Klingenstein Fields & Co. LLC Sells 38,094 Shares of Walmart Inc (WMT)

Klingenstein Fields & Co. LLC lowered its position in Walmart Inc (NYSE:WMT) by 88.5% during the third quarter, Holdings Channel reports. The institutional investor owned 4,971 shares of the retailer’s stock after selling 38,094 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Walmart were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CSat Investment Advisory L.P. purchased a new stake in Walmart in the 2nd quarter worth approximately $111,000. Amussen Hunsaker Associates LLC acquired a new position in shares of Walmart during the 2nd quarter worth approximately $152,000. ELM Advisors LLC acquired a new position in shares of Walmart during the 3rd quarter worth approximately $152,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Walmart during the 3rd quarter worth approximately $162,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in shares of Walmart during the 2nd quarter worth approximately $165,000. Hedge funds and other institutional investors own 29.42% of the company’s stock.

In other Walmart news, insider John R. Furner sold 9,623 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $94.04, for a total value of $904,946.92. Following the completion of the sale, the insider now directly owns 165,402 shares of the company’s stock, valued at approximately $15,554,404.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 594,396 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $98.28, for a total value of $58,417,238.88. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $663,250,442.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,199,130 shares of company stock valued at $976,228,654. 51.11% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on WMT. Stifel Nicolaus reaffirmed a “neutral” rating and set a $95.00 target price on shares of Walmart in a research note on Friday, August 17th. Telsey Advisory Group upped their target price on Walmart from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Friday, August 17th. Guggenheim reaffirmed a “buy” rating and set a $110.00 target price on shares of Walmart in a research note on Thursday, August 16th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $90.00 target price on shares of Walmart in a research note on Thursday, August 9th. Finally, Zacks Investment Research downgraded Walmart from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Eighteen equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $103.16.

NYSE WMT opened at $104.32 on Thursday. Walmart Inc has a one year low of $81.78 and a one year high of $109.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.93 and a quick ratio of 0.34. The firm has a market capitalization of $306.10 billion, a P/E ratio of 23.60, a PEG ratio of 4.27 and a beta of 0.35.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 16th. The retailer reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.07. Walmart had a return on equity of 18.16% and a net margin of 1.02%. The firm had revenue of $127.06 billion during the quarter, compared to the consensus estimate of $124.67 billion. During the same period in the prior year, the company earned $1.08 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Walmart Inc will post 4.77 earnings per share for the current year.

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Walmart Profile

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, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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