First American Bank decreased its position in shares of Walmart Inc (NYSE:WMT) by 4.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 62,730 shares of the retailer’s stock after selling 2,714 shares during the period. First American Bank’s holdings in Walmart were worth $6,118,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Kentucky Retirement Systems bought a new position in Walmart in the third quarter worth $10,511,000. Teachers Advisors LLC increased its position in Walmart by 5.0% in the third quarter. Teachers Advisors LLC now owns 4,088,358 shares of the retailer’s stock worth $383,938,000 after purchasing an additional 193,481 shares during the period. TIAA CREF Investment Management LLC increased its position in Walmart by 7.1% in the third quarter. TIAA CREF Investment Management LLC now owns 7,268,467 shares of the retailer’s stock worth $682,582,000 after purchasing an additional 480,983 shares during the period. B. Riley Wealth Management Inc. acquired a new stake in Walmart in the third quarter worth about $2,975,000. Finally, NorthCoast Asset Management LLC acquired a new stake in Walmart in the third quarter worth about $374,000. Hedge funds and other institutional investors own 28.63% of the company’s stock.
WMT has been the topic of several recent analyst reports. Citigroup lifted their price objective on Walmart from $116.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, February 21st. Sanford C. Bernstein raised Walmart from a “market perform” rating to an “outperform” rating and set a $101.80 price target on the stock in a research report on Thursday, May 2nd. Morgan Stanley set a $113.00 target price on Walmart and gave the stock an “overweight” rating in a report on Wednesday, February 20th. KeyCorp upped their target price on Walmart from $112.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, February 20th. Finally, Wolfe Research downgraded Walmart from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have issued a buy rating to the stock. Walmart presently has a consensus rating of “Hold” and an average target price of $107.19.
Shares of NYSE WMT traded up $0.81 during midday trading on Friday, reaching $102.67. The company had a trading volume of 3,744,378 shares, compared to its average volume of 6,951,162. Walmart Inc has a one year low of $81.78 and a one year high of $106.21. The company has a current ratio of 0.77, a quick ratio of 0.21 and a debt-to-equity ratio of 0.89. The firm has a market cap of $299.56 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 4.45 and a beta of 0.36.
Walmart (NYSE:WMT) last released its earnings results on Thursday, May 16th. The retailer reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Walmart had a return on equity of 18.66% and a net margin of 1.62%. The company had revenue of $122.95 billion during the quarter, compared to analyst estimates of $124.51 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Walmart’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Walmart Inc will post 4.81 earnings per share for the current fiscal year.
In related news, insider David Chojnowski sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $97.17, for a total value of $194,340.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director S Robson Walton sold 1,614,118 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $98.32, for a total value of $158,700,081.76. Following the completion of the transaction, the director now directly owns 3,347,379 shares in the company, valued at $329,114,303.28. The disclosure for this sale can be found here. Insiders sold a total of 14,241,635 shares of company stock worth $1,413,205,319 in the last 90 days. 51.11% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Sundance Herald and is the property of of Sundance Herald. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://sundanceherald.com/2019/05/24/first-american-bank-has-6-12-million-stake-in-walmart-inc-wmt.html.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, shoes.com, and samsclub.com; and mobile commerce applications.
Featured Story: How to Invest in an Index Fund
Receive News & Ratings for Walmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walmart and related companies with MarketBeat.com's FREE daily email newsletter.