Gimbal Financial Decreases Stake in Walmart Inc. (NYSE:WMT)

Gimbal Financial lessened its stake in shares of Walmart Inc. (NYSE:WMT) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,524 shares of the retailer’s stock after selling 199 shares during the quarter. Walmart makes up approximately 0.4% of Gimbal Financial’s portfolio, making the stock its 22nd biggest position. Gimbal Financial’s holdings in Walmart were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Walmart by 199.4% in the 1st quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after purchasing an additional 274,229,968 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Walmart by 181.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock valued at $3,421,342,000 after buying an additional 36,625,314 shares in the last quarter. Norges Bank purchased a new stake in shares of Walmart in the 4th quarter worth about $3,674,652,000. Bank of New York Mellon Corp increased its stake in shares of Walmart by 183.0% in the 1st quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock worth $1,755,339,000 after acquiring an additional 18,865,484 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in Walmart by 212.6% during the first quarter. Raymond James & Associates now owns 14,035,473 shares of the retailer’s stock worth $844,514,000 after acquiring an additional 9,544,958 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Trading Up 0.4 %

Shares of NYSE:WMT traded up $0.29 during trading on Friday, reaching $67.95. The company’s stock had a trading volume of 13,805,576 shares, compared to its average volume of 17,333,506. The stock has a market capitalization of $546.56 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 3.90 and a beta of 0.50. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $71.33. The company has a current ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48. The firm’s 50 day simple moving average is $68.47 and its two-hundred day simple moving average is $62.82.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, May 16th. The retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. On average, research analysts predict that Walmart Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In other news, Director S Robson Walton sold 3,540,250 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $64.55, for a total value of $228,523,137.50. Following the transaction, the director now directly owns 648,504,011 shares in the company, valued at $41,860,933,910.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Alice L. Walton sold 1,132,123 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $65.02, for a total transaction of $73,610,637.46. Following the transaction, the insider now owns 647,371,888 shares in the company, valued at $42,092,120,157.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director S Robson Walton sold 3,540,250 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $64.55, for a total transaction of $228,523,137.50. Following the completion of the sale, the director now directly owns 648,504,011 shares of the company’s stock, valued at $41,860,933,910.05. The disclosure for this sale can be found here. Insiders sold 14,540,863 shares of company stock worth $954,455,147 over the last 90 days. Company insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler started coverage on shares of Walmart in a research note on Wednesday, July 10th. They set an “overweight” rating and a $81.00 price objective for the company. Stifel Nicolaus raised their price target on shares of Walmart from $69.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, July 2nd. Tigress Financial upped their price objective on Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Bank of America lifted their target price on Walmart from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, DA Davidson boosted their price target on Walmart from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.09.

About Walmart

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.