional 2,107,197 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Stock Performance

Shares of Walmart stock opened at $105.10 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.23. The firm has a 50 day simple moving average of $94.63 and a 200 day simple moving average of $84.95. Walmart Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $105.24. The firm has a market cap of $844.29 billion, a P/E ratio of 43.13, a P/E/G ratio of 4.25 and a beta of 0.55.

Walmart (NYSE:WMT) last released its earnings results on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The company had revenue of $169.59 billion during the quarter, compared to analysts’ expectations of $167.69 billion. During the same period last year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts predict that Walmart Inc. will post 2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.44, for a total value of $2,663,098.56. Following the transaction, the chief executive officer now directly owns 3,814,805 shares of the company’s stock, valued at approximately $348,825,769.20. This trade represents a 0.76 % 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. Also, EVP Daniel J. Bartlett sold 1,830 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.07, for a total transaction of $166,658.10. Following the sale, the executive vice president now owns 460,705 shares of the company’s stock, valued at $41,956,404.35. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 175,177 shares of company stock valued at $16,403,728. 45.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WMT has been the subject of a number of research reports. Guggenheim increased their price target on shares of Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Roth Mkm increased their target price on shares of Walmart from $81.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Truist Financial boosted their price target on Walmart from $98.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler raised their price objective on Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Walmart from $97.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday. Two analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.85.

About Walmart

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.