Private Harbour Investment Management & Counsel LLC Cuts Stock Position in Walmart Inc. (NYSE:WMT)

Private Harbour Investment Management & Counsel LLC cut its stake in Walmart Inc. (NYSE:WMT) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,614 shares of the retailer’s stock after selling 690 shares during the period. Walmart comprises about 1.9% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 19th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Walmart were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Aveo Capital Partners LLC increased its position in Walmart by 4.8% during the fourth quarter. Aveo Capital Partners LLC now owns 4,330 shares of the retailer’s stock worth $683,000 after buying an additional 197 shares during the period. 9258 Wealth Management LLC raised its position in Walmart by 1.8% in the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the retailer’s stock valued at $2,045,000 after purchasing an additional 235 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in Walmart by 58.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,631 shares of the retailer’s stock worth $1,033,000 after purchasing an additional 2,443 shares during the period. M&G Investment Management Ltd. purchased a new stake in shares of Walmart in the fourth quarter valued at about $2,461,000. Finally, Wade G W & Inc. grew its holdings in shares of Walmart by 3.9% during the fourth quarter. Wade G W & Inc. now owns 29,041 shares of the retailer’s stock worth $4,578,000 after buying an additional 1,095 shares during the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WMT shares. TD Cowen boosted their target price on Walmart from $80.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 16th. Tigress Financial upped their price objective on shares of Walmart from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $81.00) on shares of Walmart in a report on Friday, August 16th. StockNews.com raised Walmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Finally, Bank of America raised their target price on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.99.

Walmart Price Performance

Walmart stock opened at $78.84 on Thursday. Walmart Inc. has a 1 year low of $49.85 and a 1 year high of $78.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. The firm has a 50 day moving average price of $72.07 and a 200 day moving average price of $65.85. The company has a market cap of $633.74 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 3.84 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $168.56 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Walmart Inc. will post 2.44 earnings per share for the current year.

Insider Transactions at Walmart

In related news, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Walmart news, major shareholder Alice L. Walton sold 2,709,163 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total value of $209,607,941.31. Following the transaction, the insider now directly owns 630,501,148 shares of the company’s stock, valued at approximately $48,781,873,820.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. The disclosure for this sale can be found here. Insiders sold 10,513,707 shares of company stock valued at $797,374,003 over the last 90 days. Corporate 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.