Walmart Inc. (NYSE:WMT) Shares Sold by Summit Global Investments

Summit Global Investments reduced its holdings in Walmart Inc. (NYSE:WMT) by 35.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,939 shares of the retailer’s stock after selling 39,299 shares during the period. Summit Global Investments’ holdings in Walmart were worth $5,728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Advisory Group LLC increased its holdings in Walmart by 2.1% in the 3rd quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock worth $499,000 after acquiring an additional 126 shares in the last quarter. Professional Financial Advisors LLC increased its stake in shares of Walmart by 0.6% during the third quarter. Professional Financial Advisors LLC now owns 21,839 shares of the retailer’s stock worth $1,763,000 after purchasing an additional 137 shares in the last quarter. Inspire Advisors LLC raised its position in shares of Walmart by 2.1% during the 3rd quarter. Inspire Advisors LLC now owns 6,677 shares of the retailer’s stock worth $539,000 after purchasing an additional 137 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Walmart by 2.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 6,987 shares of the retailer’s stock valued at $564,000 after buying an additional 137 shares in the last quarter. Finally, Trust Co of the South boosted its holdings in Walmart by 0.5% in the 3rd quarter. Trust Co of the South now owns 25,647 shares of the retailer’s stock worth $2,071,000 after buying an additional 138 shares during the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Walmart

In other news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total value of $232,440.00. Following the sale, the executive vice president now directly owns 384,165 shares in the company, valued at approximately $29,765,104.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Alice L. Walton sold 2,375,563 shares of Walmart stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the completion of the sale, the insider now directly owns 619,646,544 shares of the company’s stock, valued at approximately $47,687,998,026.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $77.48, for a total value of $232,440.00. Following the completion of the transaction, the executive vice president now directly owns 384,165 shares in the company, valued at $29,765,104.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,337,337 shares of company stock valued at $958,823,647 in the last 90 days. Company insiders own 45.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on WMT. Guggenheim increased their target price on Walmart from $81.00 to $90.00 and gave the company a “buy” rating in a report on Monday, October 28th. StockNews.com raised Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Morgan Stanley lifted their target price on shares of Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Walmart from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company upped their price objective on shares of Walmart from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $83.92.

Walmart Trading Up 0.5 %

WMT opened at $83.84 on Friday. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $85.54. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $80.22 and a 200-day simple moving average of $71.67. The firm has a market cap of $673.93 billion, a P/E ratio of 43.59, a P/E/G ratio of 4.18 and a beta of 0.51.

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

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.