Legacy Financial Group Inc. Sells 769 Shares of Walmart Inc. (NYSE:WMT)

Legacy Financial Group Inc. lessened its position in Walmart Inc. (NYSE:WMT) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,578 shares of the retailer’s stock after selling 769 shares during the period. Legacy Financial Group Inc.’s holdings in Walmart were worth $581,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of WMT. Able Wealth Management LLC bought a new position in Walmart during the fourth quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Walmart during the fourth quarter worth about $32,000. Tidemark LLC bought a new position in shares of Walmart during the 4th quarter valued at about $37,000. Frank Rimerman Advisors LLC bought a new position in shares of Walmart during the 4th quarter valued at about $48,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Walmart in the 1st quarter valued at approximately $25,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Walmart from $75.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Truist Financial raised their price objective on shares of Walmart from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Evercore ISI increased their target price on Walmart from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Barclays boosted their price target on Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Oppenheimer increased their price objective on Walmart from $69.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Walmart currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.99.

Insiders Place Their Bets

In other news, EVP Daniel J. Bartlett sold 2,398 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $69.50, for a total value of $166,661.00. Following the transaction, the executive vice president now owns 463,871 shares of the company’s stock, valued at $32,239,034.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Daniel J. Bartlett sold 2,398 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $69.50, for a total value of $166,661.00. Following the completion of the sale, the executive vice president now owns 463,871 shares of the company’s stock, valued at $32,239,034.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Chojnowski sold 8,791 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $68.00, for a total transaction of $597,788.00. Following the transaction, the senior vice president now directly owns 94,415 shares in the company, valued at $6,420,220. The disclosure for this sale can be found here. Insiders sold 10,203,360 shares of company stock worth $788,678,803 over the last three months. Insiders own 45.58% of the company’s stock.

Walmart Stock Down 2.4 %

WMT opened at $78.62 on Wednesday. The stock’s fifty day simple moving average is $72.90 and its 200 day simple moving average is $66.48. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $81.02. The stock has a market cap of $631.97 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 4.03 and a beta of 0.51. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $169.30 billion for 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 firm earned $0.61 earnings per share. As a group, research analysts expect that Walmart Inc. will post 2.44 earnings per share for the current year.

Walmart 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.