Corebridge Financial Inc. Cuts Stake in Walmart Inc. $WMT

Key Points

• Corebridge Financial Inc. has reduced its stake in Walmart Inc. by 3.6%, now holding 1,008,390 shares, valued at approximately $88.5 million.
• Walmart reported a quarterly earnings miss with $0.68 EPS, falling short of expectations, while its revenue was up 4.8% year-over-year but also below consensus estimates.
• Analyst ratings for Walmart are predominantly positive, with an average rating of "Buy" and price targets suggesting a potential upside, with a recent average target set at $110.07.

Corebridge Financial Inc. cut its stake in Walmart Inc. (NYSE:WMT - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,008,390 shares of the retailer's stock after selling 37,654 shares during the quarter. Walmart comprises about 0.5% of Corebridge Financial Inc.'s investment portfolio, making the stock its 24th biggest position. Corebridge Financial Inc.'s holdings in Walmart were worth $88,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Walmart by 0.8% in the first quarter. Vanguard Group Inc. now owns 425,961,042 shares of the retailer's stock valued at $37,395,120,000 after purchasing an additional 3,224,154 shares during the period. Northern Trust Corp grew its stake in shares of Walmart by 8.9% during the fourth quarter. Northern Trust Corp now owns 43,641,936 shares of the retailer's stock valued at $3,943,049,000 after acquiring an additional 3,550,037 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Walmart by 30.1% during the first quarter. Goldman Sachs Group Inc. now owns 33,292,749 shares of the retailer's stock valued at $2,922,770,000 after acquiring an additional 7,706,201 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Walmart by 1.3% during the first quarter. Ameriprise Financial Inc. now owns 30,874,987 shares of the retailer's stock valued at $2,710,665,000 after acquiring an additional 387,424 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Walmart by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 29,843,892 shares of the retailer's stock valued at $2,696,396,000 after acquiring an additional 233,040 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WMT. Wall Street Zen upgraded Walmart from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Mizuho restated an "outperform" rating and set a $115.00 target price on shares of Walmart in a research note on Wednesday, August 13th. Guggenheim restated a "buy" rating and set a $115.00 target price (up from $112.00) on shares of Walmart in a research note on Monday, August 18th. Robert W. Baird raised their target price on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Erste Group Bank upgraded Walmart from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $110.07.

Insider Transactions at Walmart

In other news, EVP John R. Furner sold 13,125 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $95.14, for a total transaction of $1,248,712.50. Following the completion of the transaction, the executive vice president directly owned 932,313 shares of the company's stock, valued at approximately $88,700,258.82. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel J. Bartlett sold 1,655 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $100.38, for a total value of $166,128.90. Following the transaction, the executive vice president directly owned 647,578 shares of the company's stock, valued at $65,003,879.64. This trade represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,841 shares of company stock valued at $8,565,205 over the last 90 days. Corporate insiders own 0.10% of the company's stock.

Walmart Stock Down 1.2%

Shares of Walmart stock opened at $96.8190 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market cap of $772.66 billion, a P/E ratio of 36.40, a P/E/G ratio of 4.65 and a beta of 0.66. Walmart Inc. has a fifty-two week low of $75.01 and a fifty-two week high of $105.30. The business has a 50-day moving average price of $97.99 and a 200 day moving average price of $95.53.

Walmart (NYSE:WMT - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The retailer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.06). The firm had revenue of $169.34 billion during the quarter, compared to the consensus estimate of $174.02 billion. Walmart had a net margin of 3.08% and a return on equity of 21.45%. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. Walmart has set its Q3 2026 guidance at 0.580-0.600 EPS. FY 2026 guidance at 2.520-2.620 EPS. On average, sell-side analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.235 dividend. This represents a yield of 90.0%. The ex-dividend date of this dividend is Friday, August 15th. Walmart's payout ratio is currently 35.34%.

Walmart 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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