Thrive Wealth Management LLC Cuts Stake in Walmart Inc. (NYSE:WMT)

Thrive Wealth Management LLC cut its holdings in shares of Walmart Inc. (NYSE:WMT) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,059 shares of the retailer’s stock after selling 582 shares during the quarter. Thrive Wealth Management LLC’s holdings in Walmart were worth $532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in Walmart in the fourth quarter valued at $252,000. LaFleur & Godfrey LLC grew its position in shares of Walmart by 1.4% during the fourth quarter. LaFleur & Godfrey LLC now owns 69,542 shares of the retailer’s stock worth $6,283,000 after buying an additional 992 shares in the last quarter. Eagle Capital Management LLC increased its stake in shares of Walmart by 9.1% during the fourth quarter. Eagle Capital Management LLC now owns 3,861 shares of the retailer’s stock worth $349,000 after buying an additional 321 shares during the period. Brighton Jones LLC raised its holdings in Walmart by 28.8% in the fourth quarter. Brighton Jones LLC now owns 98,150 shares of the retailer’s stock valued at $8,868,000 after acquiring an additional 21,939 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Walmart in the fourth quarter worth approximately $10,645,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insiders Place Their Bets

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

Walmart Trading Down 0.6%

Shares of WMT stock opened at $99.39 on Thursday. The firm has a market capitalization of $795.21 billion, a PE ratio of 41.24, a P/E/G ratio of 4.42 and a beta of 0.69. Walmart Inc. has a 1-year low of $65.64 and a 1-year high of $105.30. The business’s fifty day moving average price is $94.33 and its 200 day moving average price is $93.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23.

Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The business had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Announces Dividend

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

Analyst Ratings Changes

WMT has been the topic of a number of recent analyst reports. Raymond James dropped their price objective on shares of Walmart from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Walmart in a report on Monday, February 24th. Telsey Advisory Group restated an “outperform” rating on shares of Walmart in a research note on Wednesday, May 21st. Stifel Nicolaus decreased their price target on Walmart from $93.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $102.00 price objective on shares of Walmart in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Walmart currently has an average rating of “Moderate Buy” and an average price target of $105.16.

About Walmart

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.