Connective Portfolio Management LLC Lowers Stock Holdings in Walmart Inc. (NYSE:WMT)

Connective Portfolio Management LLC lowered its position in Walmart Inc. (NYSE:WMT) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,525 shares of the retailer’s stock after selling 500 shares during the period. Walmart comprises approximately 2.2% of Connective Portfolio Management LLC’s holdings, making the stock its 17th largest position. Connective Portfolio Management LLC’s holdings in Walmart were worth $1,493,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Walmart by 3.3% during the third quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock worth $7,048,465,000 after acquiring an additional 2,786,061 shares during the last quarter. FMR LLC lifted its stake in Walmart by 12.9% in the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock worth $5,098,203,000 after purchasing an additional 7,200,004 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Walmart by 4.6% during the 3rd quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock valued at $3,848,533,000 after purchasing an additional 2,107,197 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Walmart by 3.7% during the third quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer’s stock valued at $3,392,658,000 after purchasing an additional 1,480,927 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Walmart by 1.8% in the second quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock worth $2,456,704,000 after purchasing an additional 644,353 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Stock Performance

Shares of Walmart stock opened at $91.33 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average price is $90.86 and its 200-day moving average price is $81.03. The firm has a market cap of $733.70 billion, a P/E ratio of 37.48, a P/E/G ratio of 4.41 and a beta of 0.55. Walmart Inc. has a 12 month low of $53.44 and a 12 month high of $96.18.

Walmart (NYSE:WMT) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The company had revenue of $169.59 billion for the quarter, compared to analysts’ expectations of $167.69 billion. During the same period in the prior year, the business earned $0.51 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.

Insider Activity at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $82.79, for a total value of $2,411,175.96. Following the transaction, the chief executive officer now directly owns 3,843,929 shares in the company, valued at approximately $318,238,881.91. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $82.96, for a total value of $1,088,850.00. Following the sale, the executive vice president now owns 593,040 shares of the company’s stock, valued at $49,198,598.40. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,347 shares of company stock valued at $12,311,491 over the last ninety days. 45.58% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price target on Walmart from $105.00 to $111.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Piper Sandler raised their target price on shares of Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, November 18th. TD Cowen upped their price target on shares of Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Roth Mkm lifted their price objective on shares of Walmart from $81.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Bank of America upped their target price on shares of Walmart from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Walmart presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.49.

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.