Azimuth Capital Investment Management LLC Lowers Stake in Walmart Inc. (NYSE:WMT)

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Walmart by 3.2%, holding 270,716 shares valued at approximately $23.77 million as of the latest SEC filing.
• Walmart's quarterly earnings per share (EPS) exceeded analysts' expectations at $0.61, with a net revenue of $165.61 billion, marking a 2.5% year-over-year increase.
• The company declared a dividend of $0.235 per share, with a dividend yield of 90.0%, scheduled for payment on September 2nd to stockholders recorded by August 18th.

Azimuth Capital Investment Management LLC trimmed its stake in shares of Walmart Inc. (NYSE:WMT - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,716 shares of the retailer's stock after selling 8,842 shares during the period. Walmart makes up 0.9% of Azimuth Capital Investment Management LLC's investment portfolio, making the stock its 26th largest holding. Azimuth Capital Investment Management LLC's holdings in Walmart were worth $23,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Fox Run Management L.L.C. purchased a new position in shares of Walmart during the first quarter valued at approximately $510,000. KLCM Advisors Inc. grew its position in Walmart by 15.8% during the first quarter. KLCM Advisors Inc. now owns 12,382 shares of the retailer's stock valued at $1,087,000 after buying an additional 1,687 shares during the period. Certuity LLC grew its position in Walmart by 24.7% during the first quarter. Certuity LLC now owns 32,270 shares of the retailer's stock valued at $2,837,000 after buying an additional 6,382 shares during the period. Kovitz Investment Group Partners LLC grew its position in Walmart by 127.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 560,157 shares of the retailer's stock valued at $49,176,000 after buying an additional 313,436 shares during the period. Finally, Cookson Peirce & Co. Inc. boosted its position in shares of Walmart by 46.7% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,208 shares of the retailer's stock worth $369,000 after purchasing an additional 1,340 shares during the period. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Stock Down 2.5%

Shares of NYSE:WMT opened at $101.05 on Thursday. The stock has a 50-day simple moving average of $97.49 and a 200-day simple moving average of $95.55. The stock has a market capitalization of $806.42 billion, a P/E ratio of 43.18, a PEG ratio of 4.99 and a beta of 0.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78. Walmart Inc. has a 1 year low of $67.85 and a 1 year high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The firm had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same period in the previous year, the company posted $0.60 EPS. Walmart's revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a $0.235 dividend. This represents a dividend yield of 90.0%. The ex-dividend date is Friday, August 15th. Walmart's payout ratio is 40.17%.

Analysts Set New Price Targets

WMT has been the topic of several research analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $103.00 target price (up previously from $102.00) on shares of Walmart in a report on Monday, June 9th. Telsey Advisory Group reissued an "outperform" rating and issued a $115.00 target price on shares of Walmart in a research note on Thursday. Wall Street Zen raised shares of Walmart from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Robert W. Baird increased their target price on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Truist Financial increased their target price on shares of Walmart from $107.00 to $111.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $107.47.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 2,200 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $98.30, for a total transaction of $216,260.00. Following the completion of the transaction, the executive vice president directly owned 626,118 shares in the company, valued at $61,547,399.40. This represents a 0.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,744 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $95.60, for a total value of $166,726.40. Following the transaction, the executive vice president owned 649,233 shares of the company's stock, valued at approximately $62,066,674.80. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,334 shares of company stock worth $13,913,350. Corporate insiders own 0.10% 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.

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