Panagora Asset Management Inc. trimmed its position in Walmart Inc. (NYSE:WMT) by 56.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 493,087 shares of the retailer’s stock after selling 651,801 shares during the quarter. Panagora Asset Management Inc.’s holdings in Walmart were worth $66,976,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WMT. Greenhouse Wealth Management LLC acquired a new position in shares of Walmart during the 4th quarter worth $26,000. Albion Financial Group UT acquired a new position in Walmart during the fourth quarter worth about $27,000. ShoreHaven Wealth Partners LLC bought a new position in shares of Walmart in the fourth quarter worth about $29,000. Perennial Advisors LLC acquired a new stake in shares of Walmart in the 4th quarter valued at approximately $32,000. Finally, Clark Estates Inc. NY bought a new stake in shares of Walmart during the fourth quarter worth $36,000. Institutional investors and hedge funds own 29.21% of the company’s stock.
NYSE:WMT traded up $0.34 on Friday, hitting $140.22. The stock had a trading volume of 21,481 shares, compared to its average volume of 8,714,280. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.37 and a current ratio of 0.95. Walmart Inc. has a 52 week low of $117.01 and a 52 week high of $153.66. The company’s fifty day moving average price is $140.25. The company has a market cap of $392.92 billion, a P/E ratio of 32.60, a PEG ratio of 4.33 and a beta of 0.46.
Walmart declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 18th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the retailer to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several equities analysts have issued reports on WMT shares. Zacks Investment Research upgraded shares of Walmart from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research report on Monday, May 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $170.00 target price on shares of Walmart in a research report on Tuesday, May 18th. Raymond James upped their price target on Walmart from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, May 25th. MKM Partners increased their price target on Walmart from $141.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, May 25th. Finally, Citigroup lifted their price objective on Walmart from $172.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $162.20.
In other Walmart news, SVP David Chojnowski sold 5,946 shares of Walmart stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $142.16, for a total transaction of $845,283.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO C Douglas Mcmillon sold 9,708 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $141.01, for a total value of $1,368,925.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,235,353 shares of company stock worth $1,301,680,977. Corporate insiders own 50.43% of the company’s stock.
Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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