Cumberland Partners Ltd Sells 22,749 Shares of Walmart Inc. (NYSE:WMT)

Key Points

• Cumberland Partners Ltd reduced its Walmart holdings by 3.0%, selling 22,749 shares and now owning 734,801 shares, valued at approximately $64.5 million.
• Walmart's stock price opened at $98.40 with a market cap of $785.27 billion, while its shares reported a 52-week high of $105.30 and a low of $66.67.
• Analysts have given Walmart a consensus rating of "Moderate Buy", with price targets ranging from $103.00 to $110.00, indicating potential growth in the stock's value.

Cumberland Partners Ltd cut its holdings in shares of Walmart Inc. (NYSE:WMT - Free Report) by 3.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 734,801 shares of the retailer's stock after selling 22,749 shares during the period. Walmart comprises approximately 5.0% of Cumberland Partners Ltd's investment portfolio, making the stock its 2nd biggest holding. Cumberland Partners Ltd's holdings in Walmart were worth $64,508,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. boosted its holdings in Walmart by 98.2% during the first quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock worth $32,000 after buying an additional 167 shares in the last quarter. EQ Wealth Advisors LLC acquired a new position in shares of Walmart in the first quarter worth about $35,000. Lipe & Dalton boosted its stake in shares of Walmart by 95.2% during the 1st quarter. Lipe & Dalton now owns 410 shares of the retailer's stock worth $36,000 after acquiring an additional 200 shares in the last quarter. Mizuho Bank Ltd. purchased a new stake in shares of Walmart during the 4th quarter worth about $41,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of Walmart during the 1st quarter valued at about $49,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Stock Performance

Shares of Walmart stock opened at $98.40 on Friday. The firm has a market cap of $785.27 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 4.72 and a beta of 0.66. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. Walmart Inc. has a 52 week low of $66.67 and a 52 week high of $105.30. The business's fifty day simple moving average is $96.86 and its 200-day simple moving average is $95.03.

Walmart (NYSE:WMT - Get Free Report) last posted its earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, beating 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 in the prior year, the company posted $0.60 earnings per share. Walmart's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WMT. KeyCorp upped their price target on Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $103.00 target price (up from $102.00) on shares of Walmart in a research note on Monday, June 9th. Robert W. Baird lifted their price target on shares of Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Oppenheimer boosted their price target on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Walmart in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $106.67.

Insider Activity at Walmart

In related news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $95.85, for a total value of $1,258,031.25. Following the completion of the sale, the executive vice president owned 945,434 shares in the company, valued at approximately $90,619,848.90. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn J. Mclay sold 28,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $97.00, for a total value of $2,716,000.00. Following the completion of the sale, the executive vice president directly owned 1,064,455 shares in the company, valued at approximately $103,252,135. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,912 shares of company stock valued at $13,863,813. 45.58% of the stock is owned by insiders.

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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