Latitude Advisors LLC Acquires 264 Shares of Walmart Inc. (NYSE:WMT)

by · The Cerbat Gem

Latitude Advisors LLC increased its holdings in Walmart Inc. (NYSE:WMT – Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,539 shares of the retailer’s stock after purchasing an additional 264 shares during the period. Latitude Advisors LLC’s holdings in Walmart were worth $398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Horizon Financial Services LLC boosted its position in shares of Walmart by 1,007.7% during the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after acquiring an additional 262 shares during the last quarter. EQ Wealth Advisors LLC bought a new stake in Walmart in the first quarter worth $35,000. Mizuho Bank Ltd. purchased a new stake in Walmart during the fourth quarter valued at $41,000. Nexus Investment Management ULC bought a new position in Walmart during the first quarter valued at $49,000. Finally, WealthTrak Capital Management LLC bought a new position in Walmart during the fourth quarter valued at $53,000. 26.76% of the stock is currently owned by institutional investors.

Insider Transactions at Walmart

In other news, CEO C Douglas Mcmillon sold 19,416 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $97.19, for a total transaction of $1,887,041.04. Following the sale, the chief executive officer owned 4,431,783 shares of the company’s stock, valued at $430,724,989.77. This trade represents a 0.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John D. Rainey sold 2,200 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total transaction of $216,568.00. Following the completion of the transaction, the executive vice president owned 628,318 shares of the company’s stock, valued at approximately $61,851,623.92. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,711 shares of company stock valued at $13,710,319. 45.58% of the stock is owned by insiders.

Walmart Price Performance

Shares of NYSE WMT opened at $97.62 on Thursday. Walmart Inc. has a 52 week low of $66.67 and a 52 week high of $105.30. The business’s 50 day moving average price is $97.02 and its 200 day moving average price is $94.31. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. The firm has a market cap of $779.05 billion, a P/E ratio of 41.72, a P/E/G ratio of 4.73 and a beta of 0.68.

Walmart (NYSE:WMT – Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The firm had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were issued a $0.235 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio (DPR) is presently 40.17%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their target price on Walmart from $93.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Citigroup reaffirmed a “buy” rating on shares of Walmart in a research note on Tuesday, May 6th. Evercore ISI raised their target price on shares of Walmart from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Tigress Financial increased their price objective on shares of Walmart from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group cut their target price on Walmart from $112.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Walmart currently has an average rating of “Moderate Buy” and an average price target of $106.67.

View Our Latest Analysis on Walmart

About Walmart

(Free Report)

Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.

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