Walmart Inc. (NYSE:WMT) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC decreased its position in shares of Walmart Inc. (NYSE:WMT) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 109,768 shares of the retailer’s stock after selling 6,133 shares during the quarter. Walmart accounts for about 1.2% of Patton Albertson Miller Group LLC’s holdings, making the stock its 20th biggest holding. Patton Albertson Miller Group LLC’s holdings in Walmart were worth $8,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in shares of Walmart by 4.6% during the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock valued at $3,848,533,000 after acquiring an additional 2,107,197 shares during the period. Legal & General Group Plc lifted its holdings in Walmart by 1.8% in the second quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock worth $2,456,704,000 after purchasing an additional 644,353 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Walmart by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,236,769 shares of the retailer’s stock worth $2,522,369,000 after purchasing an additional 350,881 shares during the period. Jennison Associates LLC lifted its holdings in Walmart by 479.6% in the third quarter. Jennison Associates LLC now owns 18,479,259 shares of the retailer’s stock worth $1,492,200,000 after purchasing an additional 15,290,936 shares during the period. Finally, Raymond James & Associates lifted its holdings in Walmart by 3.0% in the third quarter. Raymond James & Associates now owns 16,766,325 shares of the retailer’s stock worth $1,353,881,000 after purchasing an additional 484,196 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WMT shares. Robert W. Baird upped their price objective on shares of Walmart from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Evercore ISI upped their price objective on shares of Walmart from $66.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. UBS Group upped their price objective on shares of Walmart from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. BMO Capital Markets upped their price objective on shares of Walmart from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Piper Sandler boosted their price target on shares of Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.88.

Walmart Price Performance

Shares of WMT opened at $89.45 on Tuesday. The company has a market capitalization of $719.02 billion, a price-to-earnings ratio of 36.71, a P/E/G ratio of 4.29 and a beta of 0.51. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $90.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.23. The business’s 50-day moving average is $82.29 and its 200-day moving average is $74.14.

Walmart (NYSE:WMT) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Equities research analysts expect that Walmart Inc. will post 2.47 EPS for the current fiscal year.

Insider Activity at Walmart

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total value of $232,440.00. Following the completion of the sale, the executive vice president now owns 384,165 shares of the company’s stock, valued at approximately $29,765,104.20. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total value of $209,607,941.31. Following the sale, the insider now directly owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is owned by corporate insiders.

About Walmart

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.