Walmart Inc. (NYSE:WMT) Shares Sold by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. cut its position in shares of Walmart Inc. (NYSE:WMT) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 254,350 shares of the retailer’s stock after selling 28,018 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Walmart were worth $20,539,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Liberty Wealth Management LLC purchased a new stake in Walmart in the 1st quarter valued at about $270,000. Commerce Bank boosted its holdings in Walmart by 189.4% in the first quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock valued at $55,213,000 after acquiring an additional 600,521 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Walmart by 290.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock valued at $16,250,000 after acquiring an additional 200,947 shares during the period. Sustainable Insight Capital Management LLC acquired a new stake in Walmart during the first quarter worth about $723,000. Finally, Meridian Management Co. raised its holdings in shares of Walmart by 200.2% in the 1st quarter. Meridian Management Co. now owns 140,880 shares of the retailer’s stock worth $8,477,000 after purchasing an additional 93,955 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the sale, the insider now directly owns 619,646,544 shares in the company, valued at approximately $47,687,998,026.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.96, for a total value of $182,823,328.48. Following the sale, the insider now owns 619,646,544 shares of the company’s stock, valued at $47,687,998,026.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $82.12, for a total transaction of $246,360.00. Following the transaction, the executive vice president now directly owns 378,165 shares of the company’s stock, valued at $31,054,909.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,337,337 shares of company stock valued at $958,823,647 over the last quarter. Insiders own 45.58% of the company’s stock.

Walmart Stock Performance

WMT stock opened at $85.00 on Wednesday. The stock’s 50 day simple moving average is $80.08 and its 200 day simple moving average is $71.58. Walmart Inc. has a 12-month low of $49.85 and a 12-month high of $85.00. The firm has a market cap of $683.25 billion, a P/E ratio of 43.51, a P/E/G ratio of 4.13 and a beta of 0.51. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Walmart Inc. will post 2.44 EPS for the current year.

Analyst Ratings Changes

WMT has been the subject of a number of research reports. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $89.00 in a report on Tuesday, September 24th. TD Cowen increased their price objective on shares of Walmart from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Wells Fargo & Company lifted their target price on shares of Walmart from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Melius Research initiated coverage on Walmart in a report on Monday, September 23rd. They issued a “buy” rating and a $95.00 price target for the company. Finally, Telsey Advisory Group boosted their price objective on Walmart from $82.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Walmart has an average rating of “Buy” and an average price target of $83.89.

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.