Park National Corp Boosts Walmart Stake by 282.9% in Q3

Park National Corp OH significantly increased its stake in Walmart Inc. (NASDAQ: WMT) by 282.9% during the third quarter, according to its recent SEC filing. The fund now holds 119,865 shares of Walmart stock, valued at $12,456,000, after acquiring an additional 88,562 shares during the period. Several other hedge funds also adjusted their positions in Walmart, with MFA Wealth Services, Realta Investment Advisors, and Compton Financial Group LLC all increasing their holdings by small percentages during the first quarter.

Meanwhile, Walmart's top executives made notable stock sales. CEO John R. Furner sold 13,125 shares on September 17th at an average price of $106.66, totaling $1,399,912.50. This transaction reduced his position by 1.99%. EVP Christopher Nicholas also sold 2,900 shares on the same day at $106.65 each, amounting to $309,285.00, which represented a 0.51% decrease in his holdings. Over the past three months, insiders have sold 81,219 shares worth $8,604,429.

Walmart's stock performance has been mixed, with shares trading at $104.80 on Monday, up $0.54 from the previous close. The company's 52-week range is between $98.88 and $135.15, and it has a market capitalization of $831.43 billion. Walmart reported earnings of $0.81 per share for the quarter ending August 20th, beating analyst estimates of $0.74. The company's revenue was $187.94 billion, up 5.9% year-over-year.

Analysts have mixed views on Walmart's stock. UBS Group lowered its target price to $130.00 but maintained a "buy" rating, while JPMorgan Chase & Co. reduced its target to $125.00 with an "overweight" rating. The consensus among analysts is a "Moderate Buy" with an average price target of $131.74. Institutional investors own 26.76% of the stock, and insiders hold 0.09%.