Meridian Wealth Management LLC Sells 16,230 Shares of Walmart Inc. $WMT

Key Points

• Meridian Wealth Management reduced its Walmart stake by 9.3%, selling 16,230 shares and retaining 157,755 shares valued at approximately $17.9 million. Institutional investors collectively own 26.76% of Walmart.
• Walmart’s latest quarterly results met EPS expectations at $0.66 and surpassed revenue estimates with $177.75 billion, up 7.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $138.50.
• Insiders sold 54,164 shares worth about $6.4 million over the past 90 days, while Walmart shares traded near $114.30 and carried a relatively high P/E ratio of 40.11.

Meridian Wealth Management LLC lessened its stake in shares of Walmart Inc. (NASDAQ:WMT - Free Report) by 9.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,755 shares of the retailer's stock after selling 16,230 shares during the quarter. Meridian Wealth Management LLC's holdings in Walmart were worth $17,867,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Walmart by 28.8% during the fourth quarter. Brighton Jones LLC now owns 98,150 shares of the retailer's stock valued at $8,868,000 after acquiring an additional 21,939 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Walmart by 5.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,849 shares of the retailer's stock worth $800,000 after purchasing an additional 485 shares during the last quarter. Peterson Wealth Management grew its stake in shares of Walmart by 3.5% during the 1st quarter. Peterson Wealth Management now owns 50,307 shares of the retailer's stock valued at $4,416,000 after purchasing an additional 1,715 shares during the period. Sivia Capital Partners LLC increased its position in shares of Walmart by 0.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 13,008 shares of the retailer's stock valued at $1,272,000 after purchasing an additional 116 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its position in shares of Walmart by 1.2% during the 2nd quarter. Schnieders Capital Management LLC. now owns 91,341 shares of the retailer's stock valued at $8,931,000 after purchasing an additional 1,048 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP David W. Guggina sold 11,978 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $119.82, for a total value of $1,435,203.96. Following the transaction, the executive vice president directly owned 125,067 shares in the company, valued at $14,985,527.94. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Bartlett sold 3,710 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $113.10, for a total value of $419,601.00. Following the completion of the transaction, the executive vice president directly owned 626,299 shares of the company's stock, valued at approximately $70,834,416.90. This trade represents a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 54,164 shares of company stock worth $6,389,402. 0.09% of the stock is currently owned by insiders.

Walmart Price Performance

NASDAQ WMT opened at $114.30 on Thursday. Walmart Inc. has a 12 month low of $95.42 and a 12 month high of $135.15. The stock has a market cap of $909.61 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 4.31 and a beta of 0.61. The company's 50 day moving average is $114.03 and its two-hundred day moving average is $121.49. The company has a current ratio of 0.77, a quick ratio of 0.23 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 for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $177.75 billion for the quarter, compared to the consensus estimate of $174.84 billion. Walmart had a net margin of 3.13% and a return on equity of 21.25%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, research analysts anticipate that Walmart Inc. will post 2.88 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WMT shares. DA Davidson reissued a "buy" rating and issued a $150.00 price objective on shares of Walmart in a report on Monday. BNP Paribas Exane reduced their target price on shares of Walmart from $147.00 to $146.00 and set an "outperform" rating for the company in a report on Friday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $137.00 price target on shares of Walmart in a research report on Wednesday, August 12th. Mizuho set a $130.00 price target on shares of Walmart in a research note on Monday, July 27th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Walmart in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Walmart presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.50.

Walmart News Roundup

Here are the key news stories impacting Walmart this week:

• Positive Sentiment: Walmart enters the report with a strong earnings track record, having exceeded revenue expectations for 25 consecutive quarters. Analysts also see potential for another earnings beat, supported by e-commerce momentum and a growing contribution from Walmart Connect advertising. Walmart Q2 Preview
• Positive Sentiment: The company’s grocery leadership, expanding online business and higher-margin retail-media operations remain important long-term strengths. Advertising growth could help offset the cost of competitive pricing and faster delivery. DA Davidson also reiterated a Buy rating. Retail stagnates, ad dollars help Walmart stay the course
• Neutral Sentiment: Options traders expect a significant post-earnings move, highlighting elevated volatility and the possibility that results or guidance could materially change the stock’s near-term direction. Barchart data ahead of Walmart earnings
• Negative Sentiment: Thousands of price reductions may support customer traffic but could slow sales growth and pressure profit margins. Same-store sales momentum has moderated, increasing investor dependence on advertising and other higher-margin businesses. Walmart sales growth expected to slow
• Negative Sentiment: Several previews characterize WMT as expensive ahead of earnings, with a price-to-earnings ratio near 40 and a cautious outlook already weighing on sentiment. Investors may require a clear earnings or guidance upside to justify the valuation. Walmart valuation concern ahead of Q2 earnings
• Negative Sentiment: Walmart’s grocery advantage faces a margin test as shoppers increasingly purchase additional goods from Amazon, while elevated costs and cautious consumers could limit profitability. Walmart grocery margin test

About Walmart

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.

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. (NASDAQ: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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source