Walmart Forms Partnership with Tribeca Turning 160 Walmart Parking Lots into Drive-in Theaters

 

Family drive-in movies are back as Walmart Inc. NYSE: WMT Walmart Forms Partnership with Tribeca turning 160 store parking lots into drive-in theaters. Starting in early August, NYSE: WMT Walmart is popping up safe, socially distanced drive-in events at Walmart Super Centers across America.

Drive-in movie goers  will have  a  socially distanced big-screen experience. It is a safe way for the whole family to enjoy movies under the stars outside due to the Coronavirus pandemic. Movies will be shown  from August to October with Tribeca programming the films. Concession foods will be available to one’s vehicle.

We reiterate our stock price on Walmart Inc. NYSE: WMT to $300 per share.  Walmart has a Market Cap $350.5 B and a dividend of yield of 2.16%.

As of July 2, 2020 Walmart, Inc. (NYSE:WMT) is trading at 119.79, close to the 52-week high of 133.38. There’s good reason this stock can reach over $300.00 per share. Walmart Inc. (NYSE:WMT) has a market cap of 363.56B. Walmart Inc. (NYSE:WMT) has paid out a $0.54 dividend per share on 2/18/2020.

Walmart Inc. (NYSE:WMT) trades at 23 times forward earnings and pays a forward dividend yield of 1.9%. Dividends have increased annually for 45 straight years. Costco has a higher forward P/E of 38 but pays a lower forward yield of 0.9%. with an increased dividend annually for 16 straight years. Walmart Inc. (NYSE:WMT)’s price-to-earnings ratio is only 15.69% versus Costco’s 29.87%.

Walmart Inc. NYSE: WMT is a behemoth operating not only as a grocery store and also as a pharmacy. There is not a consumer staple product that Walmart Inc. NYSE: WMT does not sell. Walmart Inc. (NYSE:WMT) also offers financial services such as check cashing, wire transfers, and bill payments.

It is pretty evident that the stock market and economy will be on edge for many months to come due to COVID-19. Walmart Inc. (NYSE:WMT) has been hiring many workers due to increased demand due to the pandemic. The stock has shown resiliency during this time. Walmart has plenty of cash from operations to manage their near-term interest expenses.

Doug McMillon is president and CEO of Walmart Inc. Doug  McMillion is the chairman of the Business Roundtable, an association of chief executive officers of America’s leading companies. He serves on the boards of directors of the Consumer Goods Forum, the U.S.-China Business Council and Crystal Bridges Museum of American Art. He also sits on the American Workforce Policy Advisory Board and the advisory board of the Tsinghua University School of Economics and Management in Beijing, China.

Doug McMillon was named president and CEO in 2014. From 2009 to 2014 he was president and CEO of Walmart International, and from 2005 to 2009 he served as president and CEO of Sam’s Club. He has worked at Walmart for nearly 30 years.

Top 6  Institutional Holders

Holder  Shares  Date Reported  % Out    Value

Vanguard Group, Inc. (The)          137,634,260        Mar 30, 2020      4.86%    15,638,004,621

Blackrock Inc.     90,196,443           Mar 30, 2020      3.18%    10,248,119,853

State Street Corporation               70,902,390           Mar 30, 2020      2.50%    8,055,929,551

FMR, LLC              22,899,929           Mar 30, 2020      0.81%    2,601,889,932

Geode Capital Management, LLC               21,186,737           Mar 30, 2020      0.75%    2,407,237,057

Bank of America Corporation      20,967,213           Mar 30, 2020      0.74%    2,382,294,741

Top  Five Mutual Fund Holders

Holder  Shares  Date Reported  % Out    Value

Vanguard Total Stock Market Index Fund              41,720,918           Mar 30, 2020      1.47%    4,740,330,703

Vanguard 500 Index Fund            29,203,838           Mar 30, 2020      1.03%    3,318,140,073

Vanguard Specialized-Dividend Appreciation Index Fund 18,031,710           Jan 30, 2020        0.64%    2,064,450,477

SPDR S&P 500 ETF Trust 15,691,981           Mar 30, 2020      0.55%    1,782,922,881

Vanguard Institutional Index Fund-Institutional Index Fund           12,554,461           Mar 30, 2020      0.44%                1,426,437,858

 

NYSE: WMT    CWEB Analysts view the stock as a long term growth and a great addition to your investment portfolio with an upward momentum of $500 by 2021

 

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