Walmart Inc. (NYSE:WMT) Stock Holdings Boosted by Grove Bank & Trust

Grove Bank & Trust lifted its position in shares of Walmart Inc. (NYSE:WMT) by 10.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 20,615 shares of the retailer’s stock after acquiring an additional 1,906 shares during the period. Grove Bank & Trust’s holdings in Walmart were worth $1,810,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WMT. FPC Investment Advisory Inc. bought a new position in shares of Walmart during the fourth quarter worth about $25,000. Horizon Financial Services LLC grew its position in Walmart by 1,007.7% in the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after buying an additional 262 shares in the last quarter. Noble Wealth Management PBC bought a new position in Walmart in the 4th quarter valued at about $37,000. Mizuho Bank Ltd. bought a new position in Walmart in the 4th quarter valued at about $41,000. Finally, Nexus Investment Management ULC bought a new position in Walmart in the 1st quarter valued at about $49,000. Institutional investors own 26.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WMT shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $115.00 target price on shares of Walmart in a research report on Monday, June 9th. Wall Street Zen upgraded shares of Walmart from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Evercore ISI increased their target price on shares of Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Piper Sandler increased their target price on shares of Walmart from $93.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Erste Group Bank lowered shares of Walmart from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $85.63, for a total value of $2,493,888.12. Following the transaction, the chief executive officer now owns 3,972,517 shares in the company, valued at $340,166,630.71. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn J. Mclay sold 28,000 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $97.00, for a total value of $2,716,000.00. Following the completion of the transaction, the executive vice president now owns 1,064,455 shares in the company, valued at $103,252,135. This represents a 2.56% 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 90 days. Company insiders own 45.58% of the company’s stock.

Walmart Price Performance

WMT stock opened at $94.28 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. Walmart Inc. has a one year low of $66.41 and a one year high of $105.30. The firm has a market capitalization of $752.39 billion, a PE ratio of 39.12, a P/E/G ratio of 4.42 and a beta of 0.69. The firm has a 50-day moving average of $96.04 and a two-hundred day moving average of $94.11.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $164.53 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The firm also recently announced 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 was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio is 40.17%.

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.