Bridges Investment Management Inc. Sells 5,321 Shares of Walmart Inc. (NYSE:WMT)

Bridges Investment Management Inc. reduced its stake in Walmart Inc. (NYSE:WMT - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,068 shares of the retailer's stock after selling 5,321 shares during the quarter. Bridges Investment Management Inc.'s holdings in Walmart were worth $7,644,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Horizon Financial Services LLC raised its position in Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock valued at $26,000 after purchasing an additional 262 shares during the period. EQ Wealth Advisors LLC purchased a new position in shares of Walmart in the first quarter valued at $35,000. Mizuho Bank Ltd. purchased a new position in Walmart in the 4th quarter valued at about $41,000. Nexus Investment Management ULC acquired a new stake in shares of Walmart during the first quarter valued at about $49,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Walmart during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 26.76% of the company's stock.

Analyst Upgrades and Downgrades

WMT has been the topic of several research reports. UBS Group dropped their price target on Walmart from $112.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wall Street Zen upgraded shares of Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Truist Financial boosted their price objective on shares of Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Evercore ISI raised their target price on shares of Walmart from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $115.00 target price on shares of Walmart in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.67.

Insider Buying and Selling

In related news, CEO C Douglas Mcmillon sold 29,148 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer owned 4,451,199 shares in the company, valued at $429,896,799.42. This represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $99.00, for a total value of $217,800.00. Following the completion of the sale, the executive vice president directly owned 630,518 shares in the company, valued at approximately $62,421,282. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,711 shares of company stock worth $13,710,319. Corporate insiders own 45.58% of the company's stock.

Walmart Stock Down 0.1%

WMT traded down $0.14 during midday trading on Wednesday, hitting $96.95. 13,682,144 shares of the company's stock traded hands, compared to its average volume of 18,083,237. Walmart Inc. has a one year low of $66.67 and a one year high of $105.30. The stock's fifty day simple moving average is $97.24 and its 200-day simple moving average is $94.43. 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 company has a market cap of $773.70 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 4.67 and a beta of 0.68.

Walmart (NYSE:WMT - Get Free Report) last released its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. The firm 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 was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. As a group, equities analysts anticipate that Walmart Inc. will post 2.55 earnings per share for the current fiscal 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 $0.235 dividend. 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 presently 40.17%.

Walmart 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.