Mechanics Financial Corp Purchases Shares of 2,310 Walmart Inc. (NYSE:WMT)

Mechanics Financial Corp acquired a new position in Walmart Inc. (NYSE:WMT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,310 shares of the retailer’s stock, valued at approximately $364,000.

Several other institutional investors have also recently modified their holdings of the company. Simon Quick Advisors LLC increased its position in Walmart by 21.7% during the 3rd quarter. Simon Quick Advisors LLC now owns 3,426 shares of the retailer’s stock valued at $548,000 after purchasing an additional 610 shares during the period. Stratos Wealth Partners LTD. raised its stake in Walmart by 5.8% in the third quarter. Stratos Wealth Partners LTD. now owns 52,162 shares of the retailer’s stock worth $8,342,000 after buying an additional 2,845 shares in the last quarter. Redwood Investments LLC purchased a new stake in Walmart in the third quarter worth about $4,106,000. Independent Advisor Alliance boosted its position in Walmart by 2.3% during the 3rd quarter. Independent Advisor Alliance now owns 102,963 shares of the retailer’s stock valued at $16,467,000 after acquiring an additional 2,345 shares in the last quarter. Finally, Center for Financial Planning Inc. grew its holdings in shares of Walmart by 3.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 3,184 shares of the retailer’s stock worth $509,000 after acquiring an additional 99 shares during the period. 26.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Alice L. Walton sold 5,970,066 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $58.27, for a total transaction of $347,895,646.04. Following the completion of the transaction, the insider now directly owns 671,082,588 shares in the company, valued at approximately $39,106,219,344.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Alice L. Walton sold 5,970,066 shares of Walmart stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $58.27, for a total transaction of $347,895,646.04. Following the transaction, the insider now owns 671,082,588 shares in the company, valued at approximately $39,106,219,344.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 345,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $60.93, for a total transaction of $21,020,850.00. Following the completion of the transaction, the insider now directly owns 652,044,261 shares of the company’s stock, valued at approximately $39,729,056,822.73. The disclosure for this sale can be found here. Insiders sold a total of 29,016,140 shares of company stock worth $1,695,868,391 over the last quarter. 46.51% of the stock is currently owned by corporate insiders.

Walmart Stock Performance

Shares of Walmart stock traded up $0.64 during trading hours on Thursday, reaching $59.49. 7,611,244 shares of the stock traded hands, compared to its average volume of 18,533,760. The company has a 50 day moving average price of $60.01 and a 200 day moving average price of $55.92. Walmart Inc. has a one year low of $48.34 and a one year high of $61.65. The company has a quick ratio of 0.24, a current ratio of 0.83 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $479.48 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 3.88 and a beta of 0.49.

Walmart (NYSE:WMT) last announced its earnings results on Tuesday, February 20th. The retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Walmart had a net margin of 2.39% and a return on equity of 21.08%. The business had revenue of $173.40 billion during the quarter, compared to analysts’ expectations of $170.85 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Walmart Inc. will post 2.36 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, December 13th. Walmart’s dividend payout ratio is presently 43.38%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore ISI lowered their target price on Walmart from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Telsey Advisory Group reissued an “outperform” rating and set a $68.00 price objective on shares of Walmart in a research report on Wednesday, March 27th. Morgan Stanley decreased their price target on shares of Walmart to $66.67 and set an “overweight” rating for the company in a research note on Monday, February 26th. Stifel Europe lifted their price target on shares of Walmart from $56.33 to $58.33 in a research report on Friday, February 16th. Finally, Oppenheimer cut their price objective on shares of Walmart to $67.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Walmart has an average rating of “Moderate Buy” and a consensus price target of $61.75.

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.