South State CORP. increased its position in shares of Walmart Inc. (NYSE:WMT) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,382 shares of the retailer’s stock after purchasing an additional 1,909 shares during the quarter. Walmart accounts for approximately 1.3% of South State CORP.’s investment portfolio, making the stock its 21st largest position. South State CORP.’s holdings in Walmart were worth $12,645,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Managed Asset Portfolios LLC acquired a new position in Walmart during the third quarter worth about $2,361,000. Fisher Asset Management LLC raised its stake in Walmart by 2.6% during the third quarter. Fisher Asset Management LLC now owns 11,332,253 shares of the retailer’s stock worth $1,585,496,000 after acquiring an additional 289,096 shares in the last quarter. Haverford Trust Co. raised its stake in Walmart by 0.8% during the third quarter. Haverford Trust Co. now owns 19,440 shares of the retailer’s stock worth $2,720,000 after acquiring an additional 150 shares in the last quarter. CCM Investment Advisers LLC raised its stake in Walmart by 1.5% during the third quarter. CCM Investment Advisers LLC now owns 89,366 shares of the retailer’s stock worth $12,503,000 after acquiring an additional 1,298 shares in the last quarter. Finally, Physicians Financial Services Inc. raised its stake in Walmart by 1.0% during the third quarter. Physicians Financial Services Inc. now owns 46,412 shares of the retailer’s stock worth $6,494,000 after acquiring an additional 440 shares in the last quarter. 29.34% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Alice L. Walton sold 752,085 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $137.20, for a total value of $103,186,062.00. Following the transaction, the insider now directly owns 11,323,580 shares in the company, valued at approximately $1,553,595,176. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director S Robson Walton sold 450,000 shares of the stock in a transaction on Friday, November 20th. The stock was sold at an average price of $150.95, for a total value of $67,927,500.00. Following the completion of the transaction, the director now owns 3,280,991 shares in the company, valued at $495,265,591.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,382,085 shares of company stock worth $196,681,112. 50.43% of the stock is owned by company insiders.
Walmart (NYSE:WMT) last issued its earnings results on Monday, November 16th. The retailer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.16. Walmart had a return on equity of 19.13% and a net margin of 3.30%. During the same period in the previous year, the company posted $1.16 EPS. On average, analysts expect that Walmart Inc. will post 5.35 EPS for the current fiscal year.
Several research analysts have commented on WMT shares. Citigroup boosted their target price on Walmart from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Smith Barney Citigroup boosted their target price on Walmart from $155.00 to $172.00 in a research note on Wednesday. Tigress Financial reissued a “hold” rating on shares of Walmart in a research note on Tuesday, July 28th. Telsey Advisory Group upped their price objective on Walmart from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, November 13th. Finally, UBS Group set a $148.00 price objective on Walmart and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-seven have assigned a buy rating to the stock. Walmart currently has an average rating of “Buy” and an average price target of $150.29.
Walmart Inc engages in the retail and wholesale operations in various formats worldwide. The company operates in three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, asda.com, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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