Maiden Cove Capital LLC Takes Position in Walmart Inc.

Maiden Cove Capital LLC has made an investment in Walmart Inc. (NYSE:WMT), as disclosed in their recent filing with the Securities and Exchange Commission (SEC). During the third quarter, the institutional investor acquired a total of 11,503 shares of Walmart, with an approximate value of $929,000. This acquisition amounts to about 1.9% of Maiden Cove Capital LLC's portfolio, ranking Walmart as their 14th largest holding.

Recent Institutional Activity

In addition to Maiden Cove Capital, several other major investors have adjusted their stakes in Walmart recently. For example, Vanguard Group Inc. increased its ownership by 199.4% during the first quarter, now holding 411,745,334 shares valued at approximately $24.77 billion after purchasing an additional 274,229,968 shares. Similarly, Price T Rowe Associates Inc. MD raised its stake by 181.0%, owning 56,861,234 shares worth $3.42 billion after adding 36,625,314 shares. The Swiss National Bank grew its position by 187.4%, now holding 13,303,200 shares valued at $800.45 million. Canada Pension Plan Investment Board also made a significant increase of 284.0%, acquiring 11,122,273 shares worth $669.23 million. Lastly, International Assets Investment Management LLC boosted its stake by a remarkable 8,814.4%, holding 6,963,218 shares valued at $562.28 million. Currently, institutional investors and hedge funds own about 26.76% of Walmart's shares.

Analyst Ratings

Multiple analysts have recently shared their insights on Walmart stock. Jefferies Financial Group raised its target price from $85.00 to $90.00, assigning a "buy" rating. Sanford C. Bernstein began coverage on Walmart with an “outperform” rating, setting a price target of $95.00. Robert W. Baird also increased its target price from $82.00 to $90.00 while maintaining an “outperform” rating. Meanwhile, Citigroup raised Walmart's price target from $75.00 to $98.00 with a “buy” rating. KeyCorp also adjusted their price target from $87.00 to $88.00, maintaining an “overweight” rating. Currently, one analyst rates the stock as a hold, twenty-nine as a buy, and two as a strong buy, resulting in an average rating of "Buy" with a consensus target price of $83.92.

Walmart Stock Performance

On the trading floor, Walmart's shares experienced a rise of 1.2%, reaching $84.83 during midday trading. The stock's volume recorded 14,396,543 shares, exceeding its average of 11,546,657. Walmart's financial metrics show a market capitalization of $681.88 billion, with a P/E ratio of 44.11 and a PEG ratio of 4.25. Their debt-to-equity ratio stands at 0.46, alongside a current ratio of 0.80 and a quick ratio of 0.22. The company's 50-day moving average is $80.53, while the 200-day moving average is $71.92, with a fifty-two week range from a low of $49.85 to a high of $85.54.

Latest Earnings Report

Walmart's most recent quarterly earnings report was released on August 15th, where the retailer announced earnings per share of $0.67, surpassing analysts' forecast of $0.65. The total revenue for the quarter was reported at $169.30 billion, slightly higher than the projected $168.56 billion. Walmart achieved a net margin of 2.34% and a return on equity of 21.72%, marking a 4.7% increase in revenue year-over-year compared to the previous year's earnings of $0.61 per share. Analysts anticipate that Walmart Inc. will report an average earnings per share of 2.44 for the current year.

Insider Transactions

On the insider trading front, major shareholder S Robson Walton sold 4,057,369 shares on September 9th at an average price of $77.20, amounting to $313,228,886.80. Following the sale, Walton retains 611,988,318 shares valued at about $47.25 billion. Additionally, another major shareholder, Alice L. Walton, sold 2,709,163 shares on September 3rd at an average price of $77.37, totaling $209,607,941.31, leaving her with 630,501,148 shares valued at approximately $48.78 billion. In the last quarter, insiders collectively sold 12,337,337 shares worth approximately $958,823,647, with corporate insiders controlling about 45.58% of Walmart's stock.

Walmart Company Overview

Walmart Inc. operates a variety of retail, wholesale, and eCommerce platforms globally. They are structured into three main segments: Walmart U.S., Walmart International, and Sam's Club. The company runs supercenters, supermarkets, hypermarkets, warehouse clubs, cash-and-carry stores, as well as discount stores under the Walmart and Walmart Neighborhood Market names. Additionally, Walmart operates several eCommerce websites, including walmart.com and Flipkart, among others.

investment, stocks, Walmart