Walmart (NYSE:WMT) Trading Down 2.3% - Here's What Happened

Walmart Inc. (NYSE:WMT - Get Free Report) traded down 2.3% on Tuesday . The stock traded as low as $96.61 and last traded at $97.04. 3,328,199 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 17,994,238 shares. The stock had previously closed at $99.35.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Robert W. Baird increased their target price on shares of Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Walmart from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $103.00 target price (up previously from $102.00) on shares of Walmart in a research note on Monday, June 9th. Tigress Financial increased their price target on shares of Walmart from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, UBS Group dropped their price target on shares of Walmart from $112.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.67.

Walmart Stock Down 0.8%

The business's fifty day simple moving average is $97.24 and its 200 day simple moving average is $94.45. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. The stock has a market cap of $766.30 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 4.67 and a beta of 0.68.

Walmart (NYSE:WMT - Get Free Report) last released its earnings results on Thursday, May 15th. The retailer reported $0.61 EPS 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 firm had revenue of $165.61 billion during the quarter, compared to analyst estimates of $164.53 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

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

Insider Activity

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 completion of the transaction, the chief executive officer owned 4,451,199 shares of the company's stock, valued at $429,896,799.42. The trade was a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathryn J. Mclay sold 28,000 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $97.00, for a total transaction of $2,716,000.00. Following the completion of the transaction, the executive vice president directly owned 1,064,455 shares of the company's stock, valued at $103,252,135. This trade represents a 2.56% decrease in their position. 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.

Hedge Funds Weigh In On Walmart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Walmart by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 425,961,042 shares of the retailer's stock worth $37,395,120,000 after purchasing an additional 3,224,154 shares during the period. Geode Capital Management LLC boosted its stake in Walmart by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 90,635,238 shares of the retailer's stock worth $8,167,186,000 after purchasing an additional 3,017,829 shares during the period. Norges Bank acquired a new position in Walmart in the 4th quarter worth $5,737,355,000. Northern Trust Corp boosted its stake in Walmart by 8.9% in the 4th 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. Finally, Franklin Resources Inc. boosted its stake in Walmart by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 42,015,818 shares of the retailer's stock worth $3,796,129,000 after purchasing an additional 514,036 shares during the period. 26.76% of the stock is owned by institutional investors and hedge funds.

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.