Investment Counsel Inc. reduced its holdings in shares of Walmart Inc (NYSE:WMT) by 15.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,610 shares of the retailer’s stock after selling 4,755 shares during the quarter. Walmart makes up about 2.2% of Investment Counsel Inc.’s portfolio, making the stock its 14th biggest holding. Investment Counsel Inc.’s holdings in Walmart were worth $3,054,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Lincoln Capital LLC raised its holdings in Walmart by 1.5% in the 2nd quarter. Lincoln Capital LLC now owns 6,546 shares of the retailer’s stock valued at $723,000 after acquiring an additional 94 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA increased its holdings in Walmart by 2.1% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 4,814 shares of the retailer’s stock worth $470,000 after purchasing an additional 97 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Walmart by 2.7% in the 2nd quarter. Lindbrook Capital LLC now owns 3,751 shares of the retailer’s stock worth $414,000 after purchasing an additional 98 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Walmart by 1.1% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,623 shares of the retailer’s stock worth $939,000 after purchasing an additional 100 shares in the last quarter. Finally, Woodstock Corp increased its holdings in Walmart by 0.3% in the 2nd quarter. Woodstock Corp now owns 36,361 shares of the retailer’s stock worth $4,018,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 30.04% of the company’s stock.
WMT has been the subject of a number of recent research reports. Goldman Sachs Group initiated coverage on Walmart in a report on Thursday, July 11th. They issued a “buy” rating and a $123.00 target price for the company. Sanford C. Bernstein upgraded Walmart from a “market perform” rating to an “outperform” rating and set a $101.80 price target on the stock in a research report on Thursday, May 2nd. UBS Group upped their price target on Walmart from $105.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Daiwa Capital Markets upgraded Walmart from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 21st. Finally, Wolfe Research lowered Walmart from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $109.56.
Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, May 16th. The retailer reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. Walmart had a return on equity of 18.66% and a net margin of 1.62%. The business had revenue of $122.95 billion during the quarter, compared to analyst estimates of $124.51 billion. During the same period in the prior year, the company earned $1.14 earnings per share. Walmart’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Walmart Inc will post 4.84 EPS for the current year.
In other Walmart news, EVP Judith J. Mckenna sold 4,243 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $100.19, for a total transaction of $425,106.17. Following the sale, the executive vice president now owns 225,373 shares in the company, valued at $22,580,120.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Robson Walton sold 1,322,329 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $102.04, for a total value of $134,930,451.16. Following the sale, the director now owns 3,347,511 shares in the company, valued at approximately $341,580,022.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,559,285 shares of company stock valued at $571,021,654. 50.22% of the stock is owned by corporate insiders.
Walmart Company 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, shoes.com, and samsclub.com; and mobile commerce applications.
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