Lord Abbett & CO. LLC reduced its position in shares of Walmart Inc. (NASDAQ:WMT – Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,016,959 shares of the retailer’s stock after selling 367,864 shares during the period. Walmart comprises about 1.0% of Lord Abbett & CO. LLC’s investment portfolio, making the stock its 14th biggest position. Lord Abbett & CO. LLC’s holdings in Walmart were worth $336,119,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in WMT. Norges Bank bought a new position in Walmart during the 4th quarter valued at about $6,458,529,000. AQR Capital Management LLC lifted its holdings in Walmart by 188.1% during the 3rd quarter. AQR Capital Management LLC now owns 11,663,172 shares of the retailer’s stock valued at $1,199,907,000 after purchasing an additional 7,614,172 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Walmart by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 103,010,709 shares of the retailer’s stock valued at $11,426,753,000 after purchasing an additional 6,517,394 shares during the last quarter. Capital International Investors bought a new position in Walmart during the 4th quarter valued at about $592,848,000. Finally, Vanguard Group Inc. lifted its holdings in Walmart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 439,957,146 shares of the retailer’s stock valued at $49,015,626,000 after purchasing an additional 4,304,436 shares during the last quarter. 26.76% of the stock is owned by institutional investors.
Walmart Trading Up 0.4%
Shares of NASDAQ WMT opened at $121.04 on Friday. Walmart Inc. has a 1-year low of $93.62 and a 1-year high of $135.15. The company has a market cap of $963.25 billion, a PE ratio of 42.47, a P/E/G ratio of 4.50 and a beta of 0.59. The company has a current ratio of 0.77, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $125.28 and a two-hundred day moving average of $121.66.
Analyst Ratings Changes
Several equities analysts recently issued reports on WMT shares. TD Cowen reissued a “buy” rating and set a $150.00 price target (up from $145.00) on shares of Walmart in a report on Thursday, May 7th. KeyCorp reissued an “overweight” rating on shares of Walmart in a report on Friday, May 22nd. Bank of America started coverage on shares of Walmart in a report on Friday, February 27th. They set a “buy” rating and a $150.00 price target for the company. HSBC downgraded shares of Walmart from a “buy” rating to a “hold” rating and lifted their price target for the company from $122.00 to $131.00 in a report on Friday, February 20th. Finally, Truist Financial set a $140.00 target price on shares of Walmart in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Walmart currently has an average rating of “Moderate Buy” and an average price target of $138.85.
Check Out Our Latest Stock Report on WMT
Insider Buying and Selling
In related news, EVP Christopher James Nicholas sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $123.92, for a total transaction of $359,368.00. Following the completion of the sale, the executive vice president directly owned 577,853 shares of the company’s stock, valued at $71,607,543.76. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director C Douglas Mcmillon sold 19,416 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $118.63, for a total transaction of $2,303,320.08. Following the sale, the director directly owned 4,174,579 shares of the company’s stock, valued at approximately $495,230,306.77. This trade represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 128,986 shares of company stock valued at $15,927,908. Insiders own 0.09% of the company’s stock.
About Walmart
Walmart is a multinational retail corporation that operates a broad portfolio of store formats and digital services. Its core business includes large-format supercenters, discount department stores, neighborhood grocery stores and a membership warehouse chain, Sam’s Club. The company’s merchandising mix covers groceries, household goods, apparel, electronics and pharmacy services, supplemented by private-label products and category-specific offerings. Walmart pairs its physical store network with online platforms and mobile applications to provide omnichannel shopping, fulfillment and delivery options for consumers and businesses.
The company was founded by Sam Walton, who opened the first store in Rogers, Arkansas in 1962; it is headquartered in Bentonville, Arkansas.
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