Miracle Mile Advisors LLC Sells 3,062 Shares of Walmart Inc. (NYSE:WMT)

Miracle Mile Advisors LLC lessened its holdings in shares of Walmart Inc. (NYSE:WMT) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,266 shares of the retailer’s stock after selling 3,062 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Walmart were worth $2,122,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Northwest Capital Management Inc raised its holdings in shares of Walmart by 199.3% in the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after acquiring an additional 293 shares during the last quarter. Partnership Wealth Management LLC bought a new stake in Walmart during the 4th quarter worth approximately $30,000. Able Wealth Management LLC purchased a new stake in shares of Walmart in the fourth quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Walmart in the fourth quarter valued at approximately $32,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of Walmart during the fourth quarter valued at approximately $35,000. 26.76% of the stock is owned by institutional investors.

Walmart Stock Up 0.9 %

WMT stock opened at $68.07 on Wednesday. The stock has a 50-day simple moving average of $64.22 and a two-hundred day simple moving average of $59.53. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $69.04. The firm has a market capitalization of $547.52 billion, a PE ratio of 29.13, a PEG ratio of 3.91 and a beta of 0.50. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48.

Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $161.50 billion during the quarter, compared to analyst estimates of $159.57 billion. Walmart had a net margin of 2.88% and a return on equity of 21.57%. Walmart’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. On average, equities analysts predict that Walmart Inc. will post 2.42 EPS for the current fiscal year.

Insider Activity

In related news, EVP John D. Rainey sold 25,578 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $67.58, for a total value of $1,728,561.24. Following the sale, the executive vice president now owns 390,165 shares in the company, valued at $26,367,350.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP John R. Furner sold 13,125 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $68.20, for a total transaction of $895,125.00. Following the completion of the transaction, the executive vice president now owns 645,540 shares of the company’s stock, valued at $44,025,828. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 25,578 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $67.58, for a total transaction of $1,728,561.24. Following the completion of the transaction, the executive vice president now owns 390,165 shares in the company, valued at $26,367,350.70. The disclosure for this sale can be found here. Insiders sold 14,525,340 shares of company stock worth $953,023,399 in the last three months. Corporate insiders own 45.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WMT shares. The Goldman Sachs Group increased their price target on Walmart from $64.33 to $73.00 and gave the company a “buy” rating in a research report on Friday, May 17th. HSBC raised their price target on shares of Walmart from $70.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Truist Financial upped their price objective on shares of Walmart from $60.00 to $64.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. raised shares of Walmart from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $66.00 to $81.00 in a research report on Monday, June 10th. Finally, Robert W. Baird increased their price target on Walmart from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.47.

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.