Lord Abbett & CO. LLC Sells 74,365 Shares of Walmart Inc. (NYSE:WMT)

Lord Abbett & CO. LLC lowered its position in shares of Walmart Inc. (NYSE:WMT) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,728,887 shares of the retailer’s stock after selling 74,365 shares during the period. Walmart comprises about 0.9% of Lord Abbett & CO. LLC’s holdings, making the stock its 16th largest holding. Lord Abbett & CO. LLC’s holdings in Walmart were worth $301,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Financial Wealth Advisors LLC boosted its stake in shares of Walmart by 0.5% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock valued at $1,915,000 after purchasing an additional 118 shares in the last quarter. Providence Wealth Advisors LLC raised its holdings in shares of Walmart by 0.3% during the third quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer’s stock valued at $3,591,000 after acquiring an additional 122 shares in the last quarter. 3Chopt Investment Partners LLC raised its holdings in shares of Walmart by 0.4% during the third quarter. 3Chopt Investment Partners LLC now owns 32,633 shares of the retailer’s stock valued at $2,635,000 after acquiring an additional 124 shares in the last quarter. CAP Partners LLC boosted its holdings in Walmart by 2.1% in the third quarter. CAP Partners LLC now owns 6,054 shares of the retailer’s stock valued at $489,000 after acquiring an additional 125 shares in the last quarter. Finally, Investment Advisory Group LLC increased its position in Walmart by 2.1% during the 3rd quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock valued at $499,000 after purchasing an additional 126 shares during the period. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Walmart from $78.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group lifted their price objective on Walmart from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Telsey Advisory Group increased their price objective on Walmart from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Tigress Financial raised their target price on shares of Walmart from $86.00 to $115.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada lifted their price target on Walmart from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.33.

Insider Buying and Selling

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $80.64, for a total value of $2,348,559.36. Following the transaction, the chief executive officer now owns 3,873,053 shares of the company’s stock, valued at approximately $312,322,993.92. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder S Robson Walton sold 359,616 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $78.25, for a total transaction of $28,139,952.00. Following the transaction, the insider now owns 603,989,702 shares of the company’s stock, valued at approximately $47,262,194,181.50. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,309,091 shares of company stock valued at $183,375,539. Company insiders own 45.58% of the company’s stock.

Walmart Stock Performance

NYSE:WMT opened at $94.26 on Friday. The stock has a 50-day simple moving average of $86.10 and a two-hundred day simple moving average of $76.94. The firm has a market capitalization of $757.19 billion, a PE ratio of 38.68, a P/E/G ratio of 4.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.85. Walmart Inc. has a 52-week low of $50.51 and a 52-week high of $96.18.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Analysts forecast that Walmart Inc. will post 2.47 EPS for the current year.

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.