Walmart Inc. (NYSE:WMT) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its stake in shares of Walmart Inc. (NYSE:WMT) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,649 shares of the retailer’s stock after selling 10,079 shares during the period. Pinnacle Associates Ltd.’s holdings in Walmart were worth $25,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Walmart during the 1st quarter worth approximately $25,000. Northwest Capital Management Inc raised its position in shares of Walmart by 199.3% during the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock valued at $26,000 after acquiring an additional 293 shares in the last quarter. TruNorth Capital Management LLC lifted its stake in Walmart by 138.3% during the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after purchasing an additional 249 shares during the last quarter. Cultivar Capital Inc. acquired a new position in Walmart in the second quarter worth $29,000. Finally, Partnership Wealth Management LLC bought a new stake in Walmart during the fourth quarter valued at $30,000. Institutional investors own 26.76% of the company’s stock.

Insider Activity at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the completion of the sale, the chief executive officer now owns 3,960,402 shares of the company’s stock, valued at $270,851,892.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $68.39, for a total value of $1,991,790.36. Following the sale, the chief executive officer now directly owns 3,960,402 shares of the company’s stock, valued at $270,851,892.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 3,633,800 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $66.80, for a total value of $242,737,840.00. Following the transaction, the insider now directly owns 636,898,811 shares of the company’s stock, valued at approximately $42,544,840,574.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,332,089 shares of company stock valued at $422,145,654. Corporate insiders own 45.58% of the company’s stock.

Analyst Upgrades and Downgrades

WMT has been the subject of several recent research reports. Guggenheim upped their target price on Walmart from $75.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 16th. Barclays boosted their target price on Walmart from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Jefferies Financial Group increased their price target on Walmart from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Truist Financial boosted their price objective on Walmart from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Roth Mkm raised their target price on Walmart from $71.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.64.

Walmart Stock Up 1.1 %

Shares of WMT traded up $0.81 during mid-day trading on Friday, hitting $77.23. 23,229,975 shares of the company’s stock were exchanged, compared to its average volume of 17,417,189. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $77.47. The firm has a fifty day moving average of $70.55 and a two-hundred day moving average of $64.67. The stock has a market cap of $621.20 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 3.81 and a beta of 0.50.

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

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.