Parthenon LLC Reduces Holdings in Walmart Inc. (NYSE:WMT)

Parthenon LLC reduced its holdings in shares of Walmart Inc. (NYSE:WMT) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,492 shares of the retailer’s stock after selling 5,438 shares during the quarter. Walmart makes up 2.0% of Parthenon LLC’s investment portfolio, making the stock its 15th largest position. Parthenon LLC’s holdings in Walmart were worth $15,945,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Able Wealth Management LLC acquired a new stake in shares of Walmart during the 4th quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Walmart in the fourth quarter worth approximately $32,000. Tidemark LLC acquired a new stake in shares of Walmart in the fourth quarter worth approximately $37,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Walmart in the fourth quarter worth approximately $48,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Walmart in the fourth quarter worth approximately $50,000. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Walmart Stock Up 1.0 %

WMT stock opened at $79.66 on Friday. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $79.90. The firm has a market cap of $640.33 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 3.95 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22. The firm has a fifty day moving average price of $72.30 and a two-hundred day moving average price of $65.95.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating 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 company 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 company posted $0.61 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that Walmart Inc. will post 2.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WMT. Jefferies Financial Group raised their target price on shares of Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup raised their target price on shares of Walmart from $63.33 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Truist Financial raised their target price on shares of Walmart from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. UBS Group lifted their price target on shares of Walmart from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus lifted their price target on shares of Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Walmart currently has an average rating of “Moderate Buy” and an average price target of $78.99.

Insider Buying and Selling

In other Walmart news, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares in the company, valued at $47,245,498,149.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the sale, the chief executive officer now owns 3,960,402 shares in the company, valued at approximately $270,851,892.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. The disclosure for this sale can be found here. Insiders sold 9,269,360 shares of company stock valued at $714,463,163 over the last 90 days. 45.58% of the stock is currently owned by company insiders.

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.