Rockland Trust Co. Has $9.75 Million Holdings in Walmart Inc. (NYSE:WMT)

Rockland Trust Co. trimmed its position in Walmart Inc. (NYSE:WMT) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,775 shares of the retailer’s stock after selling 15,868 shares during the quarter. Rockland Trust Co.’s holdings in Walmart were worth $9,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WMT. Duncan Williams Asset Management LLC boosted its position in shares of Walmart by 23.5% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 10,804 shares of the retailer’s stock valued at $872,000 after acquiring an additional 2,058 shares in the last quarter. Private Client Services LLC lifted its holdings in Walmart by 3.2% during the 3rd quarter. Private Client Services LLC now owns 7,421 shares of the retailer’s stock valued at $599,000 after purchasing an additional 229 shares during the last quarter. Dominguez Wealth Management Solutions Inc. boosted its position in Walmart by 13.1% in the third quarter. Dominguez Wealth Management Solutions Inc. now owns 5,636 shares of the retailer’s stock valued at $455,000 after buying an additional 654 shares in the last quarter. Apella Capital LLC grew its stake in Walmart by 5.0% during the third quarter. Apella Capital LLC now owns 7,548 shares of the retailer’s stock worth $607,000 after buying an additional 358 shares during the last quarter. Finally, Wiser Wealth Management Inc acquired a new stake in shares of Walmart during the third quarter worth approximately $247,000. 26.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Walmart from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Bank of America raised 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 set a $83.00 price target (up previously from $81.00) on shares of Walmart in a research report on Friday, August 16th. Evercore ISI increased their price objective on shares of Walmart from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Tigress Financial raised their price objective on shares of Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $81.62.

Walmart Price Performance

Walmart stock opened at $80.43 on Friday. 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 1-year low of $49.85 and a 1-year high of $81.60. The company has a fifty day simple moving average of $75.26 and a 200 day simple moving average of $68.03. The company has a market cap of $646.52 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 4.03 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $169.30 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. Research analysts anticipate that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Activity

In other Walmart news, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Walmart news, EVP Daniel J. Bartlett sold 2,398 shares of Walmart stock in a transaction on Monday, July 15th. The shares were sold at an average price of $69.50, for a total transaction of $166,661.00. Following the completion of the transaction, the executive vice president now directly owns 463,871 shares of the company’s stock, valued at $32,239,034.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the completion of the transaction, the insider now directly owns 611,988,318 shares in the company, valued at $47,245,498,149.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,337,670 shares of company stock valued at $958,267,937. 45.58% of the stock is owned by 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.