Palisade Asset Management LLC cut its stake in Walmart Inc (NYSE:WMT) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,197 shares of the retailer’s stock after selling 255 shares during the period. Palisade Asset Management LLC’s holdings in Walmart were worth $2,068,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Ipswich Investment Management Co. Inc. acquired a new position in Walmart in the fourth quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new position in Walmart in the fourth quarter valued at approximately $41,000. Cornerstone Advisors Inc. lifted its stake in Walmart by 32.1% in the third quarter. Cornerstone Advisors Inc. now owns 906 shares of the retailer’s stock valued at $85,000 after buying an additional 220 shares during the period. ELM Advisors LLC acquired a new position in shares of Walmart during the third quarter worth approximately $152,000. Finally, Berman Capital Advisors LLC acquired a new position in shares of Walmart during the third quarter worth approximately $158,000. 29.08% of the stock is currently owned by hedge funds and other institutional investors.
In other Walmart news, Director S Robson Walton sold 298,726 shares of the firm’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $92.24, for a total value of $27,554,486.24. Following the completion of the transaction, the director now owns 3,347,254 shares in the company, valued at approximately $308,750,708.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 500 shares of the firm’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $92.00, for a total value of $46,000.00. Following the completion of the transaction, the insider now owns 7,183,580 shares of the company’s stock, valued at approximately $660,889,360. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,818,674 shares of company stock valued at $1,122,286,815. 51.11% of the stock is owned by corporate insiders.
Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, November 15th. The retailer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. The company had revenue of $124.89 billion during the quarter, compared to the consensus estimate of $124.86 billion. Walmart had a return on equity of 18.36% and a net margin of 1.01%. On average, equities analysts forecast that Walmart Inc will post 4.83 EPS for the current year.
A number of equities analysts have recently weighed in on WMT shares. Goldman Sachs Group reaffirmed a “neutral” rating and set a $100.00 target price on shares of Walmart in a research report on Wednesday, October 17th. JPMorgan Chase & Co. upped their target price on Walmart to $108.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th. Credit Suisse Group set a $103.00 price target on Walmart and gave the company a “hold” rating in a research report on Thursday, November 15th. MKM Partners lowered their price target on Walmart from $107.00 to $105.00 in a research report on Monday, October 22nd. Finally, KeyCorp increased their price target on Walmart from $107.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $104.77.
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Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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