Walmart Inc. (NYSE:WMT) Shares Sold by Cornerstone Advisors LLC

Key Points

• Cornerstone Advisors LLC reduced its holdings in Walmart Inc. by 11.7%, owning 318,400 shares valued at approximately $27.95 million after selling 42,100 shares.
• Walmart reported $165.61 billion in revenue for the quarter, exceeding analyst expectations, and posted earnings per share of $0.61, beating estimates by $0.03.
• Several analysts have upgraded Walmart's stock ratings, including Oppenheimer raising its price target from $100 to $110, indicating a strong sentiment on the company's performance.

Cornerstone Advisors LLC lessened its holdings in Walmart Inc. (NYSE:WMT - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 318,400 shares of the retailer's stock after selling 42,100 shares during the period. Walmart makes up 1.2% of Cornerstone Advisors LLC's investment portfolio, making the stock its 17th largest position. Cornerstone Advisors LLC's holdings in Walmart were worth $27,952,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WMT. Vanguard Group Inc. raised its holdings in shares of Walmart by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 425,961,042 shares of the retailer's stock valued at $37,395,120,000 after buying an additional 3,224,154 shares during the period. Northern Trust Corp raised its holdings in shares of Walmart by 8.9% in the 4th quarter. Northern Trust Corp now owns 43,641,936 shares of the retailer's stock valued at $3,943,049,000 after buying an additional 3,550,037 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Walmart by 30.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,292,749 shares of the retailer's stock valued at $2,922,770,000 after buying an additional 7,706,201 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Walmart by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 29,843,892 shares of the retailer's stock valued at $2,696,396,000 after buying an additional 233,040 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Walmart by 11.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,917,346 shares of the retailer's stock valued at $2,341,632,000 after buying an additional 2,643,413 shares during the period. Institutional investors and hedge funds own 26.76% of the company's stock.

Walmart Price Performance

Shares of NYSE:WMT opened at $99.21 on Wednesday. The company has a market cap of $791.74 billion, a P/E ratio of 42.40, a P/E/G ratio of 4.79 and a beta of 0.66. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. Walmart Inc. has a 52 week low of $66.67 and a 52 week high of $105.30. The business has a fifty day simple moving average of $96.95 and a 200-day simple moving average of $95.16.

Walmart (NYSE:WMT - Get Free Report) last issued its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $164.53 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Walmart Inc. will post 2.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Oppenheimer upped their price target on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Raymond James Financial cut their price target on Walmart from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. UBS Group cut their price target on Walmart from $112.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Sanford C. Bernstein restated an "outperform" rating on shares of Walmart in a report on Monday, May 5th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $115.00 price target on shares of Walmart in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Walmart has an average rating of "Buy" and an average price target of $106.67.

Insiders Place Their Bets

In related news, EVP Kathryn J. Mclay sold 28,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $97.00, for a total value of $2,716,000.00. Following the transaction, the executive vice president owned 1,064,455 shares in the company, valued at approximately $103,252,135. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John D. Rainey sold 2,200 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $98.44, for a total value of $216,568.00. Following the completion of the transaction, the executive vice president owned 628,318 shares in the company, 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. In the last ninety days, insiders have sold 146,112 shares of company stock worth $14,080,073. 45.58% of the stock is owned by insiders.

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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