Longbow Finance SA Reduces Position in Walmart Inc. (NYSE:WMT)

Key Points

• Longbow Finance SA has reduced its stake in Walmart Inc. by 27.8%, selling 66,391 shares to hold 172,019 shares, which represents about 1.8% of its investment portfolio.
• Several other institutional investors have increased their positions in Walmart, including a 76.9% increase by Scalar Gauge Management LLC, as the overall institutional ownership in Walmart reaches 26.76%.
• Walmart's stock currently holds an average rating of "Moderate Buy" among analysts, with a consensus price target of $106.67, following its latest earnings report that surpassed analyst forecasts.

Longbow Finance SA reduced its holdings in shares of Walmart Inc. (NYSE:WMT - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,019 shares of the retailer's stock after selling 66,391 shares during the period. Walmart comprises approximately 1.8% of Longbow Finance SA's portfolio, making the stock its 15th biggest holding. Longbow Finance SA's holdings in Walmart were worth $15,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WMT. World Investment Advisors boosted its holdings in Walmart by 7.6% in the fourth quarter. World Investment Advisors now owns 271,515 shares of the retailer's stock valued at $24,532,000 after acquiring an additional 19,233 shares in the last quarter. Full Sail Capital LLC boosted its holdings in Walmart by 6.6% in the fourth quarter. Full Sail Capital LLC now owns 8,702 shares of the retailer's stock valued at $786,000 after acquiring an additional 541 shares in the last quarter. Leslie Global Wealth LLC boosted its holdings in Walmart by 22.0% in the fourth quarter. Leslie Global Wealth LLC now owns 3,154 shares of the retailer's stock valued at $285,000 after acquiring an additional 568 shares in the last quarter. Scalar Gauge Management LLC boosted its holdings in Walmart by 76.9% in the fourth quarter. Scalar Gauge Management LLC now owns 69,000 shares of the retailer's stock valued at $6,234,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Monument Capital Management boosted its holdings in Walmart by 94.2% in the first quarter. Monument Capital Management now owns 55,004 shares of the retailer's stock valued at $4,829,000 after acquiring an additional 26,685 shares in the last quarter. Institutional investors own 26.76% of the company's stock.

Insiders Place Their Bets

In related news, EVP John R. Furner sold 13,125 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $95.85, for a total value of $1,258,031.25. Following the completion of the transaction, the executive vice president directly owned 945,434 shares of the company's stock, valued at $90,619,848.90. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total value of $216,568.00. Following the completion of the transaction, the executive vice president directly owned 628,318 shares of the company's stock, valued at $61,851,623.92. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,696 shares of company stock valued at $12,222,245. Corporate insiders own 45.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WMT shares. Mizuho lifted their price target on shares of Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, June 9th. Robert W. Baird raised their price objective on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $103.00 price objective (up previously from $102.00) on shares of Walmart in a research report on Monday, June 9th. Finally, Citigroup reissued a "buy" rating on shares of Walmart in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $106.67.

Walmart Stock Performance

Walmart stock traded up $0.85 during mid-day trading on Friday, reaching $97.45. 12,845,633 shares of the company were exchanged, compared to its average volume of 13,524,539. Walmart Inc. has a twelve month low of $66.67 and a twelve month high of $105.30. The firm's 50-day simple moving average is $96.76 and its two-hundred day simple moving average is $94.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78. The firm has a market cap of $777.72 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 4.65 and a beta of 0.68.

Walmart (NYSE:WMT - Get Free Report) last issued its 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 business had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. Equities analysts predict that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

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