Tritonpoint Wealth LLC Reduces Stock Holdings in Walmart Inc. (NYSE:WMT)

Tritonpoint Wealth LLC reduced its stake in shares of Walmart Inc. (NYSE:WMT) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,501 shares of the retailer’s stock after selling 1,055 shares during the quarter. Walmart accounts for approximately 1.2% of Tritonpoint Wealth LLC’s holdings, making the stock its 18th largest holding. Tritonpoint Wealth LLC’s holdings in Walmart were worth $12,720,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Walmart during the 4th quarter valued at about $25,000. Horizon Financial Services LLC increased its holdings in Walmart by 1,007.7% during the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after purchasing an additional 262 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in Walmart during the 4th quarter worth approximately $37,000. Mizuho Bank Ltd. purchased a new stake in Walmart during the 4th quarter worth approximately $41,000. Finally, Nexus Investment Management ULC purchased a new stake in Walmart during the 1st quarter worth approximately $49,000. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Walmart Stock Down 0.7%

Shares of Walmart stock opened at $94.20 on Friday. The stock’s fifty day moving average is $95.79 and its 200-day moving average is $94.06. The firm has a market capitalization of $751.76 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. Walmart Inc. has a 12-month low of $66.30 and a 12-month high of $105.30.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. Walmart’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. Equities analysts anticipate that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stifel Nicolaus dropped their price objective on Walmart from $93.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Walmart in a report on Wednesday, March 26th. Citigroup restated a “buy” rating on shares of Walmart in a report on Tuesday, May 6th. Roth Mkm reiterated a “buy” rating and issued a $108.00 price target (up from $97.00) on shares of Walmart in a report on Friday, February 21st. Finally, Wall Street Zen upgraded Walmart from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.50.

Insiders Place Their Bets

In other news, EVP John D. Rainey sold 2,200 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $88.66, for a total transaction of $195,052.00. Following the transaction, the executive vice president now owns 398,024 shares of the company’s stock, valued at approximately $35,288,807.84. This represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $85.63, for a total value of $2,493,888.12. Following the transaction, the chief executive officer now directly owns 3,972,517 shares in the company, valued at approximately $340,166,630.71. This represents a 0.73% decrease in their position. 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 in the last three months. 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.