Bessemer Group Inc. Sells 1,258,488 Shares of Walmart Inc. (NYSE:WMT)

Bessemer Group Inc. reduced its holdings in shares of Walmart Inc. (NYSE:WMT) by 19.3% in the first quarter, HoldingsChannel.com reports. The fund owned 5,267,626 shares of the retailer’s stock after selling 1,258,488 shares during the quarter. Walmart accounts for 0.8% of Bessemer Group Inc.’s holdings, making the stock its 27th biggest position. Bessemer Group Inc.’s holdings in Walmart were worth $462,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. World Investment Advisors boosted its holdings in shares of Walmart by 7.6% during the 4th quarter. World Investment Advisors now owns 271,515 shares of the retailer’s stock worth $24,532,000 after buying an additional 19,233 shares in the last quarter. Candriam S.C.A. lifted its position in shares of Walmart by 209.7% during the 4th quarter. Candriam S.C.A. now owns 885,008 shares of the retailer’s stock valued at $79,960,000 after acquiring an additional 599,257 shares during the period. Modera Wealth Management LLC lifted its position in shares of Walmart by 4.8% during the 4th quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer’s stock valued at $18,355,000 after acquiring an additional 9,292 shares during the period. Cushing Capital Partners LLC bought a new position in Walmart during the fourth quarter worth $1,124,000. Finally, GWN Securities Inc. acquired a new stake in Walmart in the fourth quarter worth $4,658,000. 26.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial upped their price objective on shares of Walmart from $107.00 to $111.00 and gave the company a “buy” rating in a report on Friday, May 16th. Wall Street Zen upgraded Walmart from a “hold” rating to a “buy” rating in a report on Monday, May 12th. UBS Group decreased their price objective on Walmart from $112.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Oppenheimer lifted their price target on shares of Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $115.00 price target on shares of Walmart in a research note on Monday, June 9th. Two investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Walmart Stock Down 0.8%

WMT stock opened at $97.24 on Thursday. The stock has a market cap of $776.02 billion, a P/E ratio of 41.56, a P/E/G ratio of 4.78 and a beta of 0.69. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $96.65 and its two-hundred day simple moving average is $94.20. Walmart Inc. has a 1-year low of $66.67 and a 1-year high of $105.30.

Walmart (NYSE:WMT) last released its earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Analysts expect that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

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

Insider Transactions at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $94.19, for a total transaction of $2,743,189.56. Following the completion of the transaction, the chief executive officer now owns 4,480,347 shares in the company, valued at approximately $422,003,883.93. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,760 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $94.82, for a total value of $166,883.20. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 123,295 shares of company stock worth $11,801,762 in the last quarter. 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.