Connor Clark & Lunn Investment Management Ltd. Sells 62,926 Shares of Walmart Inc. (NYSE:WMT)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Walmart Inc. (NYSE:WMT) by 17.1% in the third quarter, HoldingsChannel reports. The firm owned 304,401 shares of the retailer’s stock after selling 62,926 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Walmart were worth $24,580,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Walmart by 181.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock valued at $3,421,342,000 after buying an additional 36,625,314 shares in the last quarter. Legal & General Group Plc lifted its position in Walmart by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock valued at $2,456,704,000 after acquiring an additional 644,353 shares during the period. Jennison Associates LLC boosted its stake in Walmart by 479.6% during the third quarter. Jennison Associates LLC now owns 18,479,259 shares of the retailer’s stock worth $1,492,200,000 after acquiring an additional 15,290,936 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Walmart by 3.0% during the third quarter. Raymond James & Associates now owns 16,766,325 shares of the retailer’s stock valued at $1,353,881,000 after purchasing an additional 484,196 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Walmart by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,184,945 shares of the retailer’s stock worth $1,095,946,000 after purchasing an additional 834,005 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WMT has been the subject of a number of recent research reports. Truist Financial lifted their price objective on Walmart from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer lifted their price target on Walmart from $81.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Redburn Atlantic raised shares of Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Bank of America lifted their target price on Walmart from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart has an average rating of “Buy” and a consensus price target of $91.51.

Insiders Place Their Bets

In other news, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were 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 in the company, valued at approximately $47,245,498,149.60. This represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $82.12, for a total value of $246,360.00. Following the completion of the transaction, the executive vice president now owns 378,165 shares of the company’s stock, valued at approximately $31,054,909.80. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,337,337 shares of company stock valued at $958,823,647 in the last quarter. 45.58% of the stock is currently owned by insiders.

Walmart Price Performance

WMT stock opened at $87.18 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.22 and a current ratio of 0.85. The company’s fifty day moving average price is $81.75 and its 200-day moving average price is $73.43. Walmart Inc. has a one year low of $49.85 and a one year high of $88.29. The company has a market capitalization of $700.77 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 4.33 and a beta of 0.51.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that Walmart Inc. will post 2.43 EPS for the current fiscal year.

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.