Hourglass Capital LLC Sells 625 Shares of Walmart Inc. (NYSE:WMT)

Hourglass Capital LLC cut its stake in shares of Walmart Inc. (NYSE:WMT) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,503 shares of the retailer’s stock after selling 625 shares during the period. Walmart accounts for approximately 1.6% of Hourglass Capital LLC’s portfolio, making the stock its 25th largest holding. Hourglass Capital LLC’s holdings in Walmart were worth $5,519,000 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. Partnership Wealth Management LLC purchased a new stake in Walmart in the 4th quarter worth approximately $30,000. Able Wealth Management LLC purchased a new stake in shares of Walmart in the fourth quarter worth $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Walmart during the fourth quarter valued at $32,000. Tidemark LLC purchased a new position in Walmart during the fourth quarter worth about $37,000. Finally, Frank Rimerman Advisors LLC bought a new position in Walmart in the 4th quarter worth about $48,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Walmart news, EVP Daniel J. Bartlett sold 2,398 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $69.50, for a total transaction of $166,661.00. Following the transaction, the executive vice president now owns 463,871 shares in the company, valued at approximately $32,239,034.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder S Robson Walton sold 1,244,347 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $66.63, for a total transaction of $82,910,840.61. Following the sale, the insider now owns 633,518,311 shares of the company’s stock, valued at $42,211,325,061.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel J. Bartlett sold 2,398 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $69.50, for a total transaction of $166,661.00. Following the transaction, the executive vice president now directly owns 463,871 shares of the company’s stock, valued at approximately $32,239,034.50. The disclosure for this sale can be found here. Insiders sold 10,144,237 shares of company stock worth $730,497,016 over the last three months. Company insiders own 45.58% of the company’s stock.

Walmart Stock Performance

Shares of WMT stock opened at $77.02 on Friday. The firm has a market capitalization of $619.11 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 3.87 and a beta of 0.51. The stock has a fifty day moving average of $71.27 and a 200 day moving average of $65.24. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $77.81. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The firm had revenue of $169.30 billion during the quarter, compared to analysts’ expectations of $168.56 billion. During the same period last year, the company posted $0.61 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Walmart Inc. will post 2.44 earnings per share for the current year.

Analysts Set New Price Targets

WMT has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up previously from $81.00) on shares of Walmart in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Walmart from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Morgan Stanley raised their price objective on shares of Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. BMO Capital Markets reissued an “outperform” rating and issued a $80.00 target price on shares of Walmart in a research note on Friday, August 16th. Finally, Barclays lifted their price target on Walmart from $66.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Walmart presently has an average rating of “Moderate Buy” and a consensus price target of $78.99.

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.