Fred Alger Management LLC Reduces Position in Walmart Inc. (NYSE:WMT)

Fred Alger Management LLC reduced its position in shares of Walmart Inc. (NYSE:WMT) by 21.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 650,876 shares of the retailer’s stock after selling 179,444 shares during the period. Fred Alger Management LLC’s holdings in Walmart were worth $44,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Walmart during the 1st quarter worth about $25,000. Northwest Capital Management Inc increased its stake in Walmart by 199.3% in the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock valued at $26,000 after purchasing an additional 293 shares during the last quarter. TruNorth Capital Management LLC increased its stake in Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after purchasing an additional 249 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in Walmart during the second quarter worth approximately $29,000. Finally, Able Wealth Management LLC acquired a new position in shares of Walmart in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insider Transactions at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the sale, the chief executive officer now owns 3,960,402 shares of the company’s stock, valued at approximately $270,851,892.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Alice L. Walton sold 2,709,163 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the transaction, the insider now owns 630,501,148 shares in the company, valued at $48,781,873,820.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $68.39, for a total value of $1,991,790.36. Following the transaction, the chief executive officer now directly owns 3,960,402 shares of the company’s stock, valued at $270,851,892.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,360,248 shares of company stock worth $959,228,295. Company insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WMT. Jefferies Financial Group lifted their target price on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Royal Bank of Canada upped their price objective on Walmart from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their price target on Walmart from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $81.00) on shares of Walmart in a research note on Friday, August 16th. Finally, Tigress Financial boosted their target price on shares of Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $80.19.

Walmart Stock Up 0.5 %

NYSE:WMT opened at $80.70 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $73.86 and a 200-day moving average of $67.16. The firm has a market capitalization of $648.69 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 4.02 and a beta of 0.51. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $81.02.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping 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 analyst estimates of $168.56 billion. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts predict that Walmart Inc. will post 2.44 EPS for the current year.

Walmart Company 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.