Martingale Asset Management L P Sells 26,731 Shares of Walmart Inc. $WMT

Key Points

• Martingale Asset Management has reduced its stake in Walmart Inc. by 5.4%, selling 26,731 shares during the first quarter, leaving it with 467,017 shares that represent 1.0% of its investment portfolio.
• Walmart recently announced a dividend of $0.235 per share, which will be paid on September 2nd, with a dividend yield of 90.0% and a payout ratio of 40.17%.
• Walmart's stock has seen analyst price target increases, with Truist Financial raising it from $107.00 to $111.00, and Oppenheimer from $110.00 to $115.00, reflecting strong market interest in the retailer.

Martingale Asset Management L P cut its position in Walmart Inc. (NYSE:WMT - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,017 shares of the retailer's stock after selling 26,731 shares during the quarter. Walmart comprises 1.0% of Martingale Asset Management L P's investment portfolio, making the stock its 13th biggest position. Martingale Asset Management L P's holdings in Walmart were worth $40,999,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WMT. PGIM Custom Harvest LLC grew its position in Walmart by 13.9% during the first quarter. PGIM Custom Harvest LLC now owns 7,445 shares of the retailer's stock worth $654,000 after buying an additional 909 shares in the last quarter. Stoneridge Investment Partners LLC grew its holdings in shares of Walmart by 32.3% during the first quarter. Stoneridge Investment Partners LLC now owns 18,394 shares of the retailer's stock worth $1,615,000 after purchasing an additional 4,489 shares in the last quarter. Joseph P. Lucia & Associates LLC bought a new position in shares of Walmart in the first quarter worth approximately $300,000. TFB Advisors LLC increased its position in shares of Walmart by 3.4% in the first quarter. TFB Advisors LLC now owns 15,691 shares of the retailer's stock worth $1,378,000 after purchasing an additional 514 shares during the last quarter. Finally, Aspire Growth Partners LLC raised its stake in Walmart by 48.4% in the first quarter. Aspire Growth Partners LLC now owns 24,359 shares of the retailer's stock valued at $2,138,000 after purchasing an additional 7,943 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company's stock.

Walmart Stock Up 1.1%

WMT stock opened at $102.3860 on Thursday. Walmart Inc. has a fifty-two week low of $74.59 and a fifty-two week high of $105.30. The company has a market capitalization of $817.08 billion, a price-to-earnings ratio of 43.75, a price-to-earnings-growth ratio of 4.86 and a beta of 0.66. The business's 50 day moving average price is $97.88 and its two-hundred day moving average price is $95.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78.

Walmart Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 90.0%. Walmart's dividend payout ratio (DPR) is currently 40.17%.

Insider Activity

In related news, EVP Kathryn J. Mclay sold 4,000 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.14, for a total value of $380,560.00. Following the completion of the transaction, the executive vice president directly owned 1,056,455 shares in the company, valued at $100,511,128.70. This trade represents a 0.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,655 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $100.38, for a total transaction of $166,128.90. Following the sale, the executive vice president owned 647,578 shares of the company's stock, valued at approximately $65,003,879.64. This represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,841 shares of company stock worth $8,161,365. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WMT has been the subject of a number of research reports. Truist Financial boosted their price target on shares of Walmart from $107.00 to $111.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Oppenheimer upped their target price on shares of Walmart from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada restated an "outperform" rating and set a $103.00 price target (up previously from $102.00) on shares of Walmart in a research report on Monday, June 9th. Citigroup reaffirmed a "buy" rating on shares of Walmart in a research note on Tuesday, May 6th. Finally, Robert W. Baird boosted their target price on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $109.89.

Walmart Company 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.

Want to see what other hedge funds are holding WMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walmart Inc. (NYSE:WMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.