Sound Income Strategies LLC Sells 1,197 Shares of Walmart Inc. (NYSE:WMT)

Sound Income Strategies LLC trimmed its holdings in Walmart Inc. (NYSE:WMT) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,612 shares of the retailer’s stock after selling 1,197 shares during the period. Sound Income Strategies LLC’s holdings in Walmart were worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Walmart by 199.4% in the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock worth $24,774,717,000 after purchasing an additional 274,229,968 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 acquiring an additional 36,625,314 shares in the last quarter. Legal & General Group Plc boosted its holdings in Walmart by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock worth $2,456,704,000 after acquiring an additional 644,353 shares during the last quarter. Raymond James & Associates grew its stake in shares of Walmart by 16.0% in the 2nd quarter. Raymond James & Associates now owns 16,282,129 shares of the retailer’s stock worth $1,102,463,000 after acquiring an additional 2,246,656 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Walmart by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 16,184,945 shares of the retailer’s stock valued at $1,095,946,000 after purchasing an additional 834,005 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Price Performance

Shares of WMT stock traded up $0.49 on Friday, reaching $80.10. The company’s stock had a trading volume of 9,570,734 shares, compared to its average volume of 16,313,674. The company has a market capitalization of $643.86 billion, a P/E ratio of 41.65, a PEG ratio of 3.99 and a beta of 0.51. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $81.60. The stock’s 50 day simple moving average is $76.55 and its 200-day simple moving average is $68.88. 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 (NYSE:WMT) last released its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. As a group, equities analysts predict that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Guggenheim upped their price objective on shares of Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Citigroup increased their price target on Walmart from $75.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, September 27th. The Goldman Sachs Group boosted their price objective on Walmart from $73.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Melius Research started coverage on Walmart in a research report on Monday, September 23rd. They set a “buy” rating and a $95.00 target price for the company. Finally, Jefferies Financial Group boosted their price target on shares of Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Walmart has an average rating of “Buy” and an average target price of $82.32.

Insider Transactions at Walmart

In related news, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the transaction, the insider now owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.60, for a total transaction of $926,625.00. Following the transaction, the executive vice president now directly owns 632,415 shares of the company’s stock, valued at approximately $44,648,499. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the completion of the sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,337,670 shares of company stock valued at $958,267,937. Insiders own 45.58% of the company’s stock.

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.