Prio Wealth Limited Partnership Sells 153,042 Shares of Walmart Inc. (NYSE:WMT)

Prio Wealth Limited Partnership cut its stake in Walmart Inc. (NYSE:WMT) by 10.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,266,361 shares of the retailer’s stock after selling 153,042 shares during the quarter. Walmart comprises approximately 2.6% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 8th biggest position. Prio Wealth Limited Partnership’s holdings in Walmart were worth $85,745,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in shares of Walmart by 3.7% during the 4th quarter. Jones Financial Companies Lllp now owns 13,185 shares of the retailer’s stock worth $2,079,000 after buying an additional 474 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Walmart by 4.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 291,016 shares of the retailer’s stock worth $45,879,000 after acquiring an additional 12,362 shares during the last quarter. First Trust Advisors LP increased its stake in Walmart by 27.5% during the fourth quarter. First Trust Advisors LP now owns 1,550,851 shares of the retailer’s stock worth $244,492,000 after acquiring an additional 334,100 shares during the last quarter. Gordian Advisors LLC purchased a new stake in Walmart in the fourth quarter valued at $232,000. Finally, Amussen Hunsaker Associates LLC lifted its stake in shares of Walmart by 0.5% in the 4th quarter. Amussen Hunsaker Associates LLC now owns 15,979 shares of the retailer’s stock valued at $2,519,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insider Activity

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $69.19, for a total value of $207,570.00. Following the completion of the sale, the executive vice president now directly owns 387,165 shares of the company’s stock, valued at $26,787,946.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $69.19, for a total transaction of $207,570.00. Following the sale, the executive vice president now owns 387,165 shares in the company, valued at $26,787,946.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total value of $209,607,941.31. Following the completion of the sale, the insider now directly owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,334,670 shares of company stock worth $958,025,027. Corporate insiders own 45.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WMT shares. BMO Capital Markets reissued an “outperform” rating and set a $80.00 price objective on shares of Walmart in a research report on Friday, August 16th. Evercore ISI lifted their price target on shares of Walmart from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. HSBC lifted their target price on shares of Walmart from $70.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, Barclays upped their price target on Walmart from $66.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Walmart presently has a consensus rating of “Buy” and a consensus target price of $81.62.

Walmart Stock Performance

Shares of WMT stock opened at $81.27 on Wednesday. The company has a market cap of $653.27 billion, a P/E ratio of 34.78, a PEG ratio of 4.00 and a beta of 0.51. The firm has a fifty day moving average price of $74.86 and a 200 day moving average price of $67.85. 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 12 month low of $49.85 and a 12 month high of $81.60.

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

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.