Cullinan Associates Inc. reduced its position in shares of Walmart Inc (NYSE:WMT) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,968,043 shares of the retailer’s stock after selling 11,179 shares during the quarter. Walmart comprises about 23.6% of Cullinan Associates Inc.’s holdings, making the stock its largest holding. Cullinan Associates Inc.’s holdings in Walmart were worth $352,722,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corbenic Partners LLC acquired a new stake in Walmart in the fourth quarter valued at $27,000. Shine Investment Advisory Services Inc. raised its holdings in Walmart by 181.7% in the third quarter. Shine Investment Advisory Services Inc. now owns 307 shares of the retailer’s stock valued at $36,000 after acquiring an additional 198 shares in the last quarter. Knuff & Co LLC acquired a new stake in Walmart in the third quarter valued at $36,000. Princeton Global Asset Management LLC acquired a new stake in Walmart in the second quarter valued at $43,000. Finally, Massey Quick Simon & CO. LLC raised its holdings in Walmart by 232.7% in the third quarter. Massey Quick Simon & CO. LLC now owns 366 shares of the retailer’s stock valued at $43,000 after acquiring an additional 256 shares in the last quarter. 30.37% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on WMT shares. Citigroup reaffirmed a “buy” rating and issued a $135.00 price target (up from $129.00) on shares of Walmart in a report on Wednesday, September 18th. JPMorgan Chase & Co. set a $130.00 price target on shares of Walmart and gave the company a “neutral” rating in a report on Thursday, November 14th. UBS Group upped their price target on shares of Walmart from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Oppenheimer upped their price target on shares of Walmart from $108.00 to $125.00 and gave the company a “market perform” rating in a report on Monday, November 4th. Finally, Nomura started coverage on shares of Walmart in a report on Friday, November 8th. They issued a “buy” rating and a $132.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $124.22.
Walmart (NYSE:WMT) last issued its earnings results on Thursday, November 14th. The retailer reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.07. The company had revenue of $126.98 billion for the quarter, compared to analysts’ expectations of $128.08 billion. Walmart had a net margin of 2.77% and a return on equity of 18.47%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. Sell-side analysts expect that Walmart Inc will post 4.98 EPS for the current fiscal year.
In other news, EVP Marc E. Lore sold 85,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $115.91, for a total transaction of $9,852,350.00. Following the completion of the transaction, the executive vice president now owns 2,783,450 shares in the company, valued at $322,629,689.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Judith J. Mckenna sold 8,300 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $119.21, for a total transaction of $989,443.00. Following the transaction, the executive vice president now owns 216,811 shares of the company’s stock, valued at approximately $25,846,039.31. The disclosure for this sale can be found here. Insiders have sold 178,300 shares of company stock worth $21,090,243 over the last three months. 50.22% of the stock is owned by corporate insiders.
Walmart Company Profile
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, shoes.com, and samsclub.com; and mobile commerce applications.
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