Walmart Inc. (NYSE:WMT) Shares Sold by Convergence Financial LLC

Convergence Financial LLC decreased its position in Walmart Inc. (NYSE:WMT) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,939 shares of the retailer’s stock after selling 206 shares during the quarter. Convergence Financial LLC’s holdings in Walmart were worth $803,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WMT. Hoese & Co LLP purchased a new position in shares of Walmart during the 3rd quarter valued at approximately $33,000. EntryPoint Capital LLC purchased a new position in shares of Walmart during the 1st quarter valued at approximately $25,000. TruNorth Capital Management LLC boosted its stake in shares of 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 buying an additional 249 shares during the last quarter. Cultivar Capital Inc. purchased a new position in shares of Walmart during the 2nd quarter valued at approximately $29,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Walmart during the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insider Buying and Selling

In related news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $82.96, for a total transaction of $1,088,850.00. Following the transaction, the executive vice president now directly owns 593,040 shares of the company’s stock, valued at $49,198,598.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $82.79, for a total value of $2,411,175.96. Following the completion of the sale, the chief executive officer now owns 3,843,929 shares in the company, valued at approximately $318,238,881.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.96, for a total transaction of $1,088,850.00. Following the transaction, the executive vice president now owns 593,040 shares in the company, valued at approximately $49,198,598.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,337,337 shares of company stock valued at $958,784,857 over the last three months. Company insiders own 45.58% of the company’s stock.

Walmart Price Performance

NYSE:WMT opened at $82.51 on Friday. The business’s 50-day moving average price is $79.09 and its 200 day moving average price is $70.40. The firm has a market cap of $663.67 billion, a P/E ratio of 35.26, a PEG ratio of 4.11 and a beta of 0.51. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $83.34. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last released its 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 firm had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. Walmart’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $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.

Analysts Set New Price Targets

WMT has been the subject of several research analyst reports. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and increased their target price for the company from $76.00 to $89.00 in a research note on Tuesday, September 24th. Royal Bank of Canada raised their price objective on Walmart from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. The Goldman Sachs Group raised their price objective on Walmart from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group raised their price objective on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Walmart has an average rating of “Buy” and a consensus price target of $83.51.

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.