Cresset Asset Management LLC Sells 283,758 Shares of Walmart Inc. (NYSE:WMT)

Cresset Asset Management LLC trimmed its position in Walmart Inc. (NYSE:WMT) by 25.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,450 shares of the retailer’s stock after selling 283,758 shares during the period. Cresset Asset Management LLC’s holdings in Walmart were worth $75,829,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors grew its position in Walmart by 7.6% in the 4th quarter. World Investment Advisors now owns 271,515 shares of the retailer’s stock valued at $24,532,000 after purchasing an additional 19,233 shares during the period. Candriam S.C.A. grew its holdings in shares of Walmart by 209.7% during the fourth quarter. Candriam S.C.A. now owns 885,008 shares of the retailer’s stock valued at $79,960,000 after buying an additional 599,257 shares during the last quarter. Bank of New Hampshire increased its position in shares of Walmart by 13.7% during the fourth quarter. Bank of New Hampshire now owns 47,949 shares of the retailer’s stock worth $4,332,000 after acquiring an additional 5,786 shares in the last quarter. Modera Wealth Management LLC raised its holdings in shares of Walmart by 4.8% in the 4th quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer’s stock worth $18,355,000 after acquiring an additional 9,292 shares during the last quarter. Finally, Iowa State Bank lifted its position in Walmart by 213.8% in the 4th quarter. Iowa State Bank now owns 26,807 shares of the retailer’s stock valued at $2,422,000 after acquiring an additional 18,263 shares in the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.

Walmart Stock Performance

NYSE WMT opened at $99.31 on Tuesday. The company’s 50 day moving average is $90.59 and its 200-day moving average is $91.60. The firm has a market cap of $794.57 billion, a P/E ratio of 41.21, a price-to-earnings-growth ratio of 4.42 and a beta of 0.70. Walmart Inc. has a 12-month low of $59.39 and a 12-month high of $105.30. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $180.55 billion for the quarter, compared to the consensus estimate of $178.83 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. Sell-side analysts predict that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The business also recently announced a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.235 per share. This represents a yield of 0.95%. The ex-dividend date is Friday, May 9th. Walmart’s payout ratio is presently 39.00%.

Analysts Set New Price Targets

WMT has been the subject of a number of recent research reports. KeyCorp boosted their price objective on Walmart from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Raymond James lowered their price target on Walmart from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus cut their price objective on shares of Walmart from $93.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Citigroup reiterated a “positive” rating on shares of Walmart in a report on Thursday, February 20th. Finally, Robert W. Baird raised their price target on shares of Walmart from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.58.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $96.95, for a total value of $2,823,571.80. Following the transaction, the chief executive officer now owns 3,558,247 shares of the company’s stock, valued at approximately $344,972,046.65. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel J. Bartlett sold 1,600 shares of Walmart stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $103.99, for a total value of $166,384.00. Following the sale, the executive vice president now directly owns 423,597 shares of the company’s stock, valued at $44,049,852.03. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,857 shares of company stock worth $12,444,743 over the last ninety days. Company insiders own 45.58% of the company’s stock.

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.