Walmart Inc. (NYSE:WMT) Shares Sold by Concord Wealth Partners

Concord Wealth Partners reduced its position in shares of Walmart Inc. (NYSE:WMT) by 37.0% during the first quarter, Holdings Channel.com reports. The fund owned 27,209 shares of the retailer’s stock after selling 16,001 shares during the quarter. Concord Wealth Partners’ holdings in Walmart were worth $2,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WMT. Horizon Financial Services LLC increased its stake in Walmart by 1,007.7% in the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after purchasing an additional 262 shares in the last quarter. EQ Wealth Advisors LLC purchased a new position in Walmart during the 1st quarter valued at about $35,000. Mizuho Bank Ltd. purchased a new position in Walmart during the 4th quarter valued at about $41,000. Nexus Investment Management ULC purchased a new position in Walmart during the 1st quarter valued at about $49,000. Finally, WealthTrak Capital Management LLC purchased a new position in Walmart during the 4th quarter valued at about $53,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Walmart Stock Down 0.3%

Shares of WMT stock opened at $95.11 on Thursday. Walmart Inc. has a 12 month low of $66.67 and a 12 month high of $105.30. The firm has a market cap of $759.04 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 4.59 and a beta of 0.68. The stock has a 50 day moving average of $96.89 and a 200-day moving average of $94.56. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. 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 previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WMT shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $115.00 target price on shares of Walmart in a research note on Monday, June 9th. KeyCorp lifted their target price on Walmart from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Evercore ISI lifted their target price on Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $103.00 price target (up from $102.00) on shares of Walmart in a report on Monday, June 9th. Finally, Wall Street Zen raised Walmart from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.67.

Insider Transactions at Walmart

In related news, EVP Kathryn J. Mclay sold 28,000 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was 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 directly owned 1,064,455 shares in the company, valued at approximately $103,252,135. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $95.85, for a total value of $1,258,031.25. Following the completion of the transaction, the executive vice president owned 945,434 shares of the company’s stock, valued at $90,619,848.90. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,951 shares of company stock valued at $13,543,436. Company insiders own 45.58% of the company’s stock.

Walmart Company 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.