Cornerstone Advisors LLC Cuts Stock Holdings in Walmart Inc. (NYSE:WMT)

Cornerstone Advisors LLC reduced its stake in Walmart Inc. (NYSE:WMT) by 0.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 372,800 shares of the retailer’s stock after selling 200 shares during the quarter. Walmart makes up 1.0% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Cornerstone Advisors LLC’s holdings in Walmart were worth $25,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of WMT. AHL Investment Management Inc. increased its position in shares of Walmart by 192.1% during the first quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock valued at $1,444,000 after acquiring an additional 15,785 shares during the last quarter. Core Wealth Advisors Inc. lifted its position in shares of Walmart by 38.9% during the 4th quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock valued at $237,000 after buying an additional 420 shares during the last quarter. Liberty Wealth Management LLC bought a new position in shares of Walmart during the 1st quarter worth $270,000. Commerce Bank increased 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 acquiring an additional 600,521 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Walmart by 290.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock valued at $16,250,000 after acquiring an additional 200,947 shares during the period. 26.76% of the stock is currently owned by institutional investors.

Walmart Price Performance

WMT stock opened at $80.60 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. The firm has a market cap of $647.88 billion, a P/E ratio of 34.49, a P/E/G ratio of 3.99 and a beta of 0.51. The firm’s fifty day moving average is $72.51 and its 200 day moving average is $66.18. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $80.68.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on WMT. Guggenheim raised their price objective on shares of Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 16th. The Goldman Sachs Group lifted their price target on Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Truist Financial increased their price objective on Walmart from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up previously from $81.00) on shares of Walmart in a research note on Friday, August 16th. Finally, Barclays increased their price target on shares of Walmart from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.99.

Insider Activity at Walmart

In other Walmart news, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 611,988,318 shares in the company, valued at $47,245,498,149.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jim C. Walton sold 934,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $79.46, for a total value of $74,215,640.00. Following the transaction, the insider now owns 610,843,318 shares in the company, valued at approximately $48,537,610,048.28. The disclosure for this sale can be found here. Insiders sold 10,203,360 shares of company stock worth $788,678,803 in the last three months. 45.58% of the stock is owned by 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.