Walmart Inc. (NYSE:WMT) Stake Lowered by Westpac Banking Corp

Key Points

• Westpac Banking Corp reduced its stake in Walmart Inc. by 12.2%, selling over 5,000 shares, leaving them with a total of 36,246 shares valued at approximately $3.18 million.
• A significant number of institutional investors increased their holdings in Walmart during the first quarter, with Goldman Sachs raising its stake by 30.1%, now owning about 33.3 million shares valued at approximately $2.92 billion.
• Walmart has announced a $0.235 dividend for stockholders, which will be paid on September 2nd, reflecting a dividend yield of 90.0% and a payout ratio of 40.17%.

Westpac Banking Corp cut its stake in Walmart Inc. (NYSE:WMT - Free Report) by 12.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,246 shares of the retailer's stock after selling 5,041 shares during the period. Westpac Banking Corp's holdings in Walmart were worth $3,182,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WMT. Operose Advisors LLC increased its position in Walmart by 319.7% in the first quarter. Operose Advisors LLC now owns 319 shares of the retailer's stock worth $28,000 after buying an additional 243 shares during the period. Bear Mountain Capital Inc. increased its position in Walmart by 98.2% in the first quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock worth $32,000 after buying an additional 167 shares during the period. EQ Wealth Advisors LLC acquired a new stake in Walmart in the first quarter worth $35,000. Lipe & Dalton increased its position in Walmart by 95.2% in the first quarter. Lipe & Dalton now owns 410 shares of the retailer's stock worth $36,000 after buying an additional 200 shares during the period. Finally, Nexus Investment Management ULC acquired a new stake in Walmart in the first quarter worth $49,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Walmart Price Performance

Shares of NYSE:WMT traded down $0.25 on Tuesday, reaching $103.68. 17,913,175 shares of the company traded hands, compared to its average volume of 13,932,130. Walmart Inc. has a fifty-two week low of $67.14 and a fifty-two week high of $105.30. The company's 50 day moving average is $97.46 and its 200-day moving average is $95.51. The stock has a market capitalization of $827.41 billion, a PE ratio of 44.31, a P/E/G ratio of 5.00 and a beta of 0.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22.

Walmart (NYSE:WMT - Get Free Report) last announced its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $164.53 billion. During the same period in the previous year, the business earned $0.60 EPS. The company's revenue was up 2.5% on a year-over-year basis. As a group, analysts anticipate that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.235 per share. This represents a yield of 90.0%. The ex-dividend date of this dividend is Friday, August 15th. Walmart's payout ratio is 40.17%.

Insider Activity at Walmart

In other Walmart news, EVP Daniel J. Bartlett sold 1,744 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $95.60, for a total transaction of $166,726.40. Following the sale, the executive vice president directly owned 649,233 shares of the company's stock, valued at $62,066,674.80. The trade was a 0.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathryn J. Mclay sold 4,000 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.14, for a total transaction of $380,560.00. Following the sale, the executive vice president directly owned 1,056,455 shares in the company, valued at approximately $100,511,128.70. This trade represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,112 shares of company stock worth $14,080,073. Insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Tigress Financial boosted their price target on Walmart from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Erste Group Bank upgraded Walmart from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Mizuho boosted their price target on Walmart from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, June 9th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Finally, KeyCorp boosted their price target on Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a research 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 MarketBeat.com, Walmart has an average rating of "Buy" and an average price target of $106.70.

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.