Confluence Wealth Services Inc. Increases Position in Walmart Inc. (NYSE:WMT)

Confluence Wealth Services Inc. increased its stake in shares of Walmart Inc. (NYSE:WMT - Free Report) by 22.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,365 shares of the retailer's stock after buying an additional 13,902 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Walmart were worth $7,252,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Horizon Financial Services LLC grew its holdings in shares of Walmart by 1,007.7% during the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock valued at $26,000 after buying an additional 262 shares during the last quarter. EQ Wealth Advisors LLC purchased a new stake in Walmart in the first quarter valued at $35,000. Noble Wealth Management PBC purchased a new stake in Walmart in the fourth quarter valued at $37,000. Mizuho Bank Ltd. purchased a new stake in Walmart in the fourth quarter valued at $41,000. Finally, Nexus Investment Management ULC purchased a new stake in Walmart in the first quarter valued at $49,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,148 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total value of $2,815,113.84. Following the completion of the sale, the chief executive officer now owns 4,451,199 shares in the company, valued at approximately $429,896,799.42. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $99.00, for a total transaction of $217,800.00. Following the completion of the sale, the executive vice president now owns 630,518 shares of the company's stock, valued at approximately $62,421,282. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,711 shares of company stock worth $13,688,803. Insiders own 45.58% of the company's stock.

Walmart Stock Up 1.4%

WMT opened at $97.41 on Friday. Walmart Inc. has a twelve month low of $66.67 and a twelve month high of $105.30. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $96.80 and a 200 day moving average price of $94.23. The company has a market cap of $777.37 billion, a PE ratio of 41.63, a price-to-earnings-growth ratio of 4.75 and a beta of 0.69.

Walmart (NYSE:WMT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. The company 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%. Walmart's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. Sell-side analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on WMT. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Walmart in a report on Wednesday, March 26th. Citigroup reaffirmed a "buy" rating on shares of Walmart in a report on Tuesday, May 6th. Mizuho upped their price target on shares of Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, June 9th. Stifel Nicolaus lowered their price target on shares of Walmart from $93.00 to $91.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $103.00 price target (up from $102.00) on shares of Walmart in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.50.

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.

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