Graypoint LLC Sells 10,314 Shares of Walmart Inc. (NYSE:WMT)

Graypoint LLC decreased its position in Walmart Inc. (NYSE:WMT) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,318 shares of the retailer’s stock after selling 10,314 shares during the quarter. Graypoint LLC’s holdings in Walmart were worth $4,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Walmart in the 1st quarter worth $25,000. Northwest Capital Management Inc lifted its holdings in Walmart by 199.3% in the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after buying an additional 293 shares during the period. TruNorth Capital Management LLC boosted its position in Walmart by 138.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after acquiring an additional 249 shares in the last quarter. Cultivar Capital Inc. purchased a new position in shares of Walmart in the 2nd quarter valued at approximately $29,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of Walmart during the fourth quarter valued at approximately $30,000. 26.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WMT shares. Royal Bank of Canada increased their price objective on Walmart from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Morgan Stanley lifted their price target on shares of Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. TD Cowen upped their price objective on shares of Walmart from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus raised their target price on shares of Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $81.00) on shares of Walmart in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Walmart presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

Walmart Stock Performance

Shares of WMT stock traded up $0.81 during trading hours on Friday, reaching $77.23. 23,229,975 shares of the company traded hands, compared to its average volume of 17,417,189. The firm has a 50-day moving average price of $70.55 and a 200 day moving average price of $64.67. The company has a market cap of $621.20 billion, a P/E ratio of 33.00, a P/E/G ratio of 3.81 and a beta of 0.50. 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 12-month low of $49.85 and a 12-month high of $77.47.

Walmart (NYSE:WMT) last posted its quarterly 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. The business had revenue of $169.30 billion during the quarter, compared to analyst estimates of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. As a group, sell-side analysts predict that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $69.19, for a total transaction of $207,570.00. Following the completion of the transaction, the executive vice president now directly owns 387,165 shares of the company’s stock, valued at $26,787,946.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $69.19, for a total value of $207,570.00. Following the sale, the executive vice president now owns 387,165 shares in the company, valued at $26,787,946.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the completion of the transaction, the chief executive officer now directly owns 3,960,402 shares of the company’s stock, valued at $270,851,892.78. The disclosure for this sale can be found here. Insiders sold 6,332,089 shares of company stock worth $422,145,654 in the last three months. 45.58% of the stock is owned by company 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.