Riverbend Wealth Management LLC Invests $1.09 Million in Walmart Inc. (NYSE:WMT)

Riverbend Wealth Management LLC acquired a new position in shares of Walmart Inc. (NYSE:WMT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,050 shares of the retailer’s stock, valued at approximately $1,091,000. Walmart comprises about 1.0% of Riverbend Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Walmart in the fourth quarter worth $25,000. Peterson Financial Group Inc. bought a new stake in Walmart in the 3rd quarter valued at $26,000. Fiduciary Advisors Inc. acquired a new stake in Walmart in the 4th quarter worth $27,000. Decker Retirement Planning Inc. bought a new position in shares of Walmart during the 4th quarter worth about $32,000. Finally, Noble Wealth Management PBC bought a new position in Walmart during the fourth quarter valued at about $37,000. Institutional investors own 26.76% of the company’s stock.

Insider Activity

In other Walmart news, EVP John R. Furner sold 13,125 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $96.15, for a total value of $1,261,968.75. Following the completion of the transaction, the executive vice president now directly owns 460,672 shares of the company’s stock, valued at approximately $44,293,612.80. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was 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 in the company, valued at approximately $349,609,579.70. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,777 shares of company stock valued at $17,657,316 in the last ninety days. 45.58% of the stock is owned by insiders.

Walmart Trading Down 4.5 %

Shares of NYSE WMT opened at $87.57 on Tuesday. Walmart Inc. has a fifty-two week low of $58.56 and a fifty-two week high of $105.30. The firm has a market capitalization of $703.46 billion, a P/E ratio of 36.34, a P/E/G ratio of 4.42 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23. The company’s 50 day simple moving average is $96.13 and its 200 day simple moving average is $88.53.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The company had revenue of $180.55 billion for the quarter, compared to the consensus estimate of $178.83 billion. On average, analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 annualized dividend and a dividend yield of 1.07%. Walmart’s payout ratio is currently 39.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Walmart from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Barclays reiterated an “overweight” rating on shares of Walmart in a research report on Friday, February 28th. Telsey Advisory Group reissued an “outperform” rating on shares of Walmart in a research report on Friday, February 28th. TD Cowen raised their price target on shares of Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Roth Mkm reiterated a “buy” rating and issued a $108.00 price objective (up from $97.00) on shares of Walmart in a research note on Friday, February 21st. One equities 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $103.07.

Walmart Company Profile

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.