Novare Capital Management LLC Reduces Stock Position in Walmart Inc. $WMT

Key Points

• Novare Capital Management cut its Walmart stake by 7.6% in the first quarter, selling 25,457 shares and leaving it with 311,327 shares worth about $38.7 million.
• Several large institutional investors remain heavily invested in Walmart, with Vanguard, State Street, Geode, and Norges Bank among the biggest holders, and institutions and hedge funds owning 26.76% of the stock.
• Walmart continues to draw positive business momentum from developments including a planned acquisition of Vibe.co to expand connected-TV advertising, new store expansion for brands like Shapermint, and a long-term nuclear power deal to support operations.

Novare Capital Management LLC lowered its stake in Walmart Inc. (NASDAQ:WMT - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 311,327 shares of the retailer's stock after selling 25,457 shares during the period. Walmart makes up about 3.1% of Novare Capital Management LLC's investment portfolio, making the stock its 6th largest holding. Novare Capital Management LLC's holdings in Walmart were worth $38,692,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Walmart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 439,957,146 shares of the retailer's stock valued at $49,015,626,000 after buying an additional 4,304,436 shares during the period. State Street Corp boosted its stake in shares of Walmart by 1.2% during the 3rd quarter. State Street Corp now owns 184,805,978 shares of the retailer's stock worth $19,046,104,000 after acquiring an additional 2,242,364 shares in the last quarter. Geode Capital Management LLC boosted its position in Walmart by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 103,010,709 shares of the retailer's stock worth $11,426,753,000 after purchasing an additional 6,517,394 shares during the period. Norges Bank bought a new position in Walmart in the 4th quarter worth $6,458,529,000. Finally, Fisher Asset Management LLC lifted its position in shares of Walmart by 0.8% during the 4th quarter. Fisher Asset Management LLC now owns 40,626,852 shares of the retailer's stock worth $4,526,238,000 after purchasing an additional 328,229 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart News Summary

Here are the key news stories impacting Walmart this week:

• Positive Sentiment: Walmart plans to acquire Vibe.co to make connected-TV advertising more accessible for smaller advertisers and marketplace sellers, a move that could boost retail media revenue and deepen monetization of Walmart Connect. Article Title
• Positive Sentiment: Shapermint’s expansion into 1,600 additional Walmart stores highlights continued strength in Walmart’s physical retail reach and its ability to attract growing consumer brands. Article Title
• Positive Sentiment: Walmart’s long-term nuclear power deal with Constellation supports lower-carbon, reliable energy for logistics operations and signals a broader push to secure cost-stable power for its supply chain. Article Title
• Neutral Sentiment: EVP Christopher James Nicholas sold 2,900 shares under a pre-arranged trading plan, which is routine and appears limited relative to his overall holdings. Article Title
• Neutral Sentiment: Walmart-backed Flipkart’s quick-commerce expansion in India adds to the company’s international growth narrative, but it is an indirect catalyst for WMT shares. Article Title

Insiders Place Their Bets

In related news, EVP Latriece Watkins sold 11,000 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $118.97, for a total value of $1,308,670.00. Following the completion of the sale, the executive vice president directly owned 120,203 shares of the company's stock, valued at $14,300,550.91. The trade was a 8.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel J. Bartlett sold 1,385 shares of Walmart stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $119.83, for a total value of $165,964.55. Following the transaction, the executive vice president owned 633,784 shares of the company's stock, valued at $75,946,336.72. This trade represents a 0.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 100,730 shares of company stock valued at $12,444,624. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wolfe Research reissued an "outperform" rating and set a $137.00 target price (up from $135.00) on shares of Walmart in a research report on Monday, May 11th. BTIG Research restated a "buy" rating and set a $145.00 target price on shares of Walmart in a report on Wednesday, June 3rd. Craig Hallum set a $150.00 price objective on shares of Walmart in a research report on Friday, March 6th. BNP Paribas Exane reduced their target price on shares of Walmart from $147.00 to $146.00 and set an "outperform" rating on the stock in a research note on Friday, May 22nd. Finally, Truist Financial set a $140.00 target price on Walmart in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.85.

Walmart Stock Down 0.3%

Shares of NASDAQ WMT opened at $119.04 on Thursday. The stock has a 50-day moving average price of $124.11 and a two-hundred day moving average price of $122.21. The company has a market cap of $947.30 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 4.46 and a beta of 0.59. Walmart Inc. has a 12 month low of $94.23 and a 12 month high of $135.15. 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 data on Thursday, May 21st. The retailer reported $0.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.66. Walmart had a net margin of 3.13% and a return on equity of 21.25%. The business had revenue of $177.75 billion during the quarter, compared to analyst estimates of $174.84 billion. During the same quarter last year, the business earned $0.61 EPS. The firm's quarterly revenue was up 7.4% on a year-over-year basis. Walmart has set its FY 2027 guidance at 2.750-2.850 EPS and its Q2 2027 guidance at 0.720-0.740 EPS. As a group, analysts forecast that Walmart Inc. will post 2.89 earnings per share for the current fiscal year.

Walmart Profile

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.

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