Walmart Inc (WMT) Position Lessened by Synovus Financial Corp

Synovus Financial Corp decreased its position in shares of Walmart Inc (NYSE:WMT) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 134,845 shares of the retailer’s stock after selling 5,337 shares during the quarter. Synovus Financial Corp’s holdings in Walmart were worth $12,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WMT. CSat Investment Advisory L.P. purchased a new position in shares of Walmart during the second quarter valued at approximately $111,000. Amussen Hunsaker Associates LLC purchased a new position in shares of Walmart during the second quarter valued at approximately $152,000. ELM Advisors LLC purchased a new position in shares of Walmart during the third quarter valued at approximately $152,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Walmart during the third quarter valued at approximately $162,000. Finally, Kiley Juergens Wealth Management LLC purchased a new position in shares of Walmart during the second quarter valued at approximately $165,000. 29.42% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Alice L. Walton sold 594,396 shares of the stock in a transaction on Friday, August 17th. The shares were 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 owns 6,748,580 shares of the company’s stock, valued at $663,250,442.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jim C. Walton sold 2,009,792 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $94.63, for a total transaction of $190,186,616.96. Following the completion of the sale, the insider now directly owns 10,557,224 shares of the company’s stock, valued at approximately $999,030,107.12. The disclosure for this sale can be found here. Insiders sold 10,199,130 shares of company stock valued at $976,228,654 in the last three months. Company insiders own 51.11% of the company’s stock.

Several brokerages recently issued reports on WMT. Robert W. Baird upped their price objective on shares of Walmart to $110.00 and gave the company an “outperform” rating in a research note on Thursday, August 16th. Oppenheimer reaffirmed a “neutral” rating and set a $100.00 price target on shares of Walmart in a research report on Thursday, August 16th. BMO Capital Markets started coverage on shares of Walmart in a research report on Monday, September 17th. They set an “outperform” rating and a $110.00 price target for the company. Morningstar set a $96.00 price target on shares of Walmart and gave the stock a “sell” rating in a research report on Thursday. Finally, Zacks Investment Research raised shares of Walmart from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $103.16.

Walmart stock opened at $104.88 on Friday. Walmart Inc has a 52-week low of $81.78 and a 52-week high of $109.98. The firm has a market capitalization of $306.10 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 4.27 and a beta of 0.35. The company has a quick ratio of 0.34, a current ratio of 0.93 and a debt-to-equity ratio of 0.70.

Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, August 16th. The retailer reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.07. Walmart had a net margin of 1.02% and a return on equity of 18.16%. The company had revenue of $127.06 billion during the quarter, compared to analyst estimates of $124.67 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts anticipate that Walmart Inc will post 4.77 EPS for the current fiscal 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: When is a capital gain realized?

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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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