Maiden Cove Capital LLC Acquires Stake in Walmart Inc.

In the third quarter, Maiden Cove Capital LLC made a noteworthy move by purchasing a new stake in Walmart Inc. (NYSE:WMT). This acquisition was documented in its recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,503 shares of Walmart's stock, bringing the total value of this investment to approximately $929,000. This investment represents about 1.9% of Maiden Cove Capital LLC's entire portfolio, positioning it as the 14th largest holding in their investment strategy.

Changes in Institutional Holdings

A number of other significant investors have also adjusted their holdings in Walmart recently. Notably, Vanguard Group Inc. increased its stake in Walmart by an astounding 199.4% during the first quarter, now owning 411,745,334 shares valued at around $24.77 billion. In a similar vein, Price T Rowe Associates Inc. MD increased their holdings by 181.0%, bringing their total ownership to 56,861,234 shares worth approximately $3.42 billion after acquiring over 36 million additional shares.

Furthermore, Swiss National Bank expanded its position by 187.4% in the same quarter, acquiring an additional 8.67 million shares to now own 13,303,200 shares valued at about $800 million. Meanwhile, Canada Pension Plan Investment Board raised its stake by 284.0%, resulting in ownership of 11,122,273 shares with a total value of around $669 million. Additionally, International Assets Investment Management LLC significantly boosted its position by 8,814.4%, amassing 6,963,218 shares worth approximately $562 million. Currently, institutional investors and hedge funds control 26.76% of Walmart’s stock.

Analyst Ratings

Several analysts have assessed Walmart's stocks and provided their insights recently. Jefferies Financial Group raised its price target on Walmart from $85.00 to $90.00, recommending a “buy” for the shares. Meanwhile, Sanford C. Bernstein initiated coverage on Walmart, providing an “outperform” rating with a price target of $95.00. Robert W. Baird also increased their target price from $82.00 to $90.00, supporting an “outperform” rating. In a notable shift, Citigroup adjusted their pricing target from $75.00 to $98.00 with a “buy” assessment. KeyCorp uplifted their price target to $88.00 along with an “overweight” recommendation.

A comprehensive evaluation shows that one investment analyst maintained a hold rating for Walmart stock, while 29 analysts gave it a buy rating, with two recommending a strong buy. Data from MarketBeat.com indicates that Walmart currently enjoys an average rating of “Buy” with a consensus target price of $83.92.

Current Market Performance

During mid-day trading on Friday, Walmart shares (NYSE:WMT) saw a rise of 1.2%, reaching $84.83. The trading volume reached 14,396,543, exceeding the average volume of 11,546,657. Walmart's financial metrics include a debt-to-equity ratio of 0.46, a current ratio of 0.80, and a quick ratio of 0.22. The company showcases a market cap of $681.88 billion, a P/E ratio of 44.11, a PEG ratio of 4.25, and a beta of 0.51. The stock has experienced a 52-week low of $49.85 and a high of $85.54.

Recent Earnings Report

Walmart recently announced its quarterly earnings on August 15th. The retailer reported $0.67 earnings per share, surpassing the analysts' expectations of $0.65 by $0.02. The revenue for that quarter was $169.30 billion, slightly above the consensus estimate of $168.56 billion. Walmart also reported a net margin of 2.34% and a return on equity of 21.72%. Revenue showed a year-on-year increase of 4.7%, compared to the same quarter last year when the company earned $0.61 EPS. Analysts predict Walmart Inc. will report 2.44 earnings per share for the current year.

Insider Transactions

In recent insider activities, S Robson Walton, a major shareholder, sold 4,057,369 shares at an average price of $77.20 on September 9th, amounting to over $313 million. Following this transaction, Walton's ownership fell to approximately 611,988,318 shares, valued at around $47.25 billion. In a similar move, Alice L. Walton also sold 2,709,163 shares at an average price of $77.37 for about $209 million. Following these sales, Alice retained about 630 million shares worth roughly $48.78 billion. Within the last quarter, insiders collectively sold 12,337,337 shares totaling $958.82 million, indicating that 45.58% of the stock is still owned by corporate insiders.

Overview of Walmart Inc.

Walmart Inc. is a retail giant operating globally in retail, wholesale, and eCommerce sectors. The company operates in various segments, including Walmart U.S., Walmart International, and Sam's Club. Walmart's offerings include supercenters, supermarkets, hypermarkets, and membership-based warehouse clubs, alongside significant eCommerce capabilities through its platforms.

investment, Walmart, stocks