Conning Inc. reduced its holdings in Walmart Inc (NYSE:WMT) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 471,389 shares of the retailer’s stock after selling 19,368 shares during the period. Walmart makes up about 1.5% of Conning Inc.’s investment portfolio, making the stock its 17th biggest position. Conning Inc.’s holdings in Walmart were worth $43,910,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in WMT. Weather Gauge Advisory LLC acquired a new stake in Walmart in the fourth quarter worth $339,000. IMS Capital Management raised its holdings in Walmart by 7.7% in the third quarter. IMS Capital Management now owns 16,565 shares of the retailer’s stock worth $1,556,000 after purchasing an additional 1,188 shares during the period. Point72 Asset Management L.P. acquired a new stake in Walmart in the third quarter worth $39,376,000. Legacy Capital Partners Inc. raised its holdings in Walmart by 11.3% in the fourth quarter. Legacy Capital Partners Inc. now owns 10,057 shares of the retailer’s stock worth $937,000 after purchasing an additional 1,017 shares during the period. Finally, Bath Savings Trust Co raised its holdings in Walmart by 3.8% in the fourth quarter. Bath Savings Trust Co now owns 3,247 shares of the retailer’s stock worth $302,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 29.44% of the company’s stock.
In related news, major shareholder Jim C. Walton sold 706,769 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $94.27, for a total value of $66,627,113.63. Following the completion of the transaction, the insider now owns 10,557,224 shares of the company’s stock, valued at $995,229,506.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 387,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $98.70, for a total transaction of $38,196,900.00. Following the completion of the transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $666,084,846. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,818,674 shares of company stock valued at $1,122,286,815. 51.11% of the stock is owned by insiders.
Several equities research analysts have weighed in on WMT shares. Goldman Sachs Group reiterated a “neutral” rating and issued a $100.00 target price on shares of Walmart in a report on Wednesday, October 17th. Credit Suisse Group reiterated a “neutral” rating and issued a $103.00 target price on shares of Walmart in a report on Wednesday, October 17th. Raymond James reiterated a “buy” rating and issued a $105.00 target price on shares of Walmart in a report on Thursday, October 18th. MKM Partners cut their target price on shares of Walmart from $107.00 to $105.00 in a report on Monday, October 22nd. Finally, Cowen increased their target price on shares of Walmart from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $104.62.
Walmart stock opened at $97.94 on Thursday. The firm has a market capitalization of $288.85 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 3.97 and a beta of 0.32. Walmart Inc has a 1-year low of $81.78 and a 1-year high of $106.21. The company has a quick ratio of 0.22, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.
Walmart (NYSE:WMT) last released its earnings results on Thursday, November 15th. The retailer reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $124.89 billion during the quarter, compared to the consensus estimate of $124.86 billion. Walmart had a net margin of 1.01% and a return on equity of 18.36%. On average, research analysts anticipate that Walmart Inc will post 4.83 earnings per share for the current year.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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