Concord Wealth Partners Sells 16,001 Shares of Walmart Inc. (NYSE:WMT)

Concord Wealth Partners reduced its holdings in Walmart Inc. (NYSE:WMT) by 37.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 27,209 shares of the retailer’s stock after selling 16,001 shares during the quarter. Concord Wealth Partners’ holdings in Walmart were worth $2,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC boosted its holdings in Walmart by 4.2% during the first quarter. Ascent Wealth Partners LLC now owns 129,357 shares of the retailer’s stock worth $11,356,000 after purchasing an additional 5,178 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Walmart by 1.1% during the first quarter. Verdence Capital Advisors LLC now owns 35,060 shares of the retailer’s stock worth $3,078,000 after acquiring an additional 394 shares in the last quarter. Mayflower Financial Advisors LLC increased its holdings in Walmart by 5.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 7,902 shares of the retailer’s stock worth $694,000 after acquiring an additional 411 shares during the period. Legacy Capital Wealth Partners LLC lifted its holdings in shares of Walmart by 1.1% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 515,890 shares of the retailer’s stock worth $45,290,000 after acquiring an additional 5,811 shares during the last quarter. Finally, Napatree Capital LLC lifted its holdings in shares of Walmart by 4.4% during the 1st quarter. Napatree Capital LLC now owns 16,932 shares of the retailer’s stock worth $1,486,000 after acquiring an additional 714 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WMT. Mizuho upped their price objective on shares of Walmart from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, June 9th. UBS Group dropped their price target on shares of Walmart from $112.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Raymond James Financial lowered their target price on shares of Walmart from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. KeyCorp lifted their price target on shares of Walmart from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Finally, 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 report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Walmart presently has a consensus rating of “Moderate Buy” and an average target price of $106.67.

Insider Buying and Selling at Walmart

In related news, EVP Kathryn J. Mclay sold 4,000 shares of Walmart stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $95.24, for a total transaction of $380,960.00. Following the sale, the executive vice president directly owned 1,060,455 shares in the company, valued at $100,997,734.20. The trade was a 0.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total transaction of $216,568.00. Following the sale, the executive vice president owned 628,318 shares in the company, valued at approximately $61,851,623.92. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,951 shares of company stock valued at $13,543,436. 45.58% of the stock is currently owned by insiders.

Walmart Stock Performance

WMT stock opened at $95.11 on Thursday. 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 capitalization of $759.04 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 4.59 and a beta of 0.68. Walmart Inc. has a 1 year low of $66.67 and a 1 year high of $105.30. The stock’s fifty day moving average is $96.89 and its two-hundred day moving average is $94.56.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. On average, research analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

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

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.