Permanent Capital Management LP Cuts Stake in Walmart Inc. (NYSE:WMT)

by · The Cerbat Gem

Permanent Capital Management LP reduced its position in shares of Walmart Inc. (NYSE:WMT – Free Report) by 21.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,122 shares of the retailer’s stock after selling 1,121 shares during the quarter. Permanent Capital Management LP’s holdings in Walmart were worth $363,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Whelan Financial grew its stake in shares of Walmart by 2.3% during the 4th quarter. Whelan Financial now owns 4,339 shares of the retailer’s stock worth $392,000 after purchasing an additional 97 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Walmart by 1.7% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,937 shares of the retailer’s stock valued at $538,000 after buying an additional 98 shares in the last quarter. Coyle Financial Counsel LLC raised its position in Walmart by 3.1% during the fourth quarter. Coyle Financial Counsel LLC now owns 3,431 shares of the retailer’s stock worth $310,000 after acquiring an additional 102 shares during the period. SC&H Financial Advisors Inc. increased its stake in shares of Walmart by 1.0% during the fourth quarter. SC&H Financial Advisors Inc. now owns 10,232 shares of the retailer’s stock worth $924,000 after purchasing an additional 103 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its stake in Walmart by 0.7% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 15,685 shares of the retailer’s stock valued at $1,417,000 after buying an additional 106 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group reduced their target price on Walmart from $112.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Evercore ISI increased their price objective on Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler lifted their target price on shares of Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. KeyCorp upped their target price on shares of Walmart from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Oppenheimer raised their price target on shares of Walmart from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Walmart presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.16.

Read Our Latest Stock Report on Walmart

Insiders Place Their Bets

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the sale, the chief executive officer now directly owns 3,972,517 shares of the company’s stock, valued at $340,166,630.71. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $99.00, for a total transaction of $217,800.00. Following the sale, the executive vice president now owns 630,518 shares in the company, valued at approximately $62,421,282. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,534 shares of company stock worth $12,833,664 over the last three months. Company insiders own 45.58% of the company’s stock.

Walmart Stock Down 1.5%

Walmart stock opened at $97.82 on Friday. The company has a market capitalization of $782.64 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. Walmart Inc. has a fifty-two week low of $65.64 and a fifty-two week high of $105.30. The firm has a 50 day moving average price of $94.53 and a 200 day moving average price of $93.76.

Walmart (NYSE:WMT – Get Free Report) last issued 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 business had revenue of $165.61 billion during the quarter, compared to analysts’ expectations of $164.53 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts expect that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

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

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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