Cullen Capital Management LLC Cuts Stock Position in Walmart Inc. (NYSE:WMT)

Cullen Capital Management LLC decreased its holdings in shares of Walmart Inc. (NYSE:WMT) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,028 shares of the retailer’s stock after selling 2,679 shares during the period. Cullen Capital Management LLC’s holdings in Walmart were worth $4,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brophy Wealth Management LLC acquired a new stake in shares of Walmart in the third quarter valued at about $2,072,000. World Investment Advisors boosted its holdings in Walmart by 7.6% in the 4th quarter. World Investment Advisors now owns 271,515 shares of the retailer’s stock worth $24,532,000 after buying an additional 19,233 shares during the last quarter. Candriam S.C.A. increased its stake in Walmart by 209.7% during the 4th quarter. Candriam S.C.A. now owns 885,008 shares of the retailer’s stock worth $79,960,000 after buying an additional 599,257 shares in the last quarter. Bank of New Hampshire raised its holdings in shares of Walmart by 13.7% during the fourth quarter. Bank of New Hampshire now owns 47,949 shares of the retailer’s stock valued at $4,332,000 after acquiring an additional 5,786 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its stake in shares of Walmart by 4.8% in the fourth quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer’s stock worth $18,355,000 after acquiring an additional 9,292 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $88.66, for a total value of $195,052.00. Following the completion of the transaction, the executive vice president now directly owns 398,024 shares in the company, valued at approximately $35,288,807.84. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,830 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.07, for a total value of $166,658.10. Following the sale, the executive vice president now owns 460,705 shares in the company, valued at approximately $41,956,404.35. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,852 shares of company stock worth $16,785,080 over the last 90 days. Corporate insiders own 45.58% of the company’s stock.

Walmart Price Performance

WMT stock opened at $83.09 on Friday. The business’s fifty day moving average price is $94.01 and its 200 day moving average price is $89.52. Walmart Inc. has a 12-month low of $58.56 and a 12-month high of $105.30. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $666.12 billion, a PE ratio of 34.48, a P/E/G ratio of 4.42 and a beta of 0.69.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The company had revenue of $180.55 billion for the quarter, compared to analyst estimates of $178.83 billion. On average, sell-side analysts anticipate that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be given a $0.235 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 annualized dividend and a yield of 1.13%. Walmart’s dividend payout ratio is presently 39.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WMT shares. The Goldman Sachs Group restated a “buy” rating on shares of Walmart in a report on Wednesday, March 26th. Roth Mkm reissued a “buy” rating and issued a $108.00 price target (up from $97.00) on shares of Walmart in a research note on Friday, February 21st. Evercore ISI dropped their price objective on shares of Walmart from $107.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Stifel Nicolaus cut their price objective on shares of Walmart from $99.00 to $93.00 and set a “hold” rating for the company in a report on Thursday, March 20th. Finally, Piper Sandler boosted their target price on Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

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.