Skye Global Management LP Has $8.40 Million Stock Holdings in Walmart Inc. (NYSE:WMT)

Skye Global Management LP boosted its stake in shares of Walmart Inc. (NYSE:WMT) by 252.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,000 shares of the retailer’s stock after acquiring an additional 74,500 shares during the quarter. Walmart makes up approximately 0.2% of Skye Global Management LP’s holdings, making the stock its 25th biggest holding. Skye Global Management LP’s holdings in Walmart were worth $8,398,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Peterson Financial Group Inc. acquired a new stake in shares of Walmart in the 3rd quarter valued at $26,000. Voisard Asset Management Group Inc. boosted its stake in shares of Walmart by 77.3% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Hoese & Co LLP acquired a new position in Walmart in the third quarter valued at approximately $33,000. TruNorth Capital Management LLC grew its holdings in Walmart by 138.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after acquiring an additional 249 shares during the period. Finally, Cultivar Capital Inc. acquired a new position in shares of Walmart in the 2nd quarter valued at $29,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on WMT shares. Telsey Advisory Group increased their target price on Walmart from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Melius Research initiated coverage on shares of Walmart in a report on Monday, September 23rd. They issued a “buy” rating and a $95.00 price target for the company. Redburn Atlantic upgraded Walmart to a “strong-buy” rating in a report on Monday, September 23rd. BMO Capital Markets boosted their price objective on Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Citigroup raised their target price on shares of Walmart from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.88.

Walmart Price Performance

Shares of NYSE WMT opened at $91.88 on Friday. The business has a fifty day moving average price of $83.08 and a two-hundred day moving average price of $74.60. The stock has a market capitalization of $738.55 billion, a PE ratio of 37.71, a P/E/G ratio of 4.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.23. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $92.25.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $169.59 billion during the quarter, compared to analysts’ expectations of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. Walmart’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts predict that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $82.12, for a total value of $246,360.00. Following the completion of the transaction, the executive vice president now owns 378,165 shares of the company’s stock, valued at $31,054,909.80. This represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total transaction of $2,348,559.36. Following the transaction, the chief executive officer now owns 3,873,053 shares of the company’s stock, valued at $312,322,993.92. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,337,337 shares of company stock worth $958,823,647 over the last three months. Insiders own 45.58% of the company’s stock.

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.