Patriot Investment Management Group Inc. Has $1 Million Stock Position in Walmart Inc. (NYSE:WMT)

Patriot Investment Management Group Inc. cut its stake in shares of Walmart Inc. (NYSE:WMT) by 15.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,787 shares of the retailer’s stock after selling 2,709 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Walmart were worth $1,001,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in shares of Walmart in the first quarter valued at approximately $25,000. Northwest Capital Management Inc boosted its holdings in Walmart by 199.3% during the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after purchasing an additional 293 shares during the last quarter. Partnership Wealth Management LLC bought a new stake in Walmart in the 4th quarter worth about $30,000. Able Wealth Management LLC purchased a new stake in Walmart in the 4th quarter valued at about $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in shares of Walmart in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WMT shares. Evercore ISI upped their price objective on Walmart from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Citigroup lifted their price objective on shares of Walmart from $63.33 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Bank of America raised their price target on shares of Walmart from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. TD Cowen increased their price objective on Walmart from $68.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, DA Davidson boosted their target price on Walmart from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.49.

Insider Buying and Selling

In other Walmart news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 387,165 shares in the company, valued at approximately $26,787,946.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Walmart news, EVP John D. Rainey sold 3,000 shares of the 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 completion of the transaction, the executive vice president now owns 387,165 shares in the company, valued at $26,787,946.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 1,132,123 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 647,371,888 shares in the company, valued at approximately $42,092,120,157.76. The disclosure for this sale can be found here. Insiders have sold 14,540,863 shares of company stock valued at $954,455,147 over the last ninety days. 45.58% of the stock is owned by insiders.

Walmart Price Performance

WMT stock traded up $0.75 during mid-day trading on Monday, hitting $68.70. 17,362,991 shares of the stock were exchanged, compared to its average volume of 17,333,799. The stock has a market capitalization of $552.59 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 3.91 and a beta of 0.50. The business has a fifty day moving average price of $68.47 and a 200 day moving average price of $62.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.80 and a quick ratio of 0.23. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $71.33.

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