Boltwood Capital Management Sells 610 Shares of Walmart Inc. (NYSE:WMT)

Boltwood Capital Management cut its holdings in Walmart Inc. (NYSE:WMT) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,137 shares of the retailer’s stock after selling 610 shares during the period. Boltwood Capital Management’s holdings in Walmart were worth $1,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Able Wealth Management LLC bought a new stake in Walmart during the fourth quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Walmart during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC purchased a new position in Walmart in the 4th quarter worth approximately $48,000. EntryPoint Capital LLC bought a new stake in shares of Walmart during the first quarter valued at approximately $25,000. Finally, TruNorth Capital Management LLC lifted its holdings in shares of Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after buying an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Trading Down 1.0 %

Walmart stock opened at $80.44 on Thursday. The firm has a market cap of $647.02 billion, a PE ratio of 34.38, a P/E/G ratio of 4.00 and a beta of 0.51. Walmart Inc. has a 12 month low of $49.85 and a 12 month high of $81.60. The stock’s 50 day simple moving average is $75.05 and its two-hundred day simple moving average is $67.94. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46.

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

Analyst Ratings Changes

A number of brokerages have issued reports on WMT. The Goldman Sachs Group lifted their price target on shares of Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus increased their price target on Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Redburn Atlantic raised Walmart to a “strong-buy” rating in a research note on Monday, September 23rd. Truist Financial upgraded shares of Walmart from a “hold” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $89.00 in a report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their target price on shares of Walmart from $81.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Walmart has a consensus rating of “Buy” and an average target price of $81.62.

Insiders Place Their Bets

In related news, major shareholder Alice L. Walton sold 2,709,163 shares of Walmart stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total value of $209,607,941.31. Following the sale, the insider now directly owns 630,501,148 shares in the company, valued at approximately $48,781,873,820.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Walmart news, major shareholder Alice L. Walton sold 2,709,163 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total value of $209,607,941.31. Following the completion of the sale, the insider now owns 630,501,148 shares in the company, valued at approximately $48,781,873,820.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total value of $182,823,328.48. Following the transaction, the insider now directly owns 619,646,544 shares in the company, valued at approximately $47,687,998,026.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,334,670 shares of company stock worth $958,025,027. Company insiders own 45.58% of the company’s stock.

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.