Selective Wealth Management Inc. Reduces Stock Holdings in Walmart Inc. (NYSE:WMT)

Selective Wealth Management Inc. trimmed its holdings in Walmart Inc. (NYSE:WMT) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,005 shares of the retailer’s stock after selling 272 shares during the period. Selective Wealth Management Inc.’s holdings in Walmart were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WMT. Greystone Financial Group LLC increased its stake in shares of Walmart by 1.1% during the 1st quarter. Greystone Financial Group LLC now owns 170,054 shares of the retailer’s stock worth $14,929,000 after purchasing an additional 1,793 shares in the last quarter. Courier Capital LLC lifted its holdings in Walmart by 2.3% in the 1st quarter. Courier Capital LLC now owns 79,398 shares of the retailer’s stock valued at $6,970,000 after purchasing an additional 1,791 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Walmart by 4.9% during the first quarter. Wesbanco Bank Inc. now owns 306,424 shares of the retailer’s stock valued at $26,901,000 after buying an additional 14,398 shares during the period. Sherman Asset Management Inc. boosted its position in Walmart by 3.4% during the first quarter. Sherman Asset Management Inc. now owns 7,743 shares of the retailer’s stock worth $680,000 after acquiring an additional 255 shares during the last quarter. Finally, Abacus Planning Group Inc. grew its stake in Walmart by 4.5% in the 1st quarter. Abacus Planning Group Inc. now owns 17,894 shares of the retailer’s stock worth $1,571,000 after acquiring an additional 778 shares during the period. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Roth Mkm reiterated a “buy” rating and issued a $108.00 target price (up from $97.00) on shares of Walmart in a research note on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $102.00 target price on shares of Walmart in a report on Friday, May 16th. DZ Bank upgraded Walmart from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Tuesday, February 25th. UBS Group reduced their price target on shares of Walmart from $112.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Evercore ISI raised their target price on shares of Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Walmart currently has an average rating of “Moderate Buy” and a consensus price target of $105.16.

Walmart Stock Down 0.5%

WMT stock opened at $97.46 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $94.71 and its 200 day simple moving average is $93.92. The stock has a market cap of $779.77 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69. Walmart Inc. has a fifty-two week low of $65.90 and a fifty-two week high of $105.30.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $165.61 billion during the quarter, compared to analyst estimates of $164.53 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. As a group, sell-side analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 12th were paid a dividend of $0.235 per share. The ex-dividend date was Friday, May 9th. This represents a yield of 0.95%. Walmart’s dividend payout ratio is currently 40.17%.

Insider Buying and Selling

In related news, CEO C Douglas Mcmillon sold 29,148 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total value of $2,815,113.84. Following the completion of the sale, the chief executive officer now owns 4,451,199 shares in the company, valued at approximately $429,896,799.42. This represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $99.00, for a total transaction of $217,800.00. Following the transaction, the executive vice president now owns 630,518 shares in the company, valued at approximately $62,421,282. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,534 shares of company stock valued at $12,833,664 over the last three months. Company insiders own 45.58% of the company’s stock.

Walmart Company 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.