Concord Asset Management LLC VA Sells 16,604 Shares of Walmart Inc. (NYSE:WMT)

Concord Asset Management LLC VA reduced its holdings in shares of Walmart Inc. (NYSE:WMT) by 40.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,516 shares of the retailer’s stock after selling 16,604 shares during the quarter. Concord Asset Management LLC VA’s holdings in Walmart were worth $2,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WMT. Horizon Financial Services LLC increased its stake in shares of Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after buying an additional 262 shares during the period. EQ Wealth Advisors LLC bought a new position in Walmart in the first quarter worth approximately $35,000. Mizuho Bank Ltd. bought a new position in shares of Walmart in the fourth quarter valued at approximately $41,000. Nexus Investment Management ULC bought a new position in shares of Walmart in the first quarter valued at approximately $49,000. Finally, WealthTrak Capital Management LLC bought a new stake in Walmart during the fourth quarter worth $53,000. 26.76% of the stock is currently owned by institutional investors.

Walmart Stock Up 1.5%

WMT opened at $95.83 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. The firm has a market cap of $764.75 billion, a P/E ratio of 40.95, a PEG ratio of 4.54 and a beta of 0.68. Walmart Inc. has a 52 week low of $66.67 and a 52 week high of $105.30. The business’s fifty day simple moving average is $97.03 and its 200 day simple moving average is $94.55.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The firm had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same period last year, the company earned $0.60 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were issued a $0.235 dividend. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio (DPR) is 40.17%.

Insider Transactions at Walmart

In other news, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $99.00, for a total value of $217,800.00. Following the transaction, the executive vice president directly owned 630,518 shares in the company, valued at $62,421,282. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $95.85, for a total value of $1,258,031.25. Following the completion of the transaction, the executive vice president owned 945,434 shares in the company, valued at approximately $90,619,848.90. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,951 shares of company stock valued at $13,543,436. 45.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WMT has been the subject of a number of recent research reports. KeyCorp raised their target price on Walmart from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Stifel Nicolaus dropped their target price on Walmart from $93.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Walmart in a research report on Wednesday, March 26th. Robert W. Baird upped their target price on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Walmart in a research note on Monday, June 9th. Two analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Walmart has a consensus rating of “Moderate Buy” and an average price target of $106.67.

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.