Napa Wealth Management Invests $2.31 Million in Walmart Inc. (NYSE:WMT)

Napa Wealth Management acquired a new stake in Walmart Inc. (NYSE:WMT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,569 shares of the retailer’s stock, valued at approximately $2,307,000. Walmart comprises approximately 1.1% of Napa Wealth Management’s investment portfolio, making the stock its 17th biggest holding.

A number of other large investors have also modified their holdings of WMT. Oxbow Advisors LLC raised its holdings in Walmart by 45.0% in the 3rd quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock valued at $2,298,000 after acquiring an additional 8,834 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Walmart by 21.9% in the third quarter. Crossmark Global Holdings Inc. now owns 587,001 shares of the retailer’s stock valued at $47,400,000 after purchasing an additional 105,430 shares in the last quarter. Whalerock Point Partners LLC grew its position in shares of Walmart by 213.5% in the first quarter. Whalerock Point Partners LLC now owns 29,613 shares of the retailer’s stock valued at $1,782,000 after purchasing an additional 20,167 shares in the last quarter. WFA Asset Management Corp increased its holdings in shares of Walmart by 201.0% in the first quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after purchasing an additional 1,397 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Walmart by 14.9% during the third quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock worth $503,517,000 after buying an additional 809,352 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Stock Performance

Shares of WMT opened at $84.70 on Monday. The stock has a 50-day simple moving average of $81.29 and a 200-day simple moving average of $72.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. Walmart Inc. has a 1 year low of $49.85 and a 1 year high of $85.79. The stock has a market capitalization of $680.84 billion, a PE ratio of 43.80, a PEG ratio of 4.20 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. Walmart’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. On average, analysts predict that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Transactions at Walmart

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $77.48, for a total value of $232,440.00. Following the completion of the sale, the executive vice president now directly owns 384,165 shares of the company’s stock, valued at $29,765,104.20. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel J. Bartlett sold 2,063 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.76, for a total transaction of $166,607.88. Following the completion of the transaction, the executive vice president now owns 459,558 shares of the company’s stock, valued at $37,113,904.08. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. Corporate insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. DA Davidson raised their target price on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Sanford C. Bernstein started coverage on shares of Walmart in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $95.00 price objective for the company. Citigroup lifted their target price on shares of Walmart from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays increased their price target on shares of Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up previously from $81.00) on shares of Walmart in a research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Walmart currently has an average rating of “Buy” and an average price target of $85.18.

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.