Chemung Canal Trust Co. Cuts Stock Position in Walmart Inc. (NYSE:WMT)

Chemung Canal Trust Co. reduced its stake in shares of Walmart Inc. (NYSE:WMT - Free Report) by 21.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,628 shares of the retailer's stock after selling 11,691 shares during the quarter. Chemung Canal Trust Co.'s holdings in Walmart were worth $3,830,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whelan Financial boosted its stake in Walmart by 2.3% in the 4th quarter. Whelan Financial now owns 4,339 shares of the retailer's stock worth $392,000 after purchasing an additional 97 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Walmart by 1.7% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,937 shares of the retailer's stock worth $538,000 after purchasing an additional 98 shares in the last quarter. Scott & Selber Inc. boosted its stake in Walmart by 3.7% in the 1st quarter. Scott & Selber Inc. now owns 2,920 shares of the retailer's stock worth $256,000 after purchasing an additional 105 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its stake in Walmart by 1.4% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 7,794 shares of the retailer's stock worth $684,000 after purchasing an additional 105 shares in the last quarter. Finally, Van Strum & Towne Inc. boosted its stake in Walmart by 1.6% in the 4th quarter. Van Strum & Towne Inc. now owns 6,849 shares of the retailer's stock worth $619,000 after purchasing an additional 108 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WMT. Tigress Financial upped their price target on shares of Walmart from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Oppenheimer upped their target price on shares of Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Mizuho upped their target price on shares of Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. Stifel Nicolaus lowered their target price on shares of Walmart from $93.00 to $91.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $103.00 target price (up previously from $102.00) on shares of Walmart in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.67.

Walmart Stock Performance

NYSE WMT traded down $1.04 on Thursday, reaching $95.77. 7,114,298 shares of the stock were exchanged, compared to its average volume of 18,041,858. Walmart Inc. has a one year low of $66.67 and a one year high of $105.30. The firm has a market capitalization of $764.28 billion, a PE ratio of 41.01, a PEG ratio of 4.67 and a beta of 0.68. The company's 50-day simple moving average is $97.24 and its two-hundred day simple moving average is $94.45. 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 (NYSE:WMT - Get Free Report) last released its earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The company had revenue of $165.61 billion for the quarter, compared to analysts' expectations of $164.53 billion. During the same quarter last year, the business earned $0.60 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. Analysts expect that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were given a dividend of $0.235 per share. This represents a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, May 9th. Walmart's payout ratio is currently 40.17%.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 19,416 shares of Walmart stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $97.19, for a total transaction of $1,887,041.04. Following the sale, the chief executive officer owned 4,431,783 shares in the company, valued at $430,724,989.77. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kathryn J. Mclay sold 4,000 shares of Walmart stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $95.24, for a total transaction of $380,960.00. Following the sale, the executive vice president owned 1,060,455 shares in the company, valued at approximately $100,997,734.20. The trade was a 0.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,711 shares of company stock valued at $13,710,319. Company insiders own 45.58% of the company's stock.

Walmart Company Profile

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.