Hartford Investment Management Co. Sells 3,582 Shares of Walmart Inc. (NYSE:WMT)

Key Points

• Hartford Investment Management Co. reduced its Walmart holdings by 1.3%, now owning 264,665 shares valued at approximately $23.24 million.
• Walmart's recent quarterly earnings report showed an EPS of $0.61, beating analysts' estimates and reflecting a 2.5% year-over-year revenue growth.
• The company announced a dividend of $0.235 per share, which was recently paid to shareholders of record, with a payout ratio of 40.17%.

Hartford Investment Management Co. lowered its position in Walmart Inc. (NYSE:WMT - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,665 shares of the retailer's stock after selling 3,582 shares during the quarter. Walmart makes up about 0.8% of Hartford Investment Management Co.'s investment portfolio, making the stock its 21st largest holding. Hartford Investment Management Co.'s holdings in Walmart were worth $23,235,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC lifted its stake 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 worth $349,000 after buying an additional 321 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Walmart by 28.8% during the 4th quarter. Brighton Jones LLC now owns 98,150 shares of the retailer's stock worth $8,868,000 after buying an additional 21,939 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake 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 worth $800,000 after buying an additional 485 shares during the last quarter. Highview Capital Management LLC DE lifted its stake 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 worth $3,338,000 after buying an additional 1,720 shares during the last quarter. Finally, Bryce Point Capital LLC acquired a new stake in shares of Walmart during the 4th quarter worth about $531,000. Institutional investors and hedge funds own 26.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WMT shares. Sanford C. Bernstein restated an "outperform" rating on shares of Walmart in a research note on Monday, May 5th. Tigress Financial raised their price target on shares of Walmart from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. UBS Group lowered their price target on shares of Walmart from $112.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Evercore ISI raised their price target on shares of Walmart from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Truist Financial raised their price target on shares of Walmart from $107.00 to $111.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Walmart presently has an average rating of "Moderate Buy" and a consensus target price of $106.67.

Walmart Trading Up 0.4%

NYSE:WMT traded up $0.42 during mid-day trading on Friday, hitting $98.40. 16,740,547 shares of the company's stock were exchanged, compared to its average volume of 12,707,151. The company has a 50 day simple moving average of $96.86 and a 200-day simple moving average of $95.03. 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 fifty-two week low of $66.67 and a fifty-two week high of $105.30. The firm has a market capitalization of $785.27 billion, a P/E ratio of 42.05, a PEG ratio of 4.72 and a beta of 0.66.

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

Walmart Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were paid a $0.235 dividend. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 95.0%. Walmart's payout ratio is currently 40.17%.

Insider Buying and Selling

In other news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $95.14, for a total value of $1,248,712.50. Following the completion of the sale, the executive vice president owned 932,313 shares in the company, valued at $88,700,258.82. The trade was a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kathryn J. Mclay sold 4,000 shares of the business'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 sale, the executive vice president owned 1,056,455 shares of the company's stock, valued at $100,511,128.70. This trade represents a 0.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,912 shares of company stock worth $13,863,813 over the last ninety days. 45.58% of the stock is owned by company insiders.

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.