Mechanics Bank Trust Department Acquires 9,040 Shares of Walmart Inc. (NYSE:WMT)

Mechanics Bank Trust Department boosted its holdings in Walmart Inc. (NYSE:WMT - Free Report) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 91,852 shares of the retailer's stock after purchasing an additional 9,040 shares during the quarter. Walmart comprises 1.1% of Mechanics Bank Trust Department's holdings, making the stock its 27th largest holding. Mechanics Bank Trust Department's holdings in Walmart were worth $8,064,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. World Investment Advisors increased its holdings in Walmart by 7.6% in the fourth quarter. World Investment Advisors now owns 271,515 shares of the retailer's stock worth $24,532,000 after purchasing an additional 19,233 shares in the last quarter. Candriam S.C.A. grew its stake in Walmart by 209.7% in the fourth quarter. Candriam S.C.A. now owns 885,008 shares of the retailer's stock valued at $79,960,000 after acquiring an additional 599,257 shares during the period. Modera Wealth Management LLC grew its stake in Walmart by 4.8% in the fourth quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer's stock valued at $18,355,000 after acquiring an additional 9,292 shares during the period. Cushing Capital Partners LLC acquired a new stake in Walmart in the fourth quarter valued at approximately $1,124,000. Finally, Campbell Wealth Management acquired a new stake in Walmart in the fourth quarter valued at approximately $359,000. 26.76% of the stock is currently owned by institutional investors.

Walmart Stock Performance

Walmart stock traded up $1.10 during trading on Monday, reaching $99.82. The company had a trading volume of 16,974,523 shares, compared to its average volume of 17,886,141. Walmart Inc. has a 52 week low of $65.16 and a 52 week high of $105.30. The firm's 50-day simple moving average is $93.46 and its 200 day simple moving average is $93.47. The firm has a market capitalization of $798.64 billion, a price-to-earnings ratio of 41.42, a price-to-earnings-growth ratio of 4.42 and a beta of 0.70. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40.

Walmart (NYSE:WMT - Get Free Report) last announced its earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The company had revenue of $165.61 billion for the quarter, compared to analysts' expectations of $164.53 billion. During the same period last year, the firm earned $0.60 EPS. Walmart's revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on WMT shares. Oppenheimer raised their price objective on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Evercore ISI cut their target price on Walmart from $107.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. DA Davidson reaffirmed a "buy" rating and set a $117.00 target price on shares of Walmart in a research report on Friday, May 16th. Finally, Erste Group Bank cut Walmart from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.94.

Insider Buying and Selling

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the sale, the chief executive officer now directly owns 3,972,517 shares of the company's stock, valued at $340,166,630.71. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John D. Rainey sold 2,200 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $97.37, for a total value of $214,214.00. Following the sale, the executive vice president now directly owns 632,718 shares in the company, valued at approximately $61,607,751.66. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,334 shares of company stock valued at $12,615,864. 45.58% of the stock is owned by company insiders.

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.