True North Advisors LLC Decreases Holdings in Walmart Inc. (NYSE:WMT)

Key Points

• True North Advisors LLC reduced its stake in Walmart Inc. by 46.7%, selling 5,572 shares and now holding 6,357 shares valued at approximately $558,000.
• Walmart reported earnings per share of $0.61 for the last quarter, exceeding analysts' expectations of $0.58, and its revenue increased 2.5% year-over-year.
• Analysts have raised their price targets for Walmart, with estimates now ranging from $110.00 to $115.00, and the stock holds an average rating of "Buy."

True North Advisors LLC trimmed its stake in shares of Walmart Inc. (NYSE:WMT - Free Report) by 46.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,357 shares of the retailer's stock after selling 5,572 shares during the period. True North Advisors LLC's holdings in Walmart were worth $558,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bear Mountain Capital Inc. raised its position in shares of Walmart by 98.2% in the first quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock valued at $32,000 after buying an additional 167 shares during the last quarter. EQ Wealth Advisors LLC acquired a new stake in Walmart during the first quarter worth about $35,000. Lipe & Dalton increased its position in Walmart by 95.2% during the first quarter. Lipe & Dalton now owns 410 shares of the retailer's stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Nexus Investment Management ULC acquired a new stake in Walmart during the first quarter worth about $49,000. Finally, Vega Investment Solutions acquired a new stake in Walmart during the fourth quarter worth about $54,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Up 0.6%

WMT stock opened at $103.77 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. Walmart Inc. has a twelve month low of $67.14 and a twelve month high of $105.30. The company's 50 day moving average is $97.30 and its two-hundred day moving average is $95.37. The stock has a market cap of $828.13 billion, a P/E ratio of 44.35, a PEG ratio of 4.96 and a beta of 0.66.

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 analysts' consensus estimates of $0.58 by $0.03. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The company had revenue of $165.61 billion for the quarter, compared to analysts' expectations of $164.53 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. KeyCorp raised their price objective on shares of Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Mizuho raised their price objective on shares of Walmart from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, June 9th. Oppenheimer raised their price objective on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Sanford C. Bernstein restated an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Finally, 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 research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Walmart currently has an average rating of "Buy" and an average target price of $106.67.

Insider Activity at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 19,416 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $95.58, for a total transaction of $1,855,781.28. Following the sale, the chief executive officer owned 4,412,398 shares of the company's stock, valued at approximately $421,737,000.84. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction on Friday, August 1st. The shares were sold at an average price of $98.30, for a total transaction of $216,260.00. Following the completion of the transaction, the executive vice president directly owned 626,118 shares in the company, valued at $61,547,399.40. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,112 shares of company stock valued at $14,080,073 in the last quarter. 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.

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