Jennison Associates LLC Sells 102,676 Shares of Walmart Inc. $WMT

Key Points

• Jennison Associates LLC trimmed its Walmart stake by 0.5% in the first quarter, selling 102,676 shares. Even after the sale, it still owned about 19.95 million shares worth roughly $2.48 billion, making Walmart its 15th-largest holding.
• Wall Street remains largely bullish on Walmart, with analysts maintaining mostly Buy/Outperform ratings and a consensus price target of $138.85. Recent notes from KeyCorp, BTIG, BMO Capital Markets, Evercore, and Guggenheim were all positive.
• Walmart’s latest earnings were in line with expectations, as it reported $0.66 EPS and $177.75 billion in revenue, with sales up 7.4% year over year. The stock opened at $114.24, below both its 50-day and 200-day moving averages, while insiders have also been selling shares recently.

Jennison Associates LLC cut its holdings in shares of Walmart Inc. (NASDAQ:WMT - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,951,179 shares of the retailer's stock after selling 102,676 shares during the quarter. Walmart makes up approximately 1.7% of Jennison Associates LLC's portfolio, making the stock its 15th largest holding. Jennison Associates LLC owned 0.25% of Walmart worth $2,479,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Walmart by 28.8% in the fourth quarter. Brighton Jones LLC now owns 98,150 shares of the retailer's stock valued at $8,868,000 after purchasing an additional 21,939 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in 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 purchasing an additional 485 shares in the last quarter. Peterson Wealth Management lifted its holdings in Walmart by 3.5% during the 1st quarter. Peterson Wealth Management now owns 50,307 shares of the retailer's stock worth $4,416,000 after purchasing an additional 1,715 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Walmart by 0.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 13,008 shares of the retailer's stock worth $1,272,000 after purchasing an additional 116 shares during the period. Finally, Schnieders Capital Management LLC. boosted its stake in Walmart by 1.2% in the 2nd quarter. Schnieders Capital Management LLC. now owns 91,341 shares of the retailer's stock worth $8,931,000 after purchasing an additional 1,048 shares during the period. Institutional investors own 26.76% of the company's stock.

Analyst Upgrades and Downgrades

WMT has been the topic of several analyst reports. KeyCorp reiterated an "overweight" rating on shares of Walmart in a research report on Friday, May 22nd. BTIG Research restated a "buy" rating and issued a $145.00 price objective on shares of Walmart in a research report on Wednesday, June 3rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Walmart in a research note on Friday, May 22nd. Evercore reaffirmed an "outperform" rating on shares of Walmart in a report on Monday, May 18th. Finally, Guggenheim increased their target price on shares of Walmart from $120.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.85.

Walmart Price Performance

Shares of NASDAQ WMT opened at $114.24 on Friday. The stock's 50-day simple moving average is $118.82 and its two-hundred day simple moving average is $122.04. Walmart Inc. has a twelve month low of $94.43 and a twelve month high of $135.15. The firm has a market capitalization of $909.13 billion, a P/E ratio of 40.08, a P/E/G ratio of 4.26 and a beta of 0.60. The company has a quick ratio of 0.23, a current ratio of 0.77 and a debt-to-equity ratio of 0.42.

Walmart (NASDAQ:WMT - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The retailer reported $0.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.66. Walmart had a return on equity of 21.25% and a net margin of 3.13%.The firm had revenue of $177.75 billion during the quarter, compared to the consensus estimate of $174.84 billion. During the same quarter last year, the company posted $0.61 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. Walmart has set its FY 2027 guidance at 2.750-2.850 EPS and its Q2 2027 guidance at 0.720-0.740 EPS. As a group, equities analysts anticipate that Walmart Inc. will post 2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Latriece Watkins sold 11,000 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $118.97, for a total value of $1,308,670.00. Following the transaction, the executive vice president owned 120,203 shares of the company's stock, valued at $14,300,550.91. This represents a 8.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David W. Guggina sold 11,978 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $119.82, for a total transaction of $1,435,203.96. Following the sale, the executive vice president owned 125,067 shares in the company, valued at approximately $14,985,527.94. This trade represents a 8.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 87,145 shares of company stock valued at $10,691,920 over the last three months. Corporate insiders own 0.09% of the company's stock.

Key Stories Impacting Walmart

Here are the key news stories impacting Walmart this week:

• Positive Sentiment: June U.S. retail sales held up, suggesting consumers are still spending as Walmart heads into the back-to-school season; that could support traffic and sales volumes if the company remains aggressive on pricing. Retail Sales Hold Up as Walmart and Amazon Go Back to School
• Neutral Sentiment: Walmart is also being discussed in multiple market and analyst roundups, with commentary focusing on its strong digital growth and role as a defensive stock, but these pieces do not appear to include a major new business update. Walmart Commands a 36.74X Forward P/E: Is the Stock Worth Buying?
• Neutral Sentiment: An article about AI and retail highlighted that Walmart is investing in automation while still emphasizing workers, which reinforces its long-term strategy but is unlikely to move the stock on its own. Walmart's people chief says these 10 jobs are still hot in the age of AI
• Negative Sentiment: Some analysts argue Walmart’s premium valuation leaves limited room for disappointment, with one note saying momentum alone may not justify the stock’s high forward P/E. Walmart's Momentum Cannot Justify The Premium
• Negative Sentiment: Walmart has also been the subject of bearish commentary saying the recent sell-off may not be over, adding to investor caution around the shares. Walmart: The Sell-Off Isn't Over Yet (Rating Upgrade)

Walmart Company Profile

Walmart is a multinational retail corporation that operates a broad portfolio of store formats and digital services. Its core business includes large-format supercenters, discount department stores, neighborhood grocery stores and a membership warehouse chain, Sam’s Club. The company’s merchandising mix covers groceries, household goods, apparel, electronics and pharmacy services, supplemented by private-label products and category-specific offerings. Walmart pairs its physical store network with online platforms and mobile applications to provide omnichannel shopping, fulfillment and delivery options for consumers and businesses.

The company was founded by Sam Walton, who opened the first store in Rogers, Arkansas in 1962; it is headquartered in Bentonville, Arkansas.

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