iA Global Asset Management Inc. Sells 73,927 Shares of Walmart Inc. (NYSE:WMT)

Key Points

• iA Global Asset Management Inc. has reduced its stake in Walmart Inc. by 15.2% by selling 73,927 shares, resulting in total holdings of 412,585 shares worth approximately $36.2 million.
• A notable shift in Walmart's institutional ownership includes Bear Mountain Capital Inc. increasing its stake by 98.2% during the same quarter, alongside other hedge funds acquiring new positions.
• Analysts have a positive outlook on Walmart, with many raising their price targets, leading to an average target of $106.67 and an overall rating near "Moderate Buy."

iA Global Asset Management Inc. lowered its stake in Walmart Inc. (NYSE:WMT - Free Report) by 15.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 412,585 shares of the retailer's stock after selling 73,927 shares during the period. iA Global Asset Management Inc.'s holdings in Walmart were worth $36,221,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bear Mountain Capital Inc. raised its position in shares of Walmart by 98.2% in the 1st quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock valued at $32,000 after buying an additional 167 shares in the last quarter. EQ Wealth Advisors LLC acquired a new position in Walmart during the first quarter valued at approximately $35,000. Lipe & Dalton lifted its stake in Walmart by 95.2% during the first quarter. Lipe & Dalton now owns 410 shares of the retailer's stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Nexus Investment Management ULC acquired a new stake in shares of Walmart in the 1st quarter valued at $49,000. Finally, Vega Investment Solutions acquired a new position in shares of Walmart during the 4th quarter worth $54,000. Institutional investors own 26.76% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on WMT. Oppenheimer lifted their target price on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Evercore ISI upped their price objective 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. DA Davidson reissued a "buy" rating and issued a $117.00 price objective on shares of Walmart in a research note on Friday, May 16th. Royal Bank Of Canada reiterated an "outperform" rating and set a $103.00 price target (up from $102.00) on shares of Walmart in a report on Monday, June 9th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $115.00 price objective 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $106.67.

Insider Transactions at Walmart

In related news, EVP John R. Furner sold 13,125 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $95.14, for a total transaction of $1,248,712.50. Following the transaction, the executive vice president directly owned 932,313 shares of the company's stock, valued at $88,700,258.82. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John D. Rainey sold 2,200 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $98.30, for a total transaction of $216,260.00. Following the completion of the sale, 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 90 days, insiders have sold 146,112 shares of company stock worth $14,080,073. 45.58% of the stock is owned by insiders.

Walmart Stock Performance

WMT opened at $99.49 on Tuesday. Walmart Inc. has a 1-year low of $66.67 and a 1-year high of $105.30. The company has a market cap of $793.95 billion, a price-to-earnings ratio of 42.52, a PEG ratio of 4.74 and a beta of 0.66. The company's fifty day moving average price is $96.92 and its two-hundred day moving average price is $95.13. 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 (NYSE:WMT - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Walmart Inc. will post 2.55 EPS for the current fiscal year.

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.

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