Heritage Investors Management Corp Sells 5,711 Shares of Walmart Inc. (NYSE:WMT)

Heritage Investors Management Corp reduced its position in Walmart Inc. (NYSE:WMT - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,315 shares of the retailer's stock after selling 5,711 shares during the quarter. Walmart accounts for approximately 1.6% of Heritage Investors Management Corp's holdings, making the stock its 14th biggest holding. Heritage Investors Management Corp's holdings in Walmart were worth $46,117,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Walmart by 40.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 587,712 shares of the retailer's stock valued at $51,595,000 after purchasing an additional 169,523 shares during the period. J.W. Cole Advisors Inc. grew its stake in Walmart by 24.6% in the 1st quarter. J.W. Cole Advisors Inc. now owns 169,400 shares of the retailer's stock worth $14,872,000 after acquiring an additional 33,491 shares in the last quarter. BKM Wealth Management LLC increased its position in shares of Walmart by 15.2% during the first quarter. BKM Wealth Management LLC now owns 19,372 shares of the retailer's stock worth $1,701,000 after acquiring an additional 2,552 shares during the period. WNY Asset Management LLC raised its stake in shares of Walmart by 5.4% during the first quarter. WNY Asset Management LLC now owns 11,848 shares of the retailer's stock valued at $1,040,000 after acquiring an additional 611 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Walmart by 12.9% during the first quarter. IFP Advisors Inc now owns 98,826 shares of the retailer's stock valued at $8,678,000 after acquiring an additional 11,296 shares in the last quarter. Institutional investors own 26.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Oppenheimer increased their price objective on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. KeyCorp raised their price target on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Truist Financial lifted their price objective on Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $103.00 target price (up from $102.00) on shares of Walmart in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.67.

Insider Activity at Walmart

In related news, EVP Kathryn J. Mclay sold 4,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $95.24, for a total value of $380,960.00. Following the sale, the executive vice president owned 1,060,455 shares in the company, valued at $100,997,734.20. This represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO C Douglas Mcmillon sold 19,416 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $97.19, for a total transaction of $1,887,041.04. Following the transaction, the chief executive officer directly owned 4,431,783 shares of the company's stock, valued at $430,724,989.77. This represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 142,695 shares of company stock worth $13,710,162 in the last quarter. 45.58% of the stock is owned by insiders.

Walmart Stock Down 0.1%

WMT stock opened at $95.01 on Friday. The stock has a market capitalization of $758.22 billion, a PE ratio of 40.60, a price-to-earnings-growth ratio of 4.57 and a beta of 0.68. Walmart Inc. has a 52 week low of $66.67 and a 52 week high of $105.30. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $96.81 and a 200 day moving average of $94.65.

Walmart (NYSE:WMT - Get Free Report) last posted 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. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The business had revenue of $165.61 billion during the quarter, compared to analysts' expectations of $164.53 billion. During the same quarter last year, the company posted $0.60 earnings per share. The business's quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 12th were paid a $0.235 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a yield of 0.95%. Walmart's dividend payout ratio (DPR) is 40.17%.

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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