Evernest Financial Advisors LLC Increases Investment in Walmart Inc. (NYSE:WMT)

In a notable move, Evernest Financial Advisors LLC has significantly increased its investment in Walmart Inc. (NYSE:WMT) by 186.5% during the third quarter of 2024. This investment firm now holds 49,020 shares of Walmart after acquiring an additional 31,911 shares within the period. Walmart represents approximately 1.1% of Evernest's overall investment portfolio, positioning it as the firm’s 21st largest holding. At the conclusion of the latest quarter, Evernest’s investment in Walmart was valued at $3,958,000.

Other institutional investors and hedge funds have recently made their own adjustments to their Walmart investments. For instance, Hoese & Co LLP initiated a new stake in Walmart during the third quarter, valued at around $33,000. EntryPoint Capital LLC also established a new position in Walmart during the first quarter, estimated at about $25,000. Meanwhile, TruNorth Capital Management LLC increased its stake by 138.3% in the second quarter, now owning 429 shares valued at $29,000 after purchasing 249 additional shares. Other firms, such as Cultivar Capital Inc. and Livelsberger Financial Advisory, have also made new investments in Walmart during the second and third quarters, respectively. Collectively, hedge funds and institutional investors own roughly 26.76% of Walmart’s stock.

Walmart Stock Performance

On October 22, 2024, Walmart's stock opened at $80.81. The company maintains a debt-to-equity ratio of 0.46, a quick ratio of 0.22, and a current ratio of 0.80. It boasts a market capitalization of $650 billion, alongside a price-to-earnings (P/E) ratio of 34.53 and P/E growth (P/E/G) ratio of 4.07. Walmart's stock has witnessed a range over the last year, with a low of $49.85 and a high of $81.82. Currently, its 50-day simple moving average stands at $78.14, while the 200-day average is $69.83.

Walmart last disclosed its quarterly earnings on August 15, 2024, reporting earnings per share of $0.67, surpassing analysts’ consensus estimate of $0.65 by $0.02. The retailer's revenue for the quarter reached $169.30 billion, exceeding the anticipated $168.56 billion. Walmart’s net profit margin rests at 2.34%, with a return on equity of 21.72%. This results in a year-over-year revenue growth of 4.7%, compared to the same quarter last year, which saw earnings per share of $0.61. Analysts forecast that Walmart will achieve earnings per share of 2.44 for the current fiscal year.

Analysts' Outlook on Walmart

Wall Street analysts have issued several reports on Walmart. Roth MKM has raised its price target from $71.00 to $81.00, assigning a “buy” rating. Similarly, Bank of America increased its price target from $75.00 to $85.00, also designating a “buy” rating. StockNews.com elevated Walmart from a “buy” to a “strong-buy” rating. Wells Fargo’s report increased the price target from $81.00 to $88.00 with an “overweight” rating. In a reaffirmation, BMO Capital Markets set a price objective of $80.00 while maintaining an “outperform” rating. Overall, the current consensus rating for Walmart stands at “Buy” with an average price target of $82.96, according to data from MarketBeat.com.

Insider Activities at Walmart

In insider trading news, Daniel J. Bartlett, an executive vice president at Walmart, recently sold 2,065 shares on October 15 at an average price of $80.69, making the total transaction value $166,624.85. Post-transaction, he holds 457,493 shares valued at approximately $36,915,110.17. This sale marks a fractional decrease of 0.00% in his ownership stake. Previously, he sold another 2,063 shares on September 16 at an average price of $80.76, totaling $166,607.88. After this transaction, he retains 459,558 shares, worth about $37,113,904.08. In total, insiders have sold over 12 million shares, amounting to an approximate value of $958 million in the last quarter alone. Currently, insiders own 45.58% of Walmart's stock.

About Walmart

Walmart Inc. operates through various segments in the retail and wholesale sectors globally. The company comprises three primary segments: Walmart U.S., Walmart International, and Sam's Club. Walmart operates supercenters, supermarkets, hypermarkets, warehouse clubs, and discount stores under the Walmart and Walmart Neighborhood Market brands. It also offers eCommerce services through various platforms, including Walmart's international websites and mobile applications.

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