SouthState Corp Sells 9,211 Shares of Walmart Inc. (NYSE:WMT)

Key Points

• SouthState Corp has reduced its stake in Walmart to 251,292 shares, worth approximately $22.06 million, accounting for about 1.0% of its portfolio.
• Walmart's stock analysts maintain a positive outlook, with an average rating of "Buy" and a consensus price target of $106.67.
• Shares of Walmart were reported at $103.77, with a 12-month high of $105.30 and a low of $67.14.

SouthState Corp lessened its holdings in Walmart Inc. (NYSE:WMT - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 251,292 shares of the retailer's stock after selling 9,211 shares during the period. Walmart makes up 1.0% of SouthState Corp's portfolio, making the stock its 23rd biggest position. SouthState Corp's holdings in Walmart were worth $22,061,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WMT. Whelan Financial increased its holdings in shares of Walmart by 2.3% during the fourth quarter. Whelan Financial now owns 4,339 shares of the retailer's stock worth $392,000 after buying an additional 97 shares in the last quarter. Bedel Financial Consulting Inc. increased its holdings in shares of Walmart by 0.4% during the first quarter. Bedel Financial Consulting Inc. now owns 25,915 shares of the retailer's stock worth $2,275,000 after buying an additional 102 shares in the last quarter. Scott & Selber Inc. increased its holdings in shares of Walmart by 3.7% during the first quarter. Scott & Selber Inc. now owns 2,920 shares of the retailer's stock worth $256,000 after buying an additional 105 shares in the last quarter. Capital Advisors Wealth Management LLC increased its holdings in shares of Walmart by 1.4% during the first quarter. Capital Advisors Wealth Management LLC now owns 7,794 shares of the retailer's stock worth $684,000 after buying an additional 105 shares in the last quarter. Finally, Lauterbach Financial Advisors LLC increased its holdings in shares of Walmart by 1.8% during the first quarter. Lauterbach Financial Advisors LLC now owns 5,885 shares of the retailer's stock worth $517,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company's stock.

Insider Transactions at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 19,416 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $95.58, for a total value of $1,855,781.28. Following the completion of the sale, the chief executive officer owned 4,412,398 shares of the company's stock, valued at $421,737,000.84. The trade was a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel J. Bartlett sold 1,744 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $95.60, for a total transaction of $166,726.40. Following the completion of the sale, the executive vice president directly owned 649,233 shares of the company's stock, valued at $62,066,674.80. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,112 shares of company stock worth $14,080,073. Company insiders own 0.10% of the company's stock.

Walmart Stock Up 0.6%

WMT stock traded up $0.65 during midday trading on Friday, hitting $103.77. The company's stock had a trading volume of 12,392,140 shares, compared to its average volume of 13,978,248. The stock has a market capitalization of $828.13 billion, a P/E ratio of 44.35, a PEG ratio of 4.99 and a beta of 0.66. The company's fifty day moving average price is $97.30 and its 200 day moving average price is $95.39. Walmart Inc. has a twelve month low of $67.14 and a twelve month high of $105.30. 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 (NYSE:WMT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. Walmart had a net margin of 2.75% and a return on equity of 21.76%. Walmart's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, equities research analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Walmart from $107.00 to $111.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Telsey Advisory Group reissued an "outperform" rating and issued a $115.00 price target on shares of Walmart in a report on Monday, June 9th. KeyCorp raised their price target on shares of Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Citigroup reissued a "buy" rating on shares of Walmart in a report on Tuesday, May 6th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a report on Monday, May 5th. One investment analyst has rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $106.67.

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.