Flippin Bruce & Porter Inc. lessened its holdings in shares of Walmart Inc (NYSE:WMT) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,232 shares of the retailer’s stock after selling 2,170 shares during the period. Walmart makes up approximately 1.7% of Flippin Bruce & Porter Inc.’s portfolio, making the stock its 28th biggest holding. Flippin Bruce & Porter Inc.’s holdings in Walmart were worth $9,641,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in WMT. Krane Funds Advisors LLC acquired a new stake in Walmart in the second quarter valued at $26,000. AllSquare Wealth Management LLC grew its holdings in Walmart by 235.3% in the second quarter. AllSquare Wealth Management LLC now owns 285 shares of the retailer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Shine Investment Advisory Services Inc. grew its holdings in Walmart by 181.7% in the third quarter. Shine Investment Advisory Services Inc. now owns 307 shares of the retailer’s stock valued at $36,000 after purchasing an additional 198 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new stake in Walmart in the second quarter valued at $34,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in Walmart in the second quarter valued at $37,000. 30.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on WMT. Guggenheim reissued a “buy” rating and issued a $125.00 target price on shares of Walmart in a report on Thursday, August 15th. Morgan Stanley upped their target price on Walmart from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Gordon Haskett upgraded Walmart from an “accumulate” rating to a “buy” rating and upped their price objective for the company from $115.00 to $125.00 in a research report on Thursday, August 15th. Zacks Investment Research downgraded Walmart from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a research report on Tuesday, September 17th. Finally, Citigroup restated a “buy” rating and issued a $135.00 price objective (up from $129.00) on shares of Walmart in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have given a buy rating to the stock. Walmart has a consensus rating of “Hold” and a consensus price target of $117.66.
Walmart (NYSE:WMT) last released its earnings results on Thursday, August 15th. The retailer reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.05. Walmart had a return on equity of 18.23% and a net margin of 2.48%. The firm had revenue of $130.40 billion for the quarter, compared to the consensus estimate of $129.32 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Walmart Inc will post 4.92 EPS for the current fiscal year.
In other Walmart news, SVP David Chojnowski sold 3,680 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $115.38, for a total transaction of $424,598.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John R. Furner sold 7,900 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $114.72, for a total value of $906,288.00. The disclosure for this sale can be found here. Corporate insiders own 51.11% of the company’s stock.
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.
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