Walmart Inc. (NYSE:WMT) Shares Sold by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. TN has reduced its stake in Walmart Inc. by 2.1%, selling 5,226 shares and maintaining 240,300 shares, which constitutes about 1.4% of its investment portfolio.
• Several institutional investors have increased their positions in Walmart, including Geode Capital Management and Northern Trust Corp, reflecting overall institutional ownership of 26.76% of the stock.
• Walmart recently announced a quarterly earnings report showing $0.61 EPS, exceeding expectations, with a revenue of $165.61 billion, up 2.5% year-over-year.

Patten & Patten Inc. TN lessened its position in Walmart Inc. (NYSE:WMT - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,300 shares of the retailer's stock after selling 5,226 shares during the quarter. Walmart comprises 1.4% of Patten & Patten Inc. TN's holdings, making the stock its 15th largest position. Patten & Patten Inc. TN's holdings in Walmart were worth $21,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kinsale Capital Group Inc. lifted its position in shares of Walmart by 2.4% in the first quarter. Kinsale Capital Group Inc. now owns 135,321 shares of the retailer's stock valued at $11,880,000 after acquiring an additional 3,230 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Walmart in the first quarter valued at approximately $640,000. Pin Oak Investment Advisors Inc. lifted its position in shares of Walmart by 4.4% in the first quarter. Pin Oak Investment Advisors Inc. now owns 16,637 shares of the retailer's stock valued at $1,480,000 after acquiring an additional 700 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in Walmart by 43.6% during the first quarter. Foundations Investment Advisors LLC now owns 133,149 shares of the retailer's stock worth $11,689,000 after buying an additional 40,397 shares in the last quarter. Finally, KFA Private Wealth Group LLC lifted its position in Walmart by 14.9% during the first quarter. KFA Private Wealth Group LLC now owns 6,479 shares of the retailer's stock worth $569,000 after buying an additional 838 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WMT shares. Robert W. Baird lifted their price objective on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Stifel Nicolaus reduced their price objective on Walmart from $93.00 to $91.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. KeyCorp lifted their target price on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Sanford C. Bernstein restated an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Finally, Mizuho lifted their target price on Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.67.

Walmart Stock Performance

WMT traded up $0.51 on Thursday, hitting $98.10. 7,107,643 shares of the company traded hands, compared to its average volume of 19,114,229. The company has a 50 day moving average of $96.78 and a 200-day moving average of $94.93. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $782.87 billion, a PE ratio of 41.91, a PEG ratio of 4.73 and a beta of 0.68. Walmart Inc. has a 12-month low of $66.67 and a 12-month high of $105.30.

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

Walmart Announces Dividend

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

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 value of $1,258,031.25. Following the sale, the executive vice president owned 945,434 shares in the company, valued at $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 available at this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $98.44, for a total value of $216,568.00. Following the completion of the sale, the executive vice president owned 628,318 shares in the company, valued at approximately $61,851,623.92. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,912 shares of company stock valued at $13,863,813. Corporate insiders own 45.58% of the company's stock.

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.