Vestcor Inc Reduces Position in Walmart Inc. (NYSE:WMT)

Key Points

• Vestcor Inc has reduced its stake in Walmart by 15.0%, now owning approximately 384,725 shares, making Walmart its 7th largest holding valued at $33.78 million.
• Several hedge funds have recently increased their positions in Walmart, with Bear Mountain Capital boosting its holdings by 98.2% in the 1st quarter.
• Walmart's stock was trading at $98.37, with an average target price from analysts set at $106.67, reflecting a consensus rating of "Moderate Buy".

Vestcor Inc cut its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,725 shares of the retailer's stock after selling 68,049 shares during the period. Walmart accounts for about 1.1% of Vestcor Inc's investment portfolio, making the stock its 7th largest position. Vestcor Inc's holdings in Walmart were worth $33,775,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WMT. Whelan Financial boosted its stake in Walmart by 2.3% in the 4th quarter. Whelan Financial now owns 4,339 shares of the retailer's stock valued at $392,000 after buying an additional 97 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Walmart by 1.7% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,937 shares of the retailer's stock valued at $538,000 after buying an additional 98 shares in the last quarter. Bedel Financial Consulting Inc. boosted its stake in Walmart by 0.4% in the 1st quarter. Bedel Financial Consulting Inc. now owns 25,915 shares of the retailer's stock valued at $2,275,000 after buying an additional 102 shares in the last quarter. Scott & Selber Inc. boosted its stake in Walmart by 3.7% in the 1st quarter. Scott & Selber Inc. now owns 2,920 shares of the retailer's stock valued at $256,000 after buying an additional 105 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC boosted its stake in Walmart by 1.4% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 7,794 shares of the retailer's stock valued at $684,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company's stock.

Walmart Stock Down 0.8%

NYSE:WMT traded down $0.74 during trading hours on Wednesday, reaching $97.59. 13,844,039 shares of the stock were exchanged, compared to its average volume of 12,240,789. Walmart Inc. has a twelve month low of $66.67 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. The firm has a 50 day moving average of $96.78 and a 200 day moving average of $94.93. The stock has a market cap of $778.81 billion, a PE ratio of 41.71, a PEG ratio of 4.73 and a beta of 0.68.

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

Walmart Announces Dividend

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

Analyst Ratings Changes

WMT has been the subject of several research analyst reports. Mizuho lifted their price objective on Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, June 9th. Stifel Nicolaus cut their price objective on Walmart from $93.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Evercore ISI lifted their price objective on Walmart from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Walmart has a consensus rating of "Moderate Buy" and a consensus target price of $106.67.

Insider Buying and Selling

In related news, EVP John R. Furner sold 13,125 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $95.85, for a total transaction of $1,258,031.25. Following the completion of the transaction, the executive vice president directly owned 945,434 shares of the company's stock, valued at approximately $90,619,848.90. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,148 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total value of $2,815,113.84. Following the transaction, the chief executive officer directly owned 4,451,199 shares of the company's stock, valued at $429,896,799.42. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,112 shares of company stock valued at $14,078,027. 45.58% of the stock is currently owned by company insiders.

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.