BOCHK Asset Management Ltd has recently increased its investment in Walmart Inc., acquiring 13,000 shares valued at approximately $1.14 million during the first quarter. This acquisition makes Walmart the 15th largest holding within BOCHK’s portfolio, representing 0.6% of their total assets.
Several other institutional investors have also adjusted their stakes in Walmart. Noteworthy actions include Horizon Financial Services LLC, which significantly raised its position by over 1,000%, now holding 288 shares after adding 262 shares in the previous quarter. EQ Wealth Advisors LLC, Mizuho Bank Ltd., Nexus Investment Management ULC, and WealthTrak Capital Management LLC have also made new investments in Walmart, with values ranging from $35,000 to $53,000. In total, institutional investors now control about 26.76% of Walmart’s shares.
Analysts continue to show confidence in Walmart. Recent reports indicate that Robert W. Baird has increased its price target from $100 to $110 and maintained an “outperform” rating. Royal Bank of Canada has also reaffirmed an “outperform” rating with a target increased to $103. Overall, the sentiment remains positive, with a majority of analysts rating the stock as a buy.
Walmart’s stock performance has been robust, opening at $98.29 recently. The company has demonstrated resilience, with a reported 2.5% increase in quarterly revenue year over year, totaling $165.61 billion for the most recent quarter. Furthermore, Walmart announced a dividend payment of $0.235 per share, which establishes a yield of 0.95%, reflecting a commitment to returning value to shareholders.
In terms of insider trading, significant transactions have occurred. EVP John D. Rainey sold 2,200 shares, totaling $217,800, while EVP Kathryn J. Mclay sold 28,000 shares for around $2.72 million. Despite these sales, insiders continue to hold a majority of shares, indicating confidence in the company’s future.
Overall, Walmart remains a strong entity in the retail sector, backed by institutional investment and positive analyst ratings. As the company continues to adapt and succeed, its future looks promising, making it an appealing option for both current and potential investors.