DAVENPORT & Co LLC Cuts Stake in Walmart Inc. (NYSE:WMT)

DAVENPORT & Co LLC reduced its stake in Walmart Inc. (NYSE:WMT - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,098,078 shares of the retailer's stock after selling 260,704 shares during the quarter. DAVENPORT & Co LLC's holdings in Walmart were worth $95,921,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of WMT. Horizon Financial Services LLC boosted its position in shares of Walmart by 1,007.7% during the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock valued at $26,000 after buying an additional 262 shares during the last quarter. EQ Wealth Advisors LLC purchased a new stake in shares of Walmart in the first quarter valued at about $35,000. Mizuho Bank Ltd. bought a new position in shares of Walmart during the fourth quarter valued at about $41,000. Nexus Investment Management ULC bought a new stake in Walmart in the 1st quarter worth about $49,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Walmart in the 4th quarter valued at about $53,000. Institutional investors own 26.76% of the company's stock.

Insider Buying and Selling

In related news, CEO C Douglas Mcmillon sold 19,416 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $97.19, for a total transaction of $1,887,041.04. Following the completion of the sale, the chief executive officer directly owned 4,431,783 shares in the company, valued at approximately $430,724,989.77. 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 is accessible through this link. Also, EVP Daniel J. Bartlett sold 1,760 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $94.77, for a total transaction of $166,795.20. Following the completion of the transaction, the executive vice president owned 650,977 shares in the company, valued at $61,693,090.29. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 142,711 shares of company stock worth $13,710,319 over the last quarter. Corporate insiders own 45.58% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on WMT. Evercore ISI lifted their price target on Walmart from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Telsey Advisory Group reiterated an "outperform" rating and set a $115.00 target price on shares of Walmart in a research note on Monday, June 9th. Robert W. Baird boosted their price target on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Stifel Nicolaus cut their price objective on shares of Walmart from $93.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, Raymond James Financial lowered their target price on shares of Walmart from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Walmart currently has an average rating of "Moderate Buy" and a consensus target price of $106.67.

Walmart Stock Performance

Shares of WMT traded up $0.41 during mid-day trading on Thursday, reaching $98.02. The company had a trading volume of 4,170,335 shares, compared to its average volume of 18,022,967. 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 stock has a 50 day moving average of $97.02 and a two-hundred day moving average of $94.31. The stock has a market capitalization of $782.27 billion, a P/E ratio of 41.87, a PEG ratio of 4.73 and a beta of 0.68.

Walmart (NYSE:WMT - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $164.53 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Announces Dividend

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

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.