Walmart Inc. (NYSE:WMT) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors lessened its stake in Walmart Inc. (NYSE:WMT) by 24.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,775 shares of the retailer’s stock after selling 28,539 shares during the period. Tower Bridge Advisors’ holdings in Walmart were worth $12,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Heritage Trust Co boosted its stake in Walmart by 1.8% in the first quarter. Heritage Trust Co now owns 49,334 shares of the retailer’s stock valued at $6,702,000 after acquiring an additional 859 shares in the last quarter. Argent Trust Co boosted its stake in Walmart by 9.3% in the first quarter. Argent Trust Co now owns 140,023 shares of the retailer’s stock valued at $19,019,000 after acquiring an additional 11,962 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its stake in Walmart by 15.5% in the first quarter. Security National Bank of Sioux City Iowa IA now owns 15,439 shares of the retailer’s stock valued at $2,097,000 after acquiring an additional 2,073 shares in the last quarter. O Brien Greene & Co. Inc boosted its stake in Walmart by 2.8% in the first quarter. O Brien Greene & Co. Inc now owns 35,240 shares of the retailer’s stock valued at $4,786,000 after acquiring an additional 948 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Walmart by 4.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,289 shares of the retailer’s stock valued at $3,263,000 after acquiring an additional 1,097 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Several equities research analysts have recently weighed in on WMT shares. Citigroup increased their target price on shares of Walmart from $172.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, May 19th. Telsey Advisory Group increased their target price on shares of Walmart from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 19th. MKM Partners increased their target price on shares of Walmart from $141.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 25th. Credit Suisse Group started coverage on shares of Walmart in a research note on Wednesday, May 19th. They set an “outperform” rating and a $150.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of Walmart from $163.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, May 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $162.20.

In other Walmart news, major shareholder Alice L. Walton sold 415,526 shares of Walmart stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $140.52, for a total value of $58,389,713.52. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $948,310,461.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jim C. Walton sold 106,049 shares of Walmart stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $131.23, for a total transaction of $13,916,810.27. Following the completion of the sale, the insider now directly owns 10,507,124 shares of the company’s stock, valued at $1,378,849,882.52. The disclosure for this sale can be found here. Insiders sold a total of 9,235,353 shares of company stock valued at $1,301,680,977 over the last ninety days. 50.43% of the stock is owned by corporate insiders.

Shares of WMT traded up $0.73 during mid-day trading on Friday, reaching $140.61. 219,333 shares of the company’s stock were exchanged, compared to its average volume of 8,714,280. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.37 and a current ratio of 0.95. The stock’s 50-day simple moving average is $140.25. Walmart Inc. has a 52-week low of $117.01 and a 52-week high of $153.66. The company has a market cap of $394.01 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 4.33 and a beta of 0.46.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Tuesday, May 18th. The retailer reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.48. The business had revenue of $138.30 billion during the quarter, compared to analysts’ expectations of $131.53 billion. Walmart had a net margin of 2.18% and a return on equity of 19.92%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS. On average, equities research analysts predict that Walmart Inc. will post 5.95 EPS for the current fiscal year.

Walmart declared that its Board of Directors has authorized a share buyback plan on Thursday, February 18th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Walmart

Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.

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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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