City State Bank Reduces Holdings in Walmart Inc. (NYSE:WMT)

City State Bank cut its stake in shares of Walmart Inc. (NYSE:WMT) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,741 shares of the retailer’s stock after selling 180 shares during the quarter. City State Bank’s holdings in Walmart were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. AHL Investment Management Inc. raised its position in Walmart by 192.1% during the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock valued at $1,444,000 after purchasing an additional 15,785 shares during the last quarter. Liberty Wealth Management LLC bought a new position in Walmart during the 1st quarter valued at approximately $270,000. Commerce Bank raised its position in shares of Walmart by 189.4% in the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock worth $55,213,000 after acquiring an additional 600,521 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Walmart by 290.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock worth $16,250,000 after acquiring an additional 200,947 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Walmart by 189.4% in the 1st quarter. Private Advisor Group LLC now owns 643,848 shares of the retailer’s stock worth $38,740,000 after acquiring an additional 421,366 shares in the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Walmart Price Performance

Shares of Walmart stock opened at $80.10 on Friday. Walmart Inc. has a one year low of $49.85 and a one year high of $81.60. The stock’s fifty day moving average is $76.55 and its 200 day moving average is $68.88. The stock has a market cap of $643.86 billion, a P/E ratio of 41.65, a P/E/G ratio of 3.99 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The company had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. During the same period last year, the firm earned $0.61 EPS. Walmart’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Walmart Inc. will post 2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

WMT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their target price on Walmart from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and upped their price target for the stock from $76.00 to $89.00 in a research note on Tuesday, September 24th. Morgan Stanley upped their price target on Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Redburn Atlantic upgraded Walmart to a “strong-buy” rating in a research note on Monday, September 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up previously from $81.00) on shares of Walmart in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $82.32.

Insider Buying and Selling

In related news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the transaction, the executive vice president now directly owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Walmart news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $81.04, for a total transaction of $1,063,650.00. Following the sale, the executive vice president now directly owns 606,165 shares of the company’s stock, valued at $49,123,611.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $69.19, for a total value of $207,570.00. Following the sale, the executive vice president now directly owns 387,165 shares in the company, valued at approximately $26,787,946.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,337,670 shares of company stock valued at $958,267,937. 45.58% of the stock is owned by company insiders.

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.