Spinnaker Investment Group LLC Boosts Stock Holdings in Walmart Inc. (NYSE:WMT)

Spinnaker Investment Group LLC boosted its stake in shares of Walmart Inc. (NYSE:WMT) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,380 shares of the retailer’s stock after purchasing an additional 804 shares during the period. Spinnaker Investment Group LLC’s holdings in Walmart were worth $999,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WMT. Palumbo Wealth Management LLC grew its holdings in Walmart by 22.1% during the 1st quarter. Palumbo Wealth Management LLC now owns 5,727 shares of the retailer’s stock valued at $503,000 after purchasing an additional 1,037 shares in the last quarter. FMA Wealth Management LLC acquired a new position in Walmart during the 1st quarter worth $182,000. Acorn Creek Capital LLC grew its holdings in Walmart by 3.6% during the 1st quarter. Acorn Creek Capital LLC now owns 3,475 shares of the retailer’s stock worth $305,000 after acquiring an additional 122 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Walmart by 1.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 64,787 shares of the retailer’s stock worth $5,688,000 after acquiring an additional 706 shares in the last quarter. Finally, Friday Financial acquired a new position in shares of Walmart in the 1st quarter valued at about $538,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Wall Street Analyst Weigh In

WMT has been the subject of several research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Walmart in a report on Monday, May 5th. Raymond James Financial cut their price objective on shares of Walmart from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Evercore ISI lifted their price objective on shares of Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Mizuho lifted their price objective on shares of Walmart from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, June 9th. Finally, Oppenheimer lifted their price objective on shares of Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Two research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Walmart Trading Up 1.1%

NYSE WMT opened at $96.16 on Monday. Walmart Inc. has a twelve month low of $66.55 and a twelve month 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 $767.41 billion, a price-to-earnings ratio of 41.10, a PEG ratio of 4.69 and a beta of 0.69. The firm’s 50 day moving average price is $96.39 and its two-hundred day moving average price is $94.14.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 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 business had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. During the same period in the previous year, the company posted $0.60 EPS. Walmart’s revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were paid 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 presently 40.17%.

Insider Transactions at Walmart

In related news, EVP Daniel J. Bartlett sold 1,760 shares of Walmart stock in a transaction on Monday, June 16th. The shares were sold at an average price of $94.77, for a total value of $166,795.20. Following the completion of the sale, the executive vice president now owns 650,977 shares of the company’s stock, valued at approximately $61,693,090.29. The trade was a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Douglas Mcmillon sold 29,148 shares of Walmart stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total transaction of $2,815,113.84. Following the completion of the sale, the chief executive officer now directly owns 4,451,199 shares of the company’s stock, valued at approximately $429,896,799.42. The trade was a 0.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,294 shares of company stock valued at $12,656,659. 45.58% of the stock is owned by insiders.

Walmart Company 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.