Massachusetts Financial Services Co. MA Sells 26,760 Shares of Walmart Inc. (NYSE:WMT)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Walmart Inc. (NYSE:WMT) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 443,941 shares of the retailer’s stock after selling 26,760 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Walmart were worth $30,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Able Wealth Management LLC bought a new position in Walmart in the fourth quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Walmart in the fourth quarter worth about $32,000. Tidemark LLC purchased a new stake in Walmart in the fourth quarter worth about $37,000. Frank Rimerman Advisors LLC purchased a new stake in Walmart in the fourth quarter worth about $48,000. Finally, EntryPoint Capital LLC purchased a new stake in Walmart in the first quarter worth about $25,000. 26.76% of the stock is owned by institutional investors.

Insider Activity at Walmart

In related news, SVP David Chojnowski sold 8,791 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $68.00, for a total transaction of $597,788.00. Following the completion of the transaction, the senior vice president now owns 94,415 shares in the company, valued at approximately $6,420,220. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP David Chojnowski sold 8,791 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $68.00, for a total transaction of $597,788.00. Following the completion of the transaction, the senior vice president now owns 94,415 shares in the company, valued at approximately $6,420,220. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder S Robson Walton sold 359,616 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $78.25, for a total value of $28,139,952.00. Following the completion of the sale, the insider now owns 603,989,702 shares of the company’s stock, valued at $47,262,194,181.50. The disclosure for this sale can be found here. Insiders sold a total of 12,369,039 shares of company stock worth $959,826,083 in the last quarter. 45.58% of the stock is owned by company insiders.

Analyst Ratings Changes

WMT has been the subject of a number of analyst reports. StockNews.com upgraded Walmart from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Jefferies Financial Group upped their price target on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. HSBC lifted their target price on Walmart from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up previously from $81.00) on shares of Walmart in a research note on Friday, August 16th. Finally, Royal Bank of Canada lifted their target price on Walmart from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Walmart presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.99.

Walmart Stock Performance

NYSE WMT opened at $79.06 on Friday. The company has a market cap of $635.92 billion, a P/E ratio of 33.79, a P/E/G ratio of 4.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. The business’s 50 day moving average price is $73.44 and its 200-day moving average price is $66.78. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $81.02.

Walmart (NYSE:WMT) last released its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Walmart Inc. will post 2.44 earnings per share for the current year.

Walmart Profile

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.