Ballast Inc. Sells 489 Shares of Walmart Inc. (NYSE:WMT)

Ballast Inc. trimmed its position in Walmart Inc. (NYSE:WMT) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,372 shares of the retailer’s stock after selling 489 shares during the quarter. Walmart accounts for 0.6% of Ballast Inc.’s holdings, making the stock its 27th largest holding. Ballast Inc.’s holdings in Walmart were worth $2,210,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WMT. AHL Investment Management Inc. grew its stake in Walmart by 192.1% in the first quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock valued at $1,444,000 after purchasing an additional 15,785 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in shares of Walmart during the first quarter worth $270,000. Commerce Bank lifted its holdings in shares of Walmart by 189.4% during the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock valued at $55,213,000 after purchasing an additional 600,521 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Walmart by 290.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 270,065 shares of the retailer’s stock worth $16,250,000 after purchasing an additional 200,947 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Walmart by 189.4% during the 1st quarter. Private Advisor Group LLC now owns 643,848 shares of the retailer’s stock worth $38,740,000 after buying an additional 421,366 shares during the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Trading Down 0.4 %

WMT opened at $80.90 on Friday. The firm has a market capitalization of $650.72 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 4.02 and a beta of 0.51. The company’s 50 day simple moving average is $77.63 and its two-hundred day simple moving average is $69.39. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $81.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $0.61 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Walmart Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity

In other Walmart news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the completion of the sale, the insider now owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the transaction, the insider now directly owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. This represents a 0.00 % 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 business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.60, for a total value of $926,625.00. Following the completion of the sale, the executive vice president now directly owns 632,415 shares in the company, valued at approximately $44,648,499. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,337,337 shares of company stock valued at $958,267,901. 45.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WMT shares. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up previously from $81.00) on shares of Walmart in a report on Friday, August 16th. Robert W. Baird raised their price target on shares of Walmart from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Melius Research began coverage on shares of Walmart in a report on Monday, September 23rd. They set a “buy” rating and a $95.00 price objective on the stock. Stifel Nicolaus raised their target price on Walmart from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Walmart from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $82.96.

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.