RFP Financial Group LLC Buys 23,622 Shares of Walmart Inc. (NYSE:WMT)

RFP Financial Group LLC grew its stake in Walmart Inc. (NYSE:WMT) by 69.9% in the third quarter, HoldingsChannel.com reports. The fund owned 57,402 shares of the retailer’s stock after acquiring an additional 23,622 shares during the period. Walmart makes up 1.5% of RFP Financial Group LLC’s investment portfolio, making the stock its 17th largest position. RFP Financial Group LLC’s holdings in Walmart were worth $4,630,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Home Federal Bank of Tennessee raised its stake in Walmart by 1.6% during the 3rd quarter. Home Federal Bank of Tennessee now owns 27,647 shares of the retailer’s stock worth $2,232,000 after buying an additional 448 shares during the period. Fortis Group Advisors LLC increased its holdings in shares of Walmart by 322.9% in the third quarter. Fortis Group Advisors LLC now owns 31,721 shares of the retailer’s stock worth $2,561,000 after acquiring an additional 24,220 shares in the last quarter. Sweeney & Michel LLC increased its holdings in shares of Walmart by 4.5% in the third quarter. Sweeney & Michel LLC now owns 7,472 shares of the retailer’s stock worth $608,000 after acquiring an additional 324 shares in the last quarter. Calton & Associates Inc. raised its position in shares of Walmart by 276.1% during the third quarter. Calton & Associates Inc. now owns 18,216 shares of the retailer’s stock worth $1,471,000 after purchasing an additional 13,372 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Walmart by 18.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 68,449 shares of the retailer’s stock valued at $5,527,000 after purchasing an additional 10,869 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Price Performance

Shares of NYSE:WMT traded up $0.60 during trading on Tuesday, reaching $81.41. 1,942,482 shares of the company traded hands, compared to its average volume of 17,023,449. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $81.82. The firm has a market capitalization of $654.82 billion, a PE ratio of 34.53, a PEG ratio of 4.07 and a beta of 0.51. The company’s 50 day moving average is $78.14 and its two-hundred day moving average is $69.83.

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

Insider Buying and Selling at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’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 owns 3,931,301 shares of the company’s stock, valued at approximately $277,589,163.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Walmart news, EVP John D. Rainey sold 3,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 387,165 shares in the company, valued at approximately $26,787,946.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction dated Thursday, July 25th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,337,337 shares of company stock worth $958,267,901 over the last three months. Corporate insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial upgraded shares of Walmart from a “hold” rating to a “buy” rating and raised their target price for the stock from $76.00 to $89.00 in a report on Tuesday, September 24th. Tigress Financial boosted their price target on Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Guggenheim increased their price objective on Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Walmart from $77.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 target price (up previously from $81.00) on shares of Walmart in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $83.34.

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.