New England Research & Management Inc. Sells 400 Shares of Walmart Inc. (NYSE:WMT)

New England Research & Management Inc. cut its position in shares of Walmart Inc. (NYSE:WMT) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,624 shares of the retailer’s stock after selling 400 shares during the period. New England Research & Management Inc.’s holdings in Walmart were worth $757,000 as of its most recent SEC filing.

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

Walmart Trading Down 0.7%

Shares of NYSE:WMT opened at $94.20 on Friday. Walmart Inc. has a 12-month low of $66.30 and a 12-month high of $105.30. The business’s fifty day simple moving average is $95.79 and its 200-day simple moving average is $94.06. The company has a market capitalization of $751.76 billion, a PE ratio of 39.09, a P/E/G ratio of 4.42 and a beta of 0.69. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40.

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

Walmart Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were issued a $0.235 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

WMT has been the subject of several analyst reports. Oppenheimer raised their price objective on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Barclays reaffirmed an “overweight” rating on shares of Walmart in a research note on Friday, February 28th. Raymond James lowered their price objective on Walmart from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Guggenheim reissued a “buy” rating and set a $100.00 price target on shares of Walmart in a research note on Monday, February 24th. Finally, Truist Financial raised their price target on Walmart from $107.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Insider Activity

In other news, EVP Kathryn J. Mclay sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $85.95, for a total value of $343,800.00. Following the completion of the sale, the executive vice president now owns 888,309 shares of the company’s stock, valued at $76,350,158.55. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $88.66, for a total value of $195,052.00. Following the completion of the sale, the executive vice president now directly owns 398,024 shares of the company’s stock, valued at $35,288,807.84. The trade was a 0.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,534 shares of company stock worth $12,833,664. 45.58% of the stock is currently owned by company insiders.

Walmart 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.