Walmart Inc. (NYSE:WMT) Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC cut its stake in Walmart Inc. (NYSE:WMT) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,857 shares of the retailer’s stock after selling 1,245 shares during the period. Walmart accounts for 0.8% of Summit Asset Management LLC’s portfolio, making the stock its 22nd largest position. Summit Asset Management LLC’s holdings in Walmart were worth $4,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Oxbow Advisors LLC raised its holdings in shares of Walmart by 45.0% during the third quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock worth $2,298,000 after purchasing an additional 8,834 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Walmart by 21.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 587,001 shares of the retailer’s stock valued at $47,400,000 after buying an additional 105,430 shares during the last quarter. Whalerock Point Partners LLC boosted its stake in Walmart by 213.5% in the first quarter. Whalerock Point Partners LLC now owns 29,613 shares of the retailer’s stock valued at $1,782,000 after acquiring an additional 20,167 shares during the period. WFA Asset Management Corp grew its holdings in shares of Walmart by 201.0% during the first quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after purchasing an additional 1,397 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Walmart by 14.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock worth $503,517,000 after purchasing an additional 809,352 shares during the period. 26.76% of the stock is owned by institutional investors and hedge funds.

Walmart Trading Up 0.6 %

NYSE WMT opened at $85.54 on Thursday. The firm’s 50 day moving average price is $80.82 and its two-hundred day moving average price is $72.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $85.79. The stock has a market cap of $687.59 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 4.25 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. Walmart’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Walmart Inc. will post 2.44 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Walmart from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. TD Cowen increased their price objective on shares of Walmart from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Tigress Financial boosted their target price on shares of Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Finally, UBS Group lifted their price target on Walmart from $81.00 to $92.00 and gave the company a “buy” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Walmart currently has an average rating of “Buy” and a consensus target price of $84.84.

Insider Activity

In other Walmart news, major shareholder Alice L. Walton sold 2,375,563 shares of Walmart stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the completion of the sale, the insider now owns 619,646,544 shares of the company’s stock, valued at $47,687,998,026.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the transaction, the insider now owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the completion of the sale, the insider now owns 619,646,544 shares of the company’s stock, valued at $47,687,998,026.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,337,337 shares of company stock worth $958,823,647 in the last 90 days. Company 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.