Frank Rimerman Advisors LLC Lowers Holdings in Walmart Inc. (NYSE:WMT)

Frank Rimerman Advisors LLC trimmed its stake in Walmart Inc. (NYSE:WMT) by 11.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,755 shares of the retailer’s stock after selling 7,368 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Walmart were worth $4,583,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Liberty Wealth Management LLC purchased a new stake in Walmart during the 1st quarter valued at about $270,000. Commerce Bank grew its holdings in shares of Walmart by 189.4% during the first quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock valued at $55,213,000 after buying an additional 600,521 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Walmart by 290.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock valued at $16,250,000 after acquiring an additional 200,947 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Walmart by 189.4% during the first quarter. Private Advisor Group LLC now owns 643,848 shares of the retailer’s stock valued at $38,740,000 after acquiring an additional 421,366 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC purchased a new position in Walmart in the 1st quarter worth approximately $723,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WMT. Bank of America increased their target price on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (up from $81.00) on shares of Walmart in a report on Friday, August 16th. Jefferies Financial Group upped their target price on shares of Walmart from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Redburn Atlantic raised shares of Walmart to a “strong-buy” rating in a report on Monday, September 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of Walmart in a report on Tuesday, October 22nd. They set an “outperform” rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $83.51.

Insider Buying and Selling at Walmart

In other Walmart news, major shareholder Alice L. Walton sold 2,709,163 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the completion of the transaction, the insider now owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $82.79, for a total value of $2,411,175.96. Following the sale, the chief executive officer now owns 3,843,929 shares in the company, valued at approximately $318,238,881.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Alice L. Walton sold 2,709,163 shares of Walmart stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the completion of the transaction, the insider now directly owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,337,337 shares of company stock worth $958,784,857. Insiders own 45.58% of the company’s stock.

Walmart Price Performance

Shares of Walmart stock opened at $82.51 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $83.34. The stock’s 50-day simple moving average is $79.09 and its 200-day simple moving average is $70.40. The company has a market capitalization of $663.67 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 4.11 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, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $169.30 billion during the quarter, compared to the consensus estimate of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. As a group, analysts expect that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

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.