New Millennium Group LLC Cuts Stock Position in Walmart Inc. (NYSE:WMT)

New Millennium Group LLC cut its stake in shares of Walmart Inc. (NYSE:WMT) by 9.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,756 shares of the retailer’s stock after selling 279 shares during the period. New Millennium Group LLC’s holdings in Walmart were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WMT. Oxbow Advisors LLC grew its holdings in shares of Walmart by 45.0% during the third quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock worth $2,298,000 after buying an additional 8,834 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Walmart by 21.9% during the third quarter. Crossmark Global Holdings Inc. now owns 587,001 shares of the retailer’s stock worth $47,400,000 after acquiring an additional 105,430 shares during the last quarter. Whalerock Point Partners LLC grew its stake in Walmart by 213.5% during the 1st quarter. Whalerock Point Partners LLC now owns 29,613 shares of the retailer’s stock valued at $1,782,000 after acquiring an additional 20,167 shares in the last quarter. WFA Asset Management Corp raised its holdings in Walmart by 201.0% in the 1st quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after acquiring an additional 1,397 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Walmart by 14.9% in the 3rd quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock worth $503,517,000 after purchasing an additional 809,352 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Walmart Trading Up 2.1 %

WMT opened at $85.82 on Tuesday. 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 Inc. has a 52 week low of $49.85 and a 52 week high of $85.82. The business’s 50 day moving average is $81.43 and its two-hundred day moving average is $73.15. The firm has a market cap of $689.84 billion, a price-to-earnings ratio of 43.80, a price-to-earnings-growth ratio of 4.20 and a beta of 0.51.

Walmart (NYSE:WMT) last announced its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business had revenue of $169.59 billion for the quarter, compared to analyst estimates of $167.69 billion. During the same period last year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts predict that Walmart Inc. will post 2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WMT shares. Melius Research initiated coverage on Walmart in a research note on Monday, September 23rd. They set a “buy” rating and a $95.00 price objective on the stock. The Goldman Sachs Group boosted their price target on shares of Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Bank of America raised their price objective on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Walmart from $77.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Citigroup raised their price target on shares of Walmart from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $86.71.

Insider Activity

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total value of $232,440.00. Following the transaction, the executive vice president now owns 384,165 shares in the company, valued at $29,765,104.20. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John R. Furner sold 13,125 shares of the stock in a transaction that occurred 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 directly owns 593,040 shares of the company’s stock, valued at $49,198,598.40. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,337,337 shares of company stock valued at $958,823,647. Insiders own 45.58% of the company’s stock.

About Walmart

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.