First American Trust FSB Reduces Stock Position in Walmart Inc. (NYSE:WMT)

Key Points

• First American Trust FSB reduced its holdings in Walmart Inc. by 7.5%, selling 14,889 shares in the first quarter, leaving them with 184,440 shares worth approximately $16.2 million.
• Several other institutional investors have also changed their stakes in Walmart, with Bear Mountain Capital increasing its position by 98.2%.
• Walmart has received positive analyst ratings, with multiple upgrades, raising price targets to as high as $115.00, indicating strong buy sentiments in the market.

First American Trust FSB reduced its holdings in shares of Walmart Inc. (NYSE:WMT - Free Report) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,440 shares of the retailer's stock after selling 14,889 shares during the period. Walmart accounts for approximately 1.5% of First American Trust FSB's investment portfolio, making the stock its 15th biggest holding. First American Trust FSB's holdings in Walmart were worth $16,192,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WMT. Vanguard Group Inc. boosted its stake in Walmart by 0.8% during the 1st 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 last quarter. Northern Trust Corp raised its holdings in shares of Walmart by 8.9% in the 4th quarter. Northern Trust Corp now owns 43,641,936 shares of the retailer's stock worth $3,943,049,000 after purchasing an additional 3,550,037 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Walmart by 30.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,292,749 shares of the retailer's stock worth $2,922,770,000 after purchasing an additional 7,706,201 shares during the period. Nuveen Asset Management LLC raised its holdings in Walmart by 0.8% during the 4th 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 during the period. Finally, Invesco Ltd. raised its holdings in Walmart by 2.9% during the 1st quarter. Invesco Ltd. now owns 29,188,142 shares of the retailer's stock valued at $2,562,427,000 after acquiring an additional 823,020 shares during the period. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WMT has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating on shares of Walmart in a research report on Tuesday, May 6th. Telsey Advisory Group reiterated an "outperform" rating and issued a $115.00 target price on shares of Walmart in a research report on Monday, June 9th. Robert W. Baird boosted their price target on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Truist Financial upped their price objective on shares of Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Walmart in a research note on Monday, May 5th. One 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 company's stock. According to data from MarketBeat, Walmart currently has an average rating of "Buy" and an average target price of $106.67.

Insider Activity

In related news, EVP Kathryn J. Mclay sold 4,000 shares of the firm's stock in a transaction on 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 transaction, the executive vice president directly owned 1,056,455 shares of the company's stock, valued at approximately $100,511,128.70. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John D. Rainey sold 2,200 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $98.30, for a total transaction of $216,260.00. Following the transaction, the executive vice president directly owned 626,118 shares of the company's stock, valued at $61,547,399.40. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,112 shares of company stock worth $14,080,073. 0.10% of the stock is currently owned by insiders.

Walmart Stock Performance

WMT stock traded up $0.65 on Friday, hitting $103.77. The company had a trading volume of 12,392,140 shares, compared to its average volume of 13,978,248. Walmart Inc. has a 12-month low of $67.14 and a 12-month high of $105.30. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. The stock's 50-day simple moving average is $97.30 and its 200 day simple moving average is $95.39. The stock has a market cap of $828.13 billion, a price-to-earnings ratio of 44.35, a P/E/G ratio of 4.99 and a beta of 0.66.

Walmart (NYSE:WMT - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The business had revenue of $165.61 billion for the quarter, compared to the consensus estimate of $164.53 billion. During the same period last year, the firm earned $0.60 earnings per share. The company's quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

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.