Walmart Inc. (NYSE:WMT) Shares Sold by Summit Global Investments

Summit Global Investments reduced its stake in shares of Walmart Inc. (NYSE:WMT) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,238 shares of the retailer’s stock after selling 1,257 shares during the period. Summit Global Investments’ holdings in Walmart were worth $7,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Walmart by 199.4% in the 1st quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock worth $24,774,717,000 after acquiring an additional 274,229,968 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Walmart by 181.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after purchasing an additional 36,625,314 shares during the period. Norges Bank bought a new stake in Walmart during the fourth quarter valued at $3,674,652,000. Bank of New York Mellon Corp raised its holdings in shares of Walmart by 183.0% during the first quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock worth $1,755,339,000 after purchasing an additional 18,865,484 shares during the period. Finally, Raymond James & Associates lifted its position in shares of Walmart by 212.6% in the 1st quarter. Raymond James & Associates now owns 14,035,473 shares of the retailer’s stock worth $844,514,000 after buying an additional 9,544,958 shares during the last quarter. Institutional investors own 26.76% of the company’s stock.

Walmart Trading Up 1.1 %

Shares of Walmart stock traded up $0.84 on Tuesday, reaching $74.56. 14,423,731 shares of the company were exchanged, compared to its average volume of 17,599,436. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $74.75. The firm has a market capitalization of $599.73 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 4.04 and a beta of 0.50. The stock has a fifty day moving average price of $69.15 and a 200-day moving average price of $63.68.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. On average, analysts expect that Walmart Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WMT. DA Davidson increased their price objective on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America raised their price target on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. Tigress Financial upped their price objective on Walmart from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Barclays raised their target price on Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Guggenheim upped their price target on shares of Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart currently has an average rating of “Moderate Buy” and an average target price of $78.57.

Insider Transactions at Walmart

In related news, Director S Robson Walton sold 982,038 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $65.39, for a total transaction of $64,215,464.82. Following the transaction, the director now directly owns 644,511,850 shares of the company’s stock, valued at $42,144,629,871.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director S Robson Walton sold 982,038 shares of Walmart stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $65.39, for a total transaction of $64,215,464.82. Following the completion of the sale, the director now directly owns 644,511,850 shares in the company, valued at approximately $42,144,629,871.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $66.85, for a total transaction of $877,406.25. Following the transaction, the executive vice president now directly owns 658,665 shares in the company, valued at approximately $44,031,755.25. The disclosure for this sale can be found here. Insiders sold 10,970,613 shares of company stock valued at $723,987,410 over the last three months. 45.58% of the stock is owned by corporate insiders.

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.