Novare Capital Management LLC Has $31.07 Million Stake in Walmart Inc. (NYSE:WMT)

Novare Capital Management LLC lowered its position in Walmart Inc. (NYSE:WMT - Free Report) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,905 shares of the retailer's stock after selling 23,240 shares during the quarter. Walmart accounts for approximately 2.7% of Novare Capital Management LLC's holdings, making the stock its 5th biggest holding. Novare Capital Management LLC's holdings in Walmart were worth $31,069,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Adell Harriman & Carpenter Inc. increased its position in shares of Walmart by 3.2% in the first quarter. Adell Harriman & Carpenter Inc. now owns 164,353 shares of the retailer's stock valued at $14,429,000 after buying an additional 5,064 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Walmart by 8.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 366,361 shares of the retailer's stock worth $32,163,000 after purchasing an additional 29,475 shares in the last quarter. Seascape Capital Management increased its position in Walmart by 14.7% during the 1st quarter. Seascape Capital Management now owns 4,735 shares of the retailer's stock worth $416,000 after purchasing an additional 608 shares in the last quarter. World Investment Advisors increased its position in Walmart by 5.1% during the 1st quarter. World Investment Advisors now owns 285,291 shares of the retailer's stock worth $25,046,000 after purchasing an additional 13,776 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in Walmart during the 1st quarter worth about $103,000. Hedge funds and other institutional investors own 26.76% of the company's stock.

Walmart Stock Up 0.7%

Walmart stock traded up $0.68 during midday trading on Friday, hitting $98.29. 7,686,204 shares of the company were exchanged, compared to its average volume of 18,068,909. The company's fifty day moving average price is $97.14 and its 200-day moving average price is $94.36. The company has a market cap of $784.40 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 4.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22. Walmart Inc. has a fifty-two week low of $66.67 and a fifty-two week high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last announced its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The company had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same period in the prior year, the company posted $0.60 EPS. Walmart's quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Dividend Announcement

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

Wall Street Analyst Weigh In

WMT has been the subject of a number of recent research reports. Citigroup reiterated a "buy" rating on shares of Walmart in a research report on Tuesday, May 6th. Wall Street Zen upgraded Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. The Goldman Sachs Group restated a "buy" rating on shares of Walmart in a report on Wednesday, March 26th. Tigress Financial lifted their price target on Walmart from $115.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Mizuho lifted their price target on Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $106.67.

Insiders Place Their Bets

In related news, EVP John R. Furner sold 13,125 shares of the company'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 transaction of $1,258,031.25. Following the sale, the executive vice president directly owned 945,434 shares of the company's stock, valued at approximately $90,619,848.90. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,148 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total value of $2,815,113.84. Following the sale, the chief executive officer directly owned 4,451,199 shares in the company, valued at approximately $429,896,799.42. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,711 shares of company stock valued at $13,710,319. Company insiders own 45.58% of the company's stock.

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.