Associated Banc Corp Has $10.49 Million Stock Position in Walmart Inc. (NYSE:WMT)

Key Points

• Associated Banc Corp reduced its stake in Walmart Inc. by 10.2%, selling 13,618 shares during the first quarter, leaving it with a total of 119,471 shares valued at approximately $10.49 million.
• Several analysts have recently increased their price targets for Walmart, with Oppenheimer raising it from $100 to $110 and Mizuho from $105 to $115, while a majority of analysts maintain a "Moderate Buy" rating on the stock.
• Walmart's stock currently has a market cap of $793.95 billion and reported earnings of $0.61 per share this past quarter, exceeding analysts’ expectations.

Associated Banc Corp lessened its stake in Walmart Inc. (NYSE:WMT - Free Report) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,471 shares of the retailer's stock after selling 13,618 shares during the quarter. Associated Banc Corp's holdings in Walmart were worth $10,488,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WMT. ABC Arbitrage SA increased its holdings in shares of Walmart by 13.9% in the first quarter. ABC Arbitrage SA now owns 17,270 shares of the retailer's stock worth $1,516,000 after purchasing an additional 2,109 shares during the period. LCM Capital Management Inc increased its holdings in shares of Walmart by 1.9% in the first quarter. LCM Capital Management Inc now owns 30,881 shares of the retailer's stock worth $2,711,000 after purchasing an additional 562 shares during the period. McClarren Financial Advisors Inc. bought a new position in shares of Walmart in the first quarter worth $116,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Walmart by 10.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 11,377 shares of the retailer's stock worth $999,000 after purchasing an additional 1,076 shares during the period. Finally, Syntegra Private Wealth Group LLC increased its holdings in shares of Walmart by 4.9% in the first quarter. Syntegra Private Wealth Group LLC now owns 22,275 shares of the retailer's stock worth $1,955,000 after purchasing an additional 1,038 shares during the period. Institutional investors own 26.76% of the company's stock.

Analyst Ratings Changes

WMT has been the topic of several research analyst reports. Erste Group Bank raised shares of Walmart from a "hold" rating to a "buy" rating in a report on Tuesday. Raymond James Financial reduced their target price on Walmart from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. KeyCorp lifted their price target on Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Evercore ISI lifted their price target on Walmart from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Truist Financial lifted their price target on Walmart from $107.00 to $111.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $106.67.

Walmart Trading Down 0.4%

WMT traded down $0.38 during trading on Tuesday, hitting $99.21. 17,974,182 shares of the company's stock were exchanged, compared to its average volume of 13,850,635. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. Walmart Inc. has a 1 year low of $66.67 and a 1 year high of $105.30. The stock has a 50 day moving average price of $96.95 and a 200 day moving average price of $95.16. The firm has a market cap of $791.74 billion, a P/E ratio of 42.40, a price-to-earnings-growth ratio of 4.79 and a beta of 0.66.

Walmart (NYSE:WMT - Get Free Report) last announced its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. As a group, analysts expect that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kathryn J. Mclay sold 28,000 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $97.00, for a total transaction of $2,716,000.00. Following the completion of the transaction, the executive vice president owned 1,064,455 shares in the company, valued at approximately $103,252,135. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John R. Furner sold 13,125 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $95.85, for a total transaction of $1,258,031.25. Following the sale, the executive vice president directly owned 945,434 shares of the company's stock, valued at $90,619,848.90. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,112 shares of company stock worth $14,080,073 over the last ninety days. Insiders own 45.58% of the company's stock.

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.