Sunpointe LLC Cuts Holdings in Walmart Inc. (NYSE:WMT)

Key Points

• Sunpointe LLC has reduced its stake in Walmart Inc. by 16.3% in the first quarter, now holding shares worth approximately $1.26 million.
• Walmart's quarterly earnings for Q1 exceeded expectations with $0.61 earnings per share and $165.61 billion in revenue, marking a 2.5% year-over-year increase.
• The company announced a $0.235 dividend, reflecting a yield of 0.95% and a payout ratio of 40.17%.

Sunpointe LLC cut its stake in Walmart Inc. (NYSE:WMT - Free Report) by 16.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,270 shares of the retailer's stock after selling 2,781 shares during the period. Sunpointe LLC's holdings in Walmart were worth $1,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Eagle Bluffs Wealth Management LLC boosted its position in shares of Walmart by 1.6% in the first quarter. Eagle Bluffs Wealth Management LLC now owns 38,722 shares of the retailer's stock valued at $3,408,000 after acquiring an additional 616 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Walmart by 11.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 53,024 shares of the retailer's stock worth $4,655,000 after acquiring an additional 5,425 shares during the last quarter. Brio Consultants LLC raised its stake in shares of Walmart by 424.1% during the first quarter. Brio Consultants LLC now owns 12,221 shares of the retailer's stock worth $1,073,000 after buying an additional 9,889 shares during the last quarter. University of Texas Texas AM Investment Management Co. increased its stake in shares of Walmart by 41.3% in the 1st quarter. University of Texas Texas AM Investment Management Co. now owns 148,621 shares of the retailer's stock valued at $13,047,000 after acquiring an additional 43,475 shares during the last quarter. Finally, Richards Merrill & Peterson Inc. increased its stake in Walmart by 3.2% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 14,551 shares of the retailer's stock worth $1,277,000 after purchasing an additional 458 shares in the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.

Walmart Trading Up 0.4%

NYSE WMT traded up $0.35 during trading hours on Thursday, hitting $97.94. 6,195,183 shares of the company's stock were exchanged, compared to its average volume of 19,108,686. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78. The firm has a market capitalization of $781.57 billion, a P/E ratio of 41.82, a price-to-earnings-growth ratio of 4.73 and a beta of 0.68. The business's 50 day moving average is $96.78 and its 200-day moving average is $94.93. 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 announced 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, analysts anticipate that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Daniel J. Bartlett sold 1,744 shares of Walmart stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $95.60, for a total value of $166,726.40. Following the completion of the transaction, the executive vice president directly owned 649,233 shares in the company, valued at approximately $62,066,674.80. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total value of $216,568.00. Following the sale, the executive vice president directly owned 628,318 shares of the company's stock, valued at approximately $61,851,623.92. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,912 shares of company stock valued at $13,863,813 over the last 90 days. Company insiders own 45.58% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WMT shares. Evercore ISI raised their price target on shares of Walmart from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Citigroup restated a "buy" rating on shares of Walmart in a research note on Tuesday, May 6th. UBS Group dropped their price objective on shares of Walmart from $112.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Sanford C. Bernstein restated an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Finally, Raymond James Financial lowered their target price on Walmart from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Two 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 company's stock. According to data from MarketBeat, Walmart currently has an average rating of "Moderate Buy" and an average target price 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.