Rockland Trust Co. Sells 6,601 Shares of Walmart Inc. (NYSE:WMT)

Rockland Trust Co. lowered its stake in Walmart Inc. (NYSE:WMT - Free Report) by 5.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,845 shares of the retailer's stock after selling 6,601 shares during the period. Rockland Trust Co.'s holdings in Walmart were worth $9,556,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WMT. FPC Investment Advisory Inc. acquired a new stake in shares of Walmart in the fourth quarter valued at about $25,000. Horizon Financial Services LLC increased its position in Walmart by 1,007.7% in the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock worth $26,000 after buying an additional 262 shares during the period. Noble Wealth Management PBC bought a new position in Walmart in the 4th quarter worth approximately $37,000. Mizuho Bank Ltd. acquired a new position in shares of Walmart during the fourth quarter worth approximately $41,000. Finally, Nexus Investment Management ULC bought a new stake in shares of Walmart in the first quarter valued at approximately $49,000. Institutional investors own 26.76% of the company's stock.

Insider Activity at Walmart

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the sale, the chief executive officer now directly owns 3,972,517 shares in the company, valued at $340,166,630.71. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Daniel J. Bartlett sold 1,760 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $94.82, for a total transaction of $166,883.20. Following the transaction, the executive vice president now owns 520,275 shares of the company's stock, valued at $49,332,475.50. The trade was a 0.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,534 shares of company stock worth $12,833,664. 45.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Mizuho increased their target price on shares of Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday. Robert W. Baird raised their price objective on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Guggenheim reissued a "buy" rating and set a $100.00 price objective on shares of Walmart in a report on Monday, February 24th. DZ Bank upgraded Walmart from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus decreased their price target on shares of Walmart from $93.00 to $91.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $106.50.

Walmart Trading Down 0.7%

Walmart stock traded down $0.63 during trading hours on Friday, reaching $94.20. 18,672,575 shares of the company's stock traded hands, compared to its average volume of 17,923,078. Walmart Inc. has a fifty-two week low of $66.30 and a fifty-two week high of $105.30. The firm's 50 day moving average is $95.54 and its 200-day moving average is $94.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The firm has a market capitalization of $753.69 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 4.42 and a beta of 0.69.

Walmart (NYSE:WMT - Get Free Report) last released its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 21.87% and a net margin of 2.85%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts predict that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th were paid a $0.235 dividend. The ex-dividend date was Friday, May 9th. This represents a yield of 0.95%. Walmart's payout ratio is 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.