Pinnacle Financial Partners Inc Trims Holdings in Walmart Inc. (NYSE:WMT)

Pinnacle Financial Partners Inc lowered its stake in shares of Walmart Inc. (NYSE:WMT) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,126 shares of the retailer’s stock after selling 762 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Walmart were worth $12,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank AB boosted its holdings in Walmart by 0.4% in the 3rd quarter. Swedbank AB now owns 5,345,293 shares of the retailer’s stock worth $431,632,000 after acquiring an additional 18,644 shares during the period. X Square Capital LLC increased its position in Walmart by 3.1% in the third quarter. X Square Capital LLC now owns 34,460 shares of the retailer’s stock worth $2,783,000 after buying an additional 1,032 shares during the period. Global Assets Advisory LLC acquired a new stake in Walmart in the third quarter worth $1,082,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Walmart by 11.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 101,000 shares of the retailer’s stock valued at $8,156,000 after purchasing an additional 10,006 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its stake in shares of Walmart by 2.2% during the third quarter. Beese Fulmer Investment Management Inc. now owns 22,430 shares of the retailer’s stock valued at $1,811,000 after purchasing an additional 490 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.44, for a total value of $2,663,098.56. Following the transaction, the chief executive officer now owns 3,814,805 shares in the company, valued at approximately $348,825,769.20. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,830 shares of the business’s stock in a transaction on 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 $41,956,404.35. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,777 shares of company stock worth $16,570,112. Insiders own 45.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Guggenheim boosted their price target on shares of Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group lifted their price target on Walmart from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. lifted their price target on Walmart from $97.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. UBS Group dropped their price target on Walmart from $113.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday. Finally, BMO Capital Markets lifted their target price on Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Walmart currently has an average rating of “Moderate Buy” and a consensus price target of $102.43.

Walmart Stock Performance

WMT opened at $94.70 on Friday. Walmart Inc. has a 12-month low of $57.77 and a 12-month high of $105.30. The stock has a market cap of $760.77 billion, a price-to-earnings ratio of 39.30, a PEG ratio of 4.42 and a beta of 0.55. The business has a 50 day moving average of $95.63 and a 200-day moving average of $86.44. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40.

Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, beating 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, equities research analysts expect that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Announces Dividend

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

Walmart Profile

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.