Means Investment CO. Inc. Reduces Position in Walmart Inc. (NYSE:WMT)

Means Investment CO. Inc. cut its position in shares of Walmart Inc. (NYSE:WMT) by 25.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,866 shares of the retailer’s stock after selling 17,496 shares during the period. Means Investment CO. Inc.’s holdings in Walmart were worth $4,553,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in Walmart during the 4th quarter valued at about $25,000. Horizon Financial Services LLC lifted 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 buying an additional 262 shares in the last quarter. Noble Wealth Management PBC bought a new stake in Walmart during the 4th quarter valued at about $37,000. Mizuho Bank Ltd. bought a new stake in Walmart during the 4th quarter valued at about $41,000. Finally, Nexus Investment Management ULC bought a new stake in Walmart during the 1st quarter valued at about $49,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WMT has been the subject of a number of research analyst reports. Citigroup reiterated a “buy” rating on shares of Walmart in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Walmart from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Oppenheimer lifted their price objective on shares of Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Truist Financial boosted their price target on shares of Walmart from $107.00 to $111.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $103.00 price target (up previously from $102.00) on shares of Walmart in a report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Walmart Stock Up 0.9%

Shares of Walmart stock opened at $95.10 on Friday. The firm’s 50 day moving average price is $96.32 and its 200-day moving average price is $94.13. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. Walmart Inc. has a 52-week low of $66.55 and a 52-week high of $105.30. The company has a market cap of $758.95 billion, a P/E ratio of 40.64, a PEG ratio of 4.64 and a beta of 0.69.

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

Walmart Dividend Announcement

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

Insiders Place Their Bets

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the sale, the chief executive officer now owns 3,972,517 shares of the company’s stock, valued at approximately $340,166,630.71. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel J. Bartlett sold 1,760 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $94.77, for a total transaction of $166,795.20. Following the completion of the sale, the executive vice president now directly owns 650,977 shares in the company, valued at $61,693,090.29. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,294 shares of company stock valued at $12,656,659. Insiders own 45.58% of the company’s stock.

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.