Spectrum Asset Management Inc. NB CA Sells 7,216 Shares of Walmart Inc. (NYSE:WMT)

Spectrum Asset Management Inc. NB CA lessened its holdings in shares of Walmart Inc. (NYSE:WMT) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,475 shares of the retailer’s stock after selling 7,216 shares during the quarter. Walmart makes up 2.0% of Spectrum Asset Management Inc. NB CA’s portfolio, making the stock its 17th biggest position. Spectrum Asset Management Inc. NB CA’s holdings in Walmart were worth $4,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Walmart during the fourth quarter valued at approximately $5,737,355,000. Raymond James Financial Inc. purchased a new position in Walmart during the fourth quarter valued at $2,306,627,000. GAMMA Investing LLC boosted its holdings in shares of Walmart by 9,896.9% during the 1st quarter. GAMMA Investing LLC now owns 7,939,728 shares of the retailer’s stock valued at $697,029,000 after buying an additional 7,860,306 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Walmart by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 32,020,800 shares of the retailer’s stock worth $2,893,079,000 after buying an additional 3,927,173 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Walmart by 8.9% in the 4th quarter. Northern Trust Corp now owns 43,641,936 shares of the retailer’s stock worth $3,943,049,000 after acquiring an additional 3,550,037 shares in the last quarter. Institutional investors own 26.76% of the company’s stock.

Wall Street Analysts Forecast Growth

WMT has been the topic of several research reports. Telsey Advisory Group reissued an “outperform” rating and set a $115.00 price objective on shares of Walmart in a research note on Monday. Erste Group Bank cut Walmart from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Piper Sandler upped their price target on Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Mizuho lifted their price objective on Walmart from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Raymond James cut their target price on Walmart from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Walmart Trading Down 1.7%

Shares of NYSE:WMT opened at $95.70 on Thursday. The stock’s 50-day simple moving average is $95.31 and its two-hundred day simple moving average is $94.01. The stock has a market capitalization of $765.70 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 4.42 and a beta of 0.69. Walmart Inc. has a 52-week low of $65.90 and a 52-week high of $105.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $165.61 billion for the quarter, compared to analysts’ expectations of $164.53 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. Analysts expect that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th were given a $0.235 dividend. The ex-dividend date was Friday, May 9th. This represents a yield of 0.95%. Walmart’s payout ratio is presently 40.17%.

Insider Transactions at Walmart

In other news, EVP Kathryn J. Mclay sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $85.95, for a total value of $343,800.00. Following the completion of the sale, the executive vice president now directly owns 888,309 shares in the company, valued at $76,350,158.55. This represents a 0.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel J. Bartlett sold 1,760 shares of Walmart stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $94.82, for a total value of $166,883.20. Following the transaction, the executive vice president now owns 520,275 shares in the company, valued at $49,332,475.50. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,534 shares of company stock worth $12,833,664 in the last 90 days. 45.58% of the stock is currently owned by insiders.

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.