Fortis Advisors LLC Cuts Position in Walmart Inc. (NYSE:WMT)

Fortis Advisors LLC reduced its position in Walmart Inc. (NYSE:WMT) by 35.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,070 shares of the retailer’s stock after selling 1,655 shares during the period. Fortis Advisors LLC’s holdings in Walmart were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in shares of Walmart in the fourth quarter valued at about $252,000. LaFleur & Godfrey LLC grew its position in Walmart by 1.4% in the fourth quarter. LaFleur & Godfrey LLC now owns 69,542 shares of the retailer’s stock valued at $6,283,000 after acquiring an additional 992 shares in the last quarter. Eagle Capital Management LLC raised its stake in shares of Walmart by 9.1% during the fourth quarter. Eagle Capital Management LLC now owns 3,861 shares of the retailer’s stock valued at $349,000 after purchasing an additional 321 shares during the period. Brighton Jones LLC lifted its position in shares of Walmart by 28.8% during the fourth quarter. Brighton Jones LLC now owns 98,150 shares of the retailer’s stock worth $8,868,000 after purchasing an additional 21,939 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Walmart in the fourth quarter valued at $10,645,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Stock Down 0.7%

WMT opened at $94.20 on Monday. The stock’s 50 day moving average price is $95.79 and its 200 day moving average price is $94.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23. The stock has a market cap of $751.76 billion, a P/E ratio of 39.09, a P/E/G ratio of 4.42 and a beta of 0.69. Walmart Inc. has a 12 month low of $66.41 and a 12 month high of $105.30.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The company 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%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. As a group, research analysts predict that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Announces Dividend

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. The ex-dividend date was Friday, May 9th. This represents a yield of 0.95%. Walmart’s dividend payout ratio (DPR) is 40.17%.

Analyst Ratings Changes

A number of brokerages have commented on WMT. Raymond James cut their price objective on shares of Walmart from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Walmart in a research note on Monday, May 5th. Evercore ISI raised their price objective on Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Oppenheimer upped their target price on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Roth Mkm reissued a “buy” rating and set a $108.00 price target (up previously from $97.00) on shares of Walmart in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart has a consensus rating of “Moderate Buy” and a consensus price target of $106.50.

Insider Buying and Selling at Walmart

In related news, EVP John D. Rainey sold 2,200 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $99.00, for a total transaction of $217,800.00. Following the completion of the sale, the executive vice president now directly owns 630,518 shares of the company’s stock, valued at $62,421,282. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn J. Mclay sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $85.95, for a total transaction of $343,800.00. Following the sale, the executive vice president now owns 888,309 shares of the company’s stock, valued at $76,350,158.55. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,534 shares of company stock valued at $12,833,664. 45.58% of the stock is owned by corporate insiders.

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.