Forvis Mazars Wealth Advisors LLC Has $8.22 Million Position in Walmart Inc. (NYSE:WMT)

Key Points

• Forvis Mazars Wealth Advisors LLC reduced its position in Walmart Inc. by 54.9%, holding $8.22 million worth of shares after selling over 114,000 shares during the first quarter.
• Various hedge funds have been adjusting their positions, with Monument Capital Management increasing its stake in Walmart by 94.2% in Q1, significantly influencing Walmart's overall institutional ownership of 26.76%.
• Walmart's stock has seen recent price target increases from multiple analysts, with a consensus rating of "Buy" and a price target averaging around $107.47 as of the latest research reports.

Forvis Mazars Wealth Advisors LLC lowered its holdings in shares of Walmart Inc. (NYSE:WMT - Free Report) by 54.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,626 shares of the retailer's stock after selling 114,107 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Walmart were worth $8,219,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Full Sail Capital LLC raised its position in shares of Walmart by 6.6% during the fourth quarter. Full Sail Capital LLC now owns 8,702 shares of the retailer's stock worth $786,000 after purchasing an additional 541 shares during the period. Leslie Global Wealth LLC raised its position in Walmart by 22.0% in the 4th quarter. Leslie Global Wealth LLC now owns 3,154 shares of the retailer's stock valued at $285,000 after buying an additional 568 shares during the last quarter. Monument Capital Management raised its position in Walmart by 94.2% in the 1st quarter. Monument Capital Management now owns 55,004 shares of the retailer's stock valued at $4,829,000 after buying an additional 26,685 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Walmart by 11.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,959,752 shares of the retailer's stock valued at $698,787,000 after buying an additional 838,689 shares during the last quarter. Finally, Milestone Asset Management LLC raised its position in Walmart by 156.7% in the 1st quarter. Milestone Asset Management LLC now owns 54,659 shares of the retailer's stock valued at $4,799,000 after buying an additional 33,370 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company's stock.

Analysts Set New Price Targets

WMT has been the topic of a number of recent research reports. Oppenheimer lifted their target price on Walmart from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday. Evercore ISI lifted their target price on Walmart from $107.00 to $108.00 and gave the company an "outperform" rating in a research report on Tuesday. KeyCorp lifted their target price on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Mizuho reissued an "outperform" rating and issued a $115.00 target price on shares of Walmart in a research report on Wednesday. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $115.00 target price on shares of Walmart in a research report on Thursday. One research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $107.47.

Insiders Place Their Bets

In other news, CEO C Douglas Mcmillon sold 29,148 shares of Walmart stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $96.58, for a total transaction of $2,815,113.84. Following the completion of the transaction, the chief executive officer directly owned 4,451,199 shares in the company, valued at approximately $429,896,799.42. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathryn J. Mclay sold 28,000 shares of the business's stock in a transaction 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 owned 1,064,455 shares of the company's stock, valued at $103,252,135. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,334 shares of company stock valued at $13,913,350. 0.10% of the stock is owned by insiders.

Walmart Stock Performance

Shares of NYSE WMT opened at $99.96 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. Walmart Inc. has a 12 month low of $72.52 and a 12 month high of $105.30. The stock has a 50 day moving average of $97.60 and a 200-day moving average of $95.59. The company has a market capitalization of $797.72 billion, a P/E ratio of 42.72, a P/E/G ratio of 4.84 and a beta of 0.66.

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

Walmart Announces Dividend

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

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.

Want to see what other hedge funds are holding WMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walmart Inc. (NYSE:WMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.