Sitrin Capital Management LLC Acquires 312 Shares of Walmart Inc. (NYSE:WMT)

Sitrin Capital Management LLC increased its holdings in shares of Walmart Inc. (NYSE:WMT) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,598 shares of the retailer’s stock after purchasing an additional 312 shares during the quarter. Walmart accounts for approximately 4.1% of Sitrin Capital Management LLC’s portfolio, making the stock its 5th biggest position. Sitrin Capital Management LLC’s holdings in Walmart were worth $7,624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Walmart by 199.4% in the 1st quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after acquiring an additional 274,229,968 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $3,421,342,000 after buying an additional 36,625,314 shares during the period. Norges Bank acquired a new stake in Walmart during the 4th quarter worth approximately $3,674,652,000. Bank of New York Mellon Corp lifted its holdings in Walmart by 183.0% during the 1st quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock worth $1,755,339,000 after buying an additional 18,865,484 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Walmart by 212.6% in the first quarter. Raymond James & Associates now owns 14,035,473 shares of the retailer’s stock worth $844,514,000 after acquiring an additional 9,544,958 shares in the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the completion of the transaction, the executive vice president now owns 387,165 shares in the company, valued at $26,787,946.35. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.61, for a total value of $2,056,445.64. Following the sale, the chief executive officer now directly owns 3,931,301 shares in the company, valued at $277,589,163.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the sale, the executive vice president now owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,540,863 shares of company stock worth $954,455,147. 45.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stifel Nicolaus increased their price objective on Walmart from $69.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, July 2nd. Truist Financial lifted their price objective on Walmart from $60.00 to $64.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Morgan Stanley upped their target price on shares of Walmart from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Oppenheimer raised their target price on shares of Walmart from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Finally, Citigroup boosted their price target on shares of Walmart from $63.33 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.09.

Walmart Price Performance

Shares of NYSE:WMT traded up $0.29 on Friday, reaching $67.95. 13,805,576 shares of the company were exchanged, compared to its average volume of 17,333,506. The company has a current ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $71.33. The company has a 50-day moving average of $68.47 and a 200-day moving average of $62.82. The firm has a market cap of $546.56 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 3.90 and a beta of 0.50.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. Equities analysts forecast that Walmart Inc. will post 2.43 earnings per share for the current fiscal year.

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.