Walmart Inc. (NYSE:WMT) Stock Position Trimmed by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Walmart Inc. by 2.6%, owning approximately 24.87 million shares worth over $2.18 billion, making Walmart the fund's 14th largest position.
• Several hedge funds have increased their holdings in Walmart, with notable increases from GAMMA Investing LLC and Goldman Sachs, reflecting growing institutional interest in the retail giant.
• Walmart has reported a quarterly earnings of $0.61 per share, exceeding analyst expectations, and has announced a dividend of $0.235 per share, creating a yield of 90.0% for investors.

Raymond James Financial Inc. cut its position in Walmart Inc. (NYSE:WMT - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,867,400 shares of the retailer's stock after selling 662,501 shares during the quarter. Walmart comprises 0.8% of Raymond James Financial Inc.'s holdings, making the stock its 14th biggest position. Raymond James Financial Inc. owned approximately 0.31% of Walmart worth $2,183,109,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WMT. Nuveen LLC acquired a new position in Walmart during the 1st quarter valued at about $2,532,331,000. GAMMA Investing LLC boosted its holdings in shares of Walmart by 9,896.9% in the first quarter. GAMMA Investing LLC now owns 7,939,728 shares of the retailer's stock worth $697,029,000 after buying an additional 7,860,306 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Walmart by 30.1% in the first quarter. Goldman Sachs Group Inc. now owns 33,292,749 shares of the retailer's stock worth $2,922,770,000 after buying an additional 7,706,201 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in shares of Walmart by 28,684.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 4,229,354 shares of the retailer's stock worth $371,295,000 after buying an additional 4,214,661 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Walmart by 8.9% during the fourth quarter. Northern Trust Corp now owns 43,641,936 shares of the retailer's stock worth $3,943,049,000 after purchasing an additional 3,550,037 shares during the period. 26.76% of the stock is currently owned by institutional investors.

Walmart Price Performance

NYSE WMT opened at $99.96 on Friday. The business has a 50 day simple moving average of $97.60 and a 200 day simple moving average of $95.59. Walmart Inc. has a 52-week low of $72.52 and a 52-week high of $105.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78. The stock has a market cap of $797.72 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 4.84 and a beta of 0.66.

Walmart (NYSE:WMT - Get Free Report) last posted 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 21.76% and a net margin of 2.75%. The business 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 earned $0.60 EPS. Walmart's revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts anticipate that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, September 2nd. Investors 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 dividend payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WMT shares. Mizuho restated an "outperform" rating and set a $115.00 price target on shares of Walmart in a report on Wednesday. Wall Street Zen raised shares of Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. KeyCorp boosted their target price on shares of Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Robert W. Baird boosted their target price on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Oppenheimer boosted their target price on shares of Walmart from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $107.47.

Insider Buying and Selling at Walmart

In other Walmart news, EVP Daniel J. Bartlett sold 1,744 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $95.60, for a total transaction of $166,726.40. Following the completion of the transaction, the executive vice president owned 649,233 shares of the company's stock, valued at $62,066,674.80. This represents a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kathryn J. Mclay sold 4,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.14, for a total value of $380,560.00. Following the transaction, the executive vice president directly owned 1,056,455 shares of the company's stock, valued at approximately $100,511,128.70. This trade represents a 0.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,334 shares of company stock worth $13,913,350 in the last quarter. Company insiders own 0.10% of the company's stock.

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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