Advisors Capital Management LLC decreased its position in shares of Walmart Inc. (NYSE:WMT – Get Rating) by 65.5% in the 1st quarter, HoldingsChannel reports. The fund owned 44,079 shares of the retailer's stock after selling 83,640 shares during the period. Advisors Capital Management LLC's holdings in Walmart were worth $6,564,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of WMT. Norges Bank bought a new stake in shares of Walmart during the fourth quarter valued at approximately $2,925,852,000. GQG Partners LLC bought a new stake in shares of Walmart during the fourth quarter valued at approximately $1,507,971,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Walmart by 464.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,572,091 shares of the retailer's stock valued at $225,114,000 after acquiring an additional 1,293,769 shares in the last quarter. Castleview Partners LLC bought a new stake in shares of Walmart during the fourth quarter valued at approximately $8,325,000. Finally, Invesco Ltd. grew its holdings in Walmart by 15.7% during the fourth quarter. Invesco Ltd. now owns 8,710,904 shares of the retailer's stock worth $1,260,381,000 after buying an additional 1,181,373 shares in the last quarter. Institutional investors own 30.79% of the company's stock.
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Insiders Place Their Bets
In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of the company's stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $122.13, for a total value of $1,185,638.04. Following the transaction, the chief executive officer now directly owns 1,517,160 shares in the company, valued at approximately $185,290,750.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 29,124 shares of company stock worth $3,638,461 in the last ninety days. 47.06% of the stock is currently owned by insiders.
Walmart Stock Performance
Shares of WMT opened at $129.82 on Friday. The stock's 50-day simple moving average is $125.39 and its 200 day simple moving average is $136.77. The stock has a market capitalization of $355.86 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 4.13 and a beta of 0.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.23 and a current ratio of 0.86. Walmart Inc. has a 52-week low of $117.27 and a 52-week high of $160.77.
Walmart (NYSE:WMT – Get Rating) last announced its earnings results on Tuesday, May 17th. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.18). The business had revenue of $141.60 billion during the quarter, compared to the consensus estimate of $138.05 billion. Walmart had a return on equity of 19.05% and a net margin of 2.26%. Walmart's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. Research analysts forecast that Walmart Inc. will post 5.68 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on WMT. Cowen decreased their price target on Walmart from $180.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, July 26th. Raymond James decreased their price target on Walmart from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Wednesday, May 18th. JPMorgan Chase & Co. set a $128.00 price target on Walmart in a report on Tuesday, July 26th. MKM Partners decreased their price target on Walmart from $159.00 to $152.00 and set a "buy" rating for the company in a report on Tuesday, July 26th. Finally, Piper Sandler started coverage on Walmart in a report on Wednesday, August 3rd. They set a "neutral" rating and a $135.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Walmart has a consensus rating of "Moderate Buy" and a consensus price target of $151.00.
Walmart Profile
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Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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