Townsend & Associates Inc Sells 1,997 Shares of Walmart Inc. (NYSE:WMT)

Townsend & Associates Inc trimmed its stake in Walmart Inc. (NYSE:WMT) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,179 shares of the retailer’s stock after selling 1,997 shares during the quarter. Walmart makes up about 2.2% of Townsend & Associates Inc’s portfolio, making the stock its 15th biggest holding. Townsend & Associates Inc’s holdings in Walmart were worth $21,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Marshall Investment Management LLC bought a new position in shares of Walmart during the 4th quarter worth approximately $2,939,000. TCW Group Inc. boosted its stake in shares of Walmart by 0.9% during the 4th quarter. TCW Group Inc. now owns 152,475 shares of the retailer’s stock worth $13,776,000 after acquiring an additional 1,360 shares during the period. FPC Investment Advisory Inc. bought a new position in shares of Walmart during the 4th quarter worth approximately $25,000. Capital City Trust Co. FL boosted its stake in shares of Walmart by 1.2% during the 4th quarter. Capital City Trust Co. FL now owns 85,566 shares of the retailer’s stock worth $7,731,000 after acquiring an additional 1,018 shares during the period. Finally, Redmond Asset Management LLC bought a new position in shares of Walmart during the 4th quarter worth approximately $2,048,000. 26.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Walmart news, EVP Daniel J. Bartlett sold 1,830 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.07, for a total value of $166,658.10. Following the sale, the executive vice president now owns 460,705 shares in the company, valued at approximately $41,956,404.35. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John D. Rainey sold 38,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $98.80, for a total value of $3,754,400.00. Following the completion of the sale, the executive vice president now owns 257,281 shares in the company, valued at $25,419,362.80. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,777 shares of company stock valued at $16,570,112 in the last 90 days. Corporate insiders own 45.58% of the company’s stock.

Wall Street Analyst Weigh In

WMT has been the subject of several research analyst reports. Roth Mkm reiterated a “buy” rating and set a $108.00 target price (up from $97.00) on shares of Walmart in a research note on Friday. JPMorgan Chase & Co. boosted their price target on Walmart from $97.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Tigress Financial boosted their price target on Walmart from $86.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup restated a “positive” rating on shares of Walmart in a research note on Thursday. Finally, Piper Sandler boosted their price target on Walmart from $93.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.43.

Walmart Price Performance

Walmart stock opened at $94.70 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. Walmart Inc. has a 52 week low of $57.77 and a 52 week high of $105.30. The stock has a market capitalization of $760.77 billion, a P/E ratio of 39.30, a price-to-earnings-growth ratio of 4.42 and a beta of 0.55. The stock has a fifty day moving average of $95.63 and a 200-day moving average of $86.57.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The company had revenue of $180.55 billion during the quarter, compared to analysts’ expectations of $178.83 billion. On average, sell-side analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be issued a $0.235 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a yield of 0.99%. Walmart’s payout ratio is presently 34.44%.

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.