Connective Portfolio Management LLC Lowers Stock Position in Walmart Inc. (NYSE:WMT)

Connective Portfolio Management LLC lessened its stake in Walmart Inc. (NYSE:WMT) by 30.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,025 shares of the retailer’s stock after selling 7,500 shares during the period. Walmart makes up about 1.5% of Connective Portfolio Management LLC’s holdings, making the stock its 17th biggest holding. Connective Portfolio Management LLC’s holdings in Walmart were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in WMT. Seven Eight Capital LP bought a new position in shares of Walmart during the 4th quarter valued at about $444,000. Cullen Capital Management LLC raised its stake in shares of Walmart by 0.9% during the fourth quarter. Cullen Capital Management LLC now owns 21,246 shares of the retailer’s stock worth $3,349,000 after acquiring an additional 183 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of Walmart by 21.5% in the 4th quarter. MGO One Seven LLC now owns 23,569 shares of the retailer’s stock worth $3,716,000 after acquiring an additional 4,166 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Walmart in the 4th quarter valued at $913,000. Finally, Hancock Whitney Corp grew its holdings in shares of Walmart by 366.9% during the 4th quarter. Hancock Whitney Corp now owns 48,241 shares of the retailer’s stock valued at $7,605,000 after purchasing an additional 37,909 shares during the last quarter. Institutional investors own 26.76% of the company’s stock.

Walmart Stock Up 0.4 %

NYSE:WMT traded up $0.33 during trading hours on Wednesday, reaching $80.04. 1,663,126 shares of the company traded hands, compared to its average volume of 17,299,752. Walmart Inc. has a 1 year low of $49.85 and a 1 year high of $81.60. The stock has a market capitalization of $643.38 billion, a P/E ratio of 34.11, a P/E/G ratio of 4.05 and a beta of 0.51. The business’s 50-day moving average price is $75.88 and its two-hundred day moving average price is $68.52. 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 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. The company had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. Walmart’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. Analysts predict that Walmart Inc. will post 2.44 earnings per share for the current year.

Insider Activity

In related news, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $80.97, for a total value of $242,910.00. Following the completion of the sale, the executive vice president now directly owns 381,165 shares in the company, valued at approximately $30,862,930.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the completion of the transaction, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. This trade 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 over the last 90 days. 45.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Barclays lifted 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. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up previously from $81.00) on shares of Walmart in a report on Friday, August 16th. Roth Mkm boosted their price objective on shares of Walmart from $71.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, HSBC increased their target price on shares of Walmart from $70.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $81.96.

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.