Resona Asset Management Co. Ltd. Invests $129.99 Million in Walmart Inc. (NYSE:WMT)

Resona Asset Management Co. Ltd. purchased a new stake in 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 firm purchased 1,435,868 shares of the retailer’s stock, valued at approximately $129,992,000. Walmart accounts for about 0.8% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position 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 buying an additional 809,352 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Walmart by 3.8% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 4,144 shares of the retailer’s stock worth $335,000 after acquiring an additional 150 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in shares of Walmart in the 3rd quarter worth $46,979,000. Weaver Consulting Group raised its holdings in shares of Walmart by 3.2% in the third quarter. Weaver Consulting Group now owns 9,588 shares of the retailer’s stock valued at $774,000 after purchasing an additional 301 shares during the last quarter. Finally, Voya Financial Advisors Inc. purchased a new position in Walmart during the third quarter worth about $217,000. Institutional investors own 26.76% of the company’s stock.

Analyst Upgrades and Downgrades

WMT has been the subject of several analyst reports. Barclays reissued an “overweight” rating on shares of Walmart in a research report on Friday, February 28th. Truist Financial lifted their price target on Walmart from $98.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Piper Sandler upped their price objective on Walmart from $93.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Jefferies Financial Group raised their target price on Walmart from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus cut their price target on shares of Walmart from $99.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Walmart currently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Insider Transactions at Walmart

In other news, EVP John D. Rainey sold 2,200 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $88.66, for a total value of $195,052.00. Following the completion of the transaction, the executive vice president now directly owns 398,024 shares in the company, valued at approximately $35,288,807.84. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel J. Bartlett sold 1,830 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.07, for a total value of $166,658.10. Following the transaction, the executive vice president now directly owns 460,705 shares in the company, valued at approximately $41,956,404.35. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,852 shares of company stock valued at $16,785,080 in the last quarter. Insiders own 45.58% of the company’s stock.

Walmart Price Performance

NYSE:WMT opened at $83.09 on Friday. Walmart Inc. has a 52-week low of $58.56 and a 52-week high of $105.30. The stock has a fifty day moving average of $94.01 and a 200 day moving average of $89.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The firm has a market capitalization of $666.12 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 4.42 and a beta of 0.69.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) 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 firm had revenue of $180.55 billion during the quarter, compared to the consensus estimate of $178.83 billion. On average, research analysts expect that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a $0.235 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a yield of 1.13%. Walmart’s dividend payout ratio is presently 39.00%.

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.