WestEnd Advisors LLC Decreases Stake in Walmart Inc. (NYSE:WMT)

by · The Markets Daily

WestEnd Advisors LLC lowered its position in Walmart Inc. (NYSE:WMT – Free Report) by 3.2% in the first quarter, Holdings Channel reports. The fund owned 511,054 shares of the retailer’s stock after selling 17,131 shares during the period. Walmart makes up approximately 1.2% of WestEnd Advisors LLC’s portfolio, making the stock its 20th biggest holding. WestEnd Advisors LLC’s holdings in Walmart were worth $44,865,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Horizon Financial Services LLC lifted its stake in Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. EQ Wealth Advisors LLC acquired a new stake in Walmart during the first quarter worth approximately $35,000. Noble Wealth Management PBC acquired a new stake in Walmart during the fourth quarter worth approximately $37,000. Mizuho Bank Ltd. acquired a new stake in Walmart during the fourth quarter worth approximately $41,000. Finally, Nexus Investment Management ULC acquired a new stake in Walmart during the first quarter worth approximately $49,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insiders Place Their Bets

In other Walmart news, EVP John D. Rainey sold 2,200 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $88.66, for a total transaction of $195,052.00. Following the sale, the executive vice president now directly owns 398,024 shares in the company, valued at approximately $35,288,807.84. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Bartlett sold 1,760 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $94.82, for a total transaction of $166,883.20. Following the sale, the executive vice president now owns 520,275 shares in the company, valued at $49,332,475.50. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,711 shares of company stock worth $13,688,803. Corporate insiders own 45.58% of the company’s stock.

Walmart Stock Performance

NYSE:WMT opened at $97.41 on Friday. The firm’s fifty day moving average price is $96.80 and its 200 day moving average price is $94.23. Walmart Inc. has a 1-year low of $66.67 and a 1-year high of $105.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22. The firm has a market cap of $777.37 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 4.75 and a beta of 0.69.

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

Walmart Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th were given a dividend of $0.235 per share. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s payout ratio is currently 40.17%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WMT. Sanford C. Bernstein reissued an “outperform” rating on shares of Walmart in a report on Monday, May 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Walmart in a report on Wednesday, March 26th. Wall Street Zen raised shares of Walmart from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Evercore ISI raised their price objective on shares of Walmart from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Finally, Mizuho raised their price objective on shares of Walmart from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Check Out Our Latest Research Report on Walmart

Walmart Company Profile

(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.

Further Reading

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