Forum Financial Management LP Sells 1,030 Shares of Walmart Inc. (NYSE:WMT)

Forum Financial Management LP decreased its holdings in Walmart Inc. (NYSE:WMT) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 74,070 shares of the retailer’s stock after selling 1,030 shares during the period. Forum Financial Management LP’s holdings in Walmart were worth $6,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Horizon Financial Services LLC boosted its holdings in shares of 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 in the last quarter. Bear Mountain Capital Inc. lifted its holdings in Walmart by 98.2% during the 1st quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer’s stock worth $32,000 after buying an additional 167 shares during the period. EQ Wealth Advisors LLC acquired a new position in Walmart during the 1st quarter worth about $35,000. Mizuho Bank Ltd. acquired a new position in Walmart during the 4th quarter worth about $41,000. Finally, Nexus Investment Management ULC acquired a new position in Walmart during the 1st quarter worth about $49,000. Institutional investors own 26.76% of the company’s stock.

Insider Activity

In related news, EVP John D. Rainey sold 2,200 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $98.44, for a total value of $216,568.00. Following the sale, the executive vice president owned 628,318 shares in the company, valued at approximately $61,851,623.92. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kathryn J. Mclay sold 4,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $95.24, for a total value of $380,960.00. Following the completion of the sale, the executive vice president owned 1,060,455 shares in the company, valued at $100,997,734.20. This trade represents a 0.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,951 shares of company stock valued at $13,543,436. 45.58% of the stock is currently owned by corporate insiders.

Walmart Stock Performance

WMT stock opened at $95.11 on Thursday. The firm has a market cap of $759.04 billion, a PE ratio of 40.65, a P/E/G ratio of 4.59 and a beta of 0.68. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $96.89 and a 200-day moving average of $94.56. Walmart Inc. has a 12-month low of $66.67 and a 12-month high of $105.30.

Walmart (NYSE:WMT) last released its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The company had revenue of $165.61 billion during the quarter, compared to analyst estimates of $164.53 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Walmart’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Walmart Inc. will post 2.55 earnings per share for the current 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. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WMT shares. Mizuho lifted their target price on Walmart from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, June 9th. KeyCorp boosted their price objective on Walmart from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Walmart in a research note on Friday, May 16th. Robert W. Baird boosted 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. Finally, Oppenheimer boosted 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. Two investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.67.

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.