Rakuten Securities Inc. Cuts Stake in Walmart Inc. (NYSE:WMT)

Rakuten Securities Inc. lessened its holdings in Walmart Inc. (NYSE:WMT) by 18.2% during the first quarter, Holdings Channel.com reports. The firm owned 3,811 shares of the retailer’s stock after selling 850 shares during the quarter. Rakuten Securities Inc.’s holdings in Walmart were worth $335,000 at the end of the most recent quarter.

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

Walmart Stock Down 0.1%

NYSE:WMT opened at $94.24 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22. The firm’s 50-day moving average price is $96.13 and its 200-day moving average price is $94.11. The company has a market capitalization of $752.04 billion, a PE ratio of 40.27, a P/E/G ratio of 4.60 and a beta of 0.69. Walmart Inc. has a 1-year low of $66.55 and a 1-year high of $105.30.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The business had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 12th were paid 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 payout ratio is currently 40.17%.

Insider Activity at Walmart

In other news, EVP Daniel J. Bartlett sold 1,760 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $94.82, for a total transaction of $166,883.20. Following the sale, the executive vice president now owns 520,275 shares in the company, valued at $49,332,475.50. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $88.66, for a total transaction of $195,052.00. Following the sale, the executive vice president now directly owns 398,024 shares of the company’s stock, valued at $35,288,807.84. This trade represents a 0.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,294 shares of company stock valued at $12,656,659 in the last 90 days. Corporate insiders own 45.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Roth Mkm reiterated a “buy” rating and set a $108.00 price target (up from $97.00) on shares of Walmart in a report on Friday, February 21st. Evercore ISI increased their price target on shares of Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Mizuho raised their price target on shares of Walmart from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, June 9th. Finally, Raymond James Financial decreased their price objective on shares of Walmart from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.50.

Walmart Company 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.