Cresset Asset Management LLC Cuts Stake in Walmart Inc. (NYSE:WMT)

Key Points

• Cresset Asset Management LLC reduced its stake in Walmart Inc. by 9.9%, selling 82,556 shares to hold 754,894 shares valued at approximately $66.4 million.
• Several institutional investors increased their positions in Walmart during the last quarter, including Cadence Bank, which boosted its holdings by 70.9%.
• Walmart recently declared a dividend of $0.235 per share, set to be paid on September 2nd, with an ex-dividend date of August 15th.

Cresset Asset Management LLC trimmed its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 754,894 shares of the retailer's stock after selling 82,556 shares during the quarter. Cresset Asset Management LLC's holdings in Walmart were worth $66,448,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WMT. Eagle Capital Management LLC boosted its holdings in shares of Walmart by 9.1% during the 4th quarter. Eagle Capital Management LLC now owns 3,861 shares of the retailer's stock valued at $349,000 after acquiring an additional 321 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Walmart by 28.8% during the 4th quarter. Brighton Jones LLC now owns 98,150 shares of the retailer's stock valued at $8,868,000 after acquiring an additional 21,939 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Walmart by 5.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,849 shares of the retailer's stock valued at $800,000 after acquiring an additional 485 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of Walmart by 4.9% during the 4th quarter. Highview Capital Management LLC DE now owns 36,945 shares of the retailer's stock valued at $3,338,000 after acquiring an additional 1,720 shares during the last quarter. Finally, Cadence Bank boosted its holdings in shares of Walmart by 70.9% in the fourth quarter. Cadence Bank now owns 310,761 shares of the retailer's stock worth $28,077,000 after buying an additional 128,893 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company's stock.

Insider Buying and Selling at Walmart

In other Walmart news, EVP Kathryn J. Mclay sold 4,000 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.14, for a total transaction of $380,560.00. Following the completion of the sale, the executive vice president directly owned 1,056,455 shares of the company's stock, valued at approximately $100,511,128.70. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,744 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $95.60, for a total transaction of $166,726.40. Following the sale, the executive vice president directly 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 quarter, insiders sold 144,334 shares of company stock valued at $13,913,350. 0.10% of the stock is currently owned by corporate insiders.

Walmart Stock Performance

WMT stock opened at $99.96 on Friday. The firm has a market cap of $797.72 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 4.84 and a beta of 0.66. The firm has a 50-day simple moving average of $97.60 and a two-hundred day simple moving average of $95.59. Walmart Inc. has a one year low of $72.52 and a one year high of $105.30. 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 (NYSE:WMT - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 EPS 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 analyst estimates of $164.53 billion. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts forecast that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Dividend Announcement

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

Analyst Ratings Changes

WMT has been the topic of a number of research reports. Evercore ISI raised their price objective on shares of Walmart from $107.00 to $108.00 and gave the stock an "outperform" rating in a report on Tuesday. Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a report on Monday, May 5th. Oppenheimer raised their price objective on shares of Walmart from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday. Mizuho reissued an "outperform" rating and issued a $115.00 price objective on shares of Walmart in a report on Wednesday. Finally, KeyCorp raised their price objective on shares of Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $107.47.

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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