SouthState Corp Has $22.06 Million Stake in Walmart Inc. (NYSE:WMT)

SouthState Corp trimmed its stake in shares of Walmart Inc. (NYSE:WMT) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,292 shares of the retailer’s stock after selling 9,211 shares during the period. Walmart comprises about 1.0% of SouthState Corp’s portfolio, making the stock its 23rd largest position. SouthState Corp’s holdings in Walmart were worth $22,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC increased its stake in Walmart by 9.1% in the 4th quarter. Eagle Capital Management LLC now owns 3,861 shares of the retailer’s stock valued at $349,000 after buying an additional 321 shares during the last quarter. Brighton Jones LLC increased its stake in Walmart by 28.8% in the 4th quarter. Brighton Jones LLC now owns 98,150 shares of the retailer’s stock valued at $8,868,000 after buying an additional 21,939 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Walmart by 5.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,849 shares of the retailer’s stock valued at $800,000 after buying an additional 485 shares during the last quarter. Highview Capital Management LLC DE increased its stake in Walmart by 4.9% in the 4th quarter. Highview Capital Management LLC DE now owns 36,945 shares of the retailer’s stock valued at $3,338,000 after buying an additional 1,720 shares during the last quarter. Finally, Petros Family Wealth LLC acquired a new stake in Walmart in the 4th quarter valued at $557,000. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WMT shares. Evercore ISI lifted their price target on shares of Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Citigroup reissued a “buy” rating on shares of Walmart in a research report on Tuesday, May 6th. Truist Financial lifted their price objective on shares of Walmart from $107.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $103.00 price objective (up previously from $102.00) on shares of Walmart in a research report on Monday, June 9th. Finally, KeyCorp lifted their price objective on shares of Walmart from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, June 9th. One analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $106.67.

Walmart Stock Up 0.6%

Shares of WMT opened at $103.77 on Friday. Walmart Inc. has a 12 month low of $67.14 and a 12 month high of $105.30. The firm’s 50 day moving average is $97.30 and its 200-day moving average is $95.38. The stock has a market capitalization of $828.13 billion, a PE ratio of 44.35, a P/E/G ratio of 4.99 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47.

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

Insider Activity

In related news, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total value of $216,568.00. Following the transaction, the executive vice president directly owned 628,318 shares of the company’s stock, valued at $61,851,623.92. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $95.85, for a total transaction of $1,258,031.25. Following the completion of the transaction, the executive vice president directly owned 945,434 shares in the company, valued at $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. Over the last ninety days, insiders sold 146,112 shares of company stock valued at $14,080,073. 45.58% of the stock is owned by insiders.

Walmart Company 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.