Advocate Group LLC Sells 367 Shares of Walmart Inc. (NYSE:WMT)

Advocate Group LLC decreased its stake in Walmart Inc. (NYSE:WMT) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,225 shares of the retailer’s stock after selling 367 shares during the period. Advocate Group LLC’s holdings in Walmart were worth $2,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. USA Financial Formulas lifted its stake in Walmart by 18.2% during the third quarter. USA Financial Formulas now owns 14,755 shares of the retailer’s stock worth $1,191,000 after purchasing an additional 2,276 shares during the last quarter. High Note Wealth LLC raised its holdings in shares of Walmart by 0.8% during the 3rd quarter. High Note Wealth LLC now owns 62,182 shares of the retailer’s stock valued at $5,021,000 after buying an additional 496 shares in the last quarter. Enterprise Bank & Trust Co boosted its stake in Walmart by 6.1% in the third quarter. Enterprise Bank & Trust Co now owns 5,208 shares of the retailer’s stock worth $421,000 after buying an additional 300 shares in the last quarter. Sanibel Captiva Trust Company Inc. grew its position in Walmart by 5.0% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 149,892 shares of the retailer’s stock valued at $12,104,000 after acquiring an additional 7,159 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in shares of Walmart by 4.3% during the third quarter. Wedmont Private Capital now owns 55,842 shares of the retailer’s stock worth $4,417,000 after acquiring an additional 2,320 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WMT. BMO Capital Markets reiterated an “outperform” rating and issued a $80.00 target price on shares of Walmart in a research report on Friday, August 16th. Tigress Financial lifted their price objective on Walmart from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and increased their target price for the company from $76.00 to $89.00 in a report on Tuesday, September 24th. Jefferies Financial Group lifted their price target on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI increased their price objective on Walmart from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $81.96.

Insiders Place Their Bets

In other news, EVP John D. Rainey sold 3,000 shares of the company’s stock in a transaction that occurred 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 owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 387,165 shares of the company’s stock, valued at $26,787,946.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel J. Bartlett sold 2,398 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was 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 approximately $32,239,034.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,337,670 shares of company stock worth $958,267,937 in the last three months. Corporate insiders own 45.58% of the company’s stock.

Walmart Trading Down 0.3 %

Shares of Walmart stock traded down $0.26 on Thursday, hitting $80.14. 1,237,025 shares of the company traded hands, compared to its average volume of 17,273,332. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $81.60. The company has a market cap of $644.61 billion, a PE ratio of 34.37, a PEG ratio of 4.05 and a beta of 0.51. The stock’s 50 day moving average price is $76.12 and its 200-day moving average price is $68.61. 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 (NYSE:WMT) last issued its 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 analysts’ expectations of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The business’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 business earned $0.61 EPS. Equities research analysts predict that Walmart Inc. will post 2.44 EPS for the current 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.