Fulcrum Equity Management lowered its position in Walmart Inc. (NYSE:WMT) by 2.6% in the first quarter, HoldingsChannel.com reports. The fund owned 4,329 shares of the retailer’s stock after selling 116 shares during the quarter. Fulcrum Equity Management’s holdings in Walmart were worth $588,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Greenhouse Wealth Management LLC bought a new position in Walmart in the 4th quarter worth approximately $26,000. Black Swift Group LLC bought a new stake in shares of Walmart during the 4th quarter valued at $26,000. Albion Financial Group UT bought a new stake in shares of Walmart during the 4th quarter valued at $27,000. ShoreHaven Wealth Partners LLC bought a new stake in shares of Walmart during the 4th quarter valued at $29,000. Finally, Perennial Advisors LLC bought a new stake in shares of Walmart during the 4th quarter valued at $32,000. Institutional investors own 29.34% of the company’s stock.
In related news, major shareholder Alice L. Walton sold 710,440 shares of Walmart stock in a transaction on Friday, February 26th. The shares were sold at an average price of $130.64, for a total transaction of $92,811,881.60. Following the completion of the transaction, the insider now owns 21,748,580 shares of the company’s stock, valued at $2,841,234,491.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Randall L. Stephenson purchased 7,725 shares of the firm’s stock in a transaction on Monday, March 8th. The stock was bought at an average cost of $129.63 per share, with a total value of $1,001,391.75. Following the completion of the purchase, the director now owns 8,308 shares of the company’s stock, valued at approximately $1,076,966.04. The disclosure for this purchase can be found here. Insiders have sold 2,035,000 shares of company stock valued at $267,991,487 in the last three months. 50.43% of the stock is owned by insiders.
Walmart (NYSE:WMT) last released its quarterly earnings results on Thursday, February 18th. The retailer reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.12). Walmart had a net margin of 3.30% and a return on equity of 19.13%. The business had revenue of $152.08 billion for the quarter, compared to the consensus estimate of $148.52 billion. During the same period in the previous year, the business posted $1.38 EPS. As a group, equities research analysts expect that Walmart Inc. will post 5.35 EPS for the current fiscal year.
Walmart announced that its board has authorized a stock repurchase plan on Thursday, February 18th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the retailer to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Friday, December 10th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, December 9th. Walmart’s dividend payout ratio is presently 44.62%.
WMT has been the subject of several recent research reports. Raymond James dropped their target price on shares of Walmart from $165.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, February 25th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Walmart from $170.00 to $166.00 and set a “buy” rating for the company in a report on Friday, February 19th. Royal Bank of Canada set a $162.00 target price on shares of Walmart and gave the stock a “buy” rating in a research note on Friday, February 19th. Morgan Stanley reduced their target price on shares of Walmart from $156.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, February 25th. Finally, MKM Partners reduced their price objective on shares of Walmart from $154.00 to $141.00 in a research note on Tuesday, March 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $154.11.
Walmart Inc engages in the retail and wholesale operations in various formats worldwide. The company operates in 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; ecommerce websites, such as walmart.com, walmart.com.mx, asda.com, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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