Summit Global Investments Sells 22,361 Shares of Walmart Inc. (NYSE:WMT)

Summit Global Investments cut its holdings in shares of Walmart Inc. (NYSE:WMT - Free Report) by 34.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,440 shares of the retailer's stock after selling 22,361 shares during the period. Summit Global Investments' holdings in Walmart were worth $3,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors increased its stake in shares of Walmart by 7.6% in the fourth quarter. World Investment Advisors now owns 271,515 shares of the retailer's stock valued at $24,532,000 after buying an additional 19,233 shares in the last quarter. Candriam S.C.A. raised its stake in shares of Walmart by 209.7% in the fourth quarter. Candriam S.C.A. now owns 885,008 shares of the retailer's stock worth $79,960,000 after acquiring an additional 599,257 shares during the last quarter. Modera Wealth Management LLC lifted its position in shares of Walmart by 4.8% during the fourth quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer's stock worth $18,355,000 after purchasing an additional 9,292 shares in the last quarter. Cushing Capital Partners LLC bought a new stake in shares of Walmart during the fourth quarter valued at approximately $1,124,000. Finally, Campbell Wealth Management acquired a new stake in shares of Walmart in the fourth quarter valued at approximately $359,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Walmart

In other news, CEO C Douglas Mcmillon sold 29,148 shares of the business'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 sale, the chief executive officer now owns 4,451,199 shares of the company's stock, valued at $429,896,799.42. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kathryn J. Mclay sold 4,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $85.95, for a total transaction of $343,800.00. Following the completion of the transaction, the executive vice president now directly owns 888,309 shares of the company's stock, valued at approximately $76,350,158.55. This trade represents a 0.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,334 shares of company stock valued at $12,615,864. 45.58% of the stock is owned by insiders.

Walmart Stock Up 1.5%

Shares of NYSE:WMT traded up $1.47 during midday trading on Friday, reaching $98.57. 29,968,085 shares of the company were exchanged, compared to its average volume of 17,929,072. The firm has a market cap of $788.65 billion, a PE ratio of 40.90, a P/E/G ratio of 4.42 and a beta of 0.70. Walmart Inc. has a fifty-two week low of $64.16 and a fifty-two week high of $105.30. The stock has a fifty day simple moving average of $93.46 and a two-hundred day simple moving average of $93.36. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40.

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, topping analysts' consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The firm had revenue of $165.61 billion during the quarter, compared to analysts' expectations of $164.53 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The company's revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 12th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart's payout ratio is presently 40.17%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $115.00 price objective (up previously from $106.00) on shares of Walmart in a report on Thursday, February 13th. Piper Sandler boosted their target price on Walmart from $93.00 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Telsey Advisory Group reiterated an "outperform" rating on shares of Walmart in a report on Wednesday, May 21st. The Goldman Sachs Group reissued a "buy" rating on shares of Walmart in a report on Wednesday, March 26th. Finally, Robert W. Baird upped their target price on shares of Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.94.

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.