Pitti Group Wealth Management LLC Invests $290,000 in Walmart Inc. (NYSE:WMT)

Pitti Group Wealth Management LLC purchased a new stake in Walmart Inc. (NYSE:WMT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 3,208 shares of the retailer’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Coyle Financial Counsel LLC boosted its holdings in Walmart by 3.1% in the fourth quarter. Coyle Financial Counsel LLC now owns 3,431 shares of the retailer’s stock valued at $310,000 after purchasing an additional 102 shares during the last quarter. SC&H Financial Advisors Inc. boosted its holdings in Walmart by 1.0% in the fourth quarter. SC&H Financial Advisors Inc. now owns 10,232 shares of the retailer’s stock valued at $924,000 after purchasing an additional 103 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its holdings in Walmart by 0.7% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 15,685 shares of the retailer’s stock valued at $1,417,000 after purchasing an additional 106 shares during the last quarter. Van Strum & Towne Inc. boosted its holdings in Walmart by 1.6% in the fourth quarter. Van Strum & Towne Inc. now owns 6,849 shares of the retailer’s stock valued at $619,000 after purchasing an additional 108 shares during the last quarter. Finally, Scarborough Advisors LLC boosted its holdings in Walmart by 2.0% in the fourth quarter. Scarborough Advisors LLC now owns 5,584 shares of the retailer’s stock valued at $505,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Tigress Financial lifted their target price on Walmart from $86.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley reiterated an “overweight” rating and issued a $115.00 target price (up previously from $106.00) on shares of Walmart in a research report on Thursday, February 13th. DZ Bank upgraded Walmart from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, February 25th. Truist Financial lifted their target price on Walmart from $98.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, StockNews.com lowered Walmart from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $103.20.

Insider Activity

In related news, EVP John D. Rainey sold 38,000 shares of Walmart stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, valued at approximately $25,419,362.80. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $92.35, for a total value of $2,689,601.40. Following the sale, the chief executive officer now directly owns 3,785,702 shares of the company’s stock, valued at approximately $349,609,579.70. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,777 shares of company stock worth $17,657,316. 45.58% of the stock is owned by corporate insiders.

Walmart Stock Performance

Shares of NYSE WMT opened at $85.29 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $685.19 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 4.42 and a beta of 0.53. The stock’s fifty day simple moving average is $95.74 and its 200 day simple moving average is $88.80. Walmart Inc. has a 52-week low of $58.56 and a 52-week high of $105.30.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $180.55 billion for the quarter, compared to analysts’ expectations of $178.83 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. As a group, sell-side analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.10%. Walmart’s dividend payout ratio is 39.00%.

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.