Keudell Morrison Wealth Management Cuts Holdings in Walmart Inc. (NYSE:WMT)

Keudell Morrison Wealth Management trimmed its holdings in shares of Walmart Inc. (NYSE:WMT) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,487 shares of the retailer’s stock after selling 1,021 shares during the period. Keudell Morrison Wealth Management’s holdings in Walmart were worth $928,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Liberty Wealth Management LLC purchased a new position in shares of Walmart in the 1st quarter worth $270,000. Commerce Bank raised its holdings in Walmart by 189.4% in the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock worth $55,213,000 after purchasing an additional 600,521 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Walmart by 290.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock worth $16,250,000 after purchasing an additional 200,947 shares during the period. Sustainable Insight Capital Management LLC bought a new position in Walmart in the 1st quarter worth $723,000. Finally, Meridian Management Co. raised its holdings in 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. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Walmart Trading Up 0.8 %

Shares of NYSE:WMT traded up $0.70 during trading hours on Thursday, hitting $84.14. 1,558,685 shares of the company’s stock traded hands, compared to its average volume of 16,737,420. The business has a fifty day moving average price of $80.22 and a 200-day moving average price of $71.67. The firm has a market capitalization of $676.34 billion, a P/E ratio of 43.46, a price-to-earnings-growth ratio of 4.13 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22. Walmart Inc. has a 1 year low of $49.85 and a 1 year high of $85.54.

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

Insider Transactions at Walmart

In other Walmart news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total transaction of $232,440.00. Following the sale, the executive vice president now owns 384,165 shares in the company, valued at approximately $29,765,104.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP John D. Rainey sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total value of $232,440.00. Following the sale, the executive vice president now owns 384,165 shares in the company, valued at $29,765,104.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the completion of the sale, the insider now owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. Corporate insiders own 45.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays raised their target price on Walmart from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Stifel Nicolaus raised their price target on Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Morgan Stanley raised their price target on Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Telsey Advisory Group raised their price target on Walmart from $82.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Robert W. Baird raised their price target on Walmart from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $83.89.

Walmart Company 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.