Summit Financial Strategies Inc. Sells 711 Shares of Walmart Inc. (NYSE:WMT)

Summit Financial Strategies Inc. decreased its holdings in Walmart Inc. (NYSE:WMT) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,810 shares of the retailer’s stock after selling 711 shares during the quarter. Walmart accounts for approximately 0.8% of Summit Financial Strategies Inc.’s investment portfolio, making the stock its 19th biggest holding. Summit Financial Strategies Inc.’s holdings in Walmart were worth $7,663,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Walmart by 3.3% during the third quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock valued at $7,048,465,000 after purchasing an additional 2,786,061 shares in the last quarter. FMR LLC boosted its stake in shares of Walmart by 12.9% in the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock worth $5,098,203,000 after buying an additional 7,200,004 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Walmart by 4.6% in the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock valued at $3,848,533,000 after acquiring an additional 2,107,197 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Walmart by 3.7% during the third quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer’s stock valued at $3,392,658,000 after acquiring an additional 1,480,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Walmart by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,236,769 shares of the retailer’s stock worth $2,522,369,000 after acquiring an additional 350,881 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WMT shares. BMO Capital Markets upped their price objective on Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Tigress Financial lifted their price objective on shares of Walmart from $86.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. DZ Bank downgraded shares of Walmart from a “buy” rating to a “hold” rating and set a $91.00 target price for the company. in a research report on Thursday, November 21st. StockNews.com downgraded Walmart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Piper Sandler raised their target price on Walmart from $83.00 to $93.00 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.69.

Walmart Trading Down 0.0 %

Shares of WMT opened at $97.36 on Wednesday. Walmart Inc. has a 1-year low of $54.51 and a 1-year high of $97.84. The company has a market capitalization of $782.16 billion, a P/E ratio of 39.96, a P/E/G ratio of 4.42 and a beta of 0.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.23. The firm’s 50 day simple moving average is $92.29 and its 200 day simple moving average is $82.49.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $169.59 billion during 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 firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Sell-side analysts forecast that Walmart Inc. will post 2.48 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John D. Rainey sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $82.12, for a total value of $246,360.00. Following the completion of the sale, the executive vice president now owns 378,165 shares of the company’s stock, valued at approximately $31,054,909.80. This represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.44, for a total transaction of $2,663,098.56. Following the completion of the transaction, the chief executive officer now owns 3,814,805 shares in the company, valued at approximately $348,825,769.20. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,177 shares of company stock worth $12,895,688. 45.58% of the stock is currently owned by insiders.

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.