SouthState Corp Has $21.19 Million Stock Position in Walmart Inc. (NYSE:WMT)

SouthState Corp lowered its stake in Walmart Inc. (NYSE:WMT) by 1.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 262,441 shares of the retailer’s stock after selling 3,592 shares during the period. Walmart makes up 1.5% of SouthState Corp’s portfolio, making the stock its 19th largest holding. SouthState Corp’s holdings in Walmart were worth $21,192,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oxbow Advisors LLC grew its position in shares of Walmart by 45.0% during the 3rd quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock worth $2,298,000 after purchasing an additional 8,834 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Walmart by 21.9% in the 3rd 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 during the last quarter. Whalerock Point Partners LLC lifted its stake in Walmart by 213.5% in the 1st 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 during the last quarter. WFA Asset Management Corp lifted its stake in Walmart by 201.0% in the 1st 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. raised its stake in shares of Walmart by 14.9% during the third quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock valued at $503,517,000 after acquiring an additional 809,352 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Analyst Ratings Changes

WMT has been the subject of several analyst reports. TD Cowen raised their price target on shares of Walmart from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Evercore ISI raised their price target on shares of Walmart from $66.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday. Barclays raised 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. JPMorgan Chase & Co. increased their price objective on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, BMO Capital Markets raised their price target on shares of Walmart from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Walmart presently has a consensus rating of “Buy” and an average price target of $86.71.

Insider Activity

In related news, major shareholder Alice L. Walton sold 2,709,163 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the completion of the transaction, the insider now owns 630,501,148 shares of the company’s stock, valued at approximately $48,781,873,820.76. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the transaction, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,337,337 shares of company stock valued at $958,823,647 over the last quarter. Company insiders own 45.58% of the company’s stock.

Walmart Stock Performance

NYSE WMT opened at $84.09 on Tuesday. The company’s 50 day moving average is $81.43 and its 200-day moving average is $73.15. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $85.79. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm has a market cap of $675.94 billion, a P/E ratio of 43.80, a price-to-earnings-growth ratio of 4.20 and a beta of 0.51.

Walmart 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.