Fortitude Family Office LLC Sells 4,509 Shares of Walmart Inc. (NYSE:WMT)

Fortitude Family Office LLC trimmed its stake in Walmart Inc. (NYSE:WMT) by 55.5% in the first quarter, HoldingsChannel reports. The firm owned 3,613 shares of the retailer’s stock after selling 4,509 shares during the period. Fortitude Family Office LLC’s holdings in Walmart were worth $317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in Walmart during the 4th quarter worth approximately $25,000. Horizon Financial Services LLC increased its holdings in shares of Walmart by 1,007.7% during the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after acquiring an additional 262 shares in the last quarter. Noble Wealth Management PBC acquired a new position in shares of Walmart during the fourth quarter worth approximately $37,000. Mizuho Bank Ltd. bought a new position in shares of Walmart in the 4th quarter worth $41,000. Finally, Nexus Investment Management ULC bought a new position in shares of Walmart in the 1st quarter worth $49,000. 26.76% of the stock is owned by institutional investors.

Walmart Price Performance

Shares of NYSE:WMT opened at $95.70 on Thursday. The firm has a market capitalization of $765.70 billion, a PE ratio of 39.71, a P/E/G ratio of 4.42 and a beta of 0.69. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $95.31 and a two-hundred day moving average price of $94.01. Walmart Inc. has a twelve month low of $65.90 and a twelve month high of $105.30.

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 company had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. During the same period last year, the firm earned $0.60 EPS. Walmart’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 12th were paid 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 40.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WMT. Wall Street Zen raised shares of Walmart from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Stifel Nicolaus decreased their price objective on Walmart from $93.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Walmart in a research note on Friday, May 16th. Erste Group Bank cut Walmart from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Finally, Evercore ISI upped their price target on Walmart from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Two 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Insider Activity at Walmart

In other news, EVP Kathryn J. Mclay sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $85.95, for a total transaction of $343,800.00. Following the completion of the transaction, the executive vice president now directly owns 888,309 shares in the company, valued at $76,350,158.55. The trade was a 0.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,148 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $96.58, for a total transaction of $2,815,113.84. Following the completion of the transaction, the chief executive officer now directly owns 4,451,199 shares in the company, valued at approximately $429,896,799.42. The trade was a 0.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,534 shares of company stock worth $12,833,664. 45.58% of the stock is owned by company insiders.

Walmart Profile

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.