Griffin Asset Management Inc. Sells 6,750 Shares of Walmart Inc. (NYSE:WMT)

Griffin Asset Management Inc. cut its holdings in shares of Walmart Inc. (NYSE:WMT) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,553 shares of the retailer’s stock after selling 6,750 shares during the period. Walmart makes up approximately 1.7% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 14th largest holding. Griffin Asset Management Inc.’s holdings in Walmart were worth $13,480,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Walmart in the fourth quarter valued at about $25,000. Horizon Financial Services LLC grew its position in shares of Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock valued at $26,000 after purchasing an additional 262 shares during the last quarter. Noble Wealth Management PBC acquired a new position in shares of Walmart in the fourth quarter valued at approximately $37,000. Mizuho Bank Ltd. acquired a new position in shares of Walmart in the fourth quarter valued at approximately $41,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Walmart in the first quarter valued at approximately $49,000. 26.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WMT has been the topic of a number of analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Walmart in a research report on Monday, May 5th. Robert W. Baird increased their price target on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Raymond James lowered their target price on Walmart from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Wall Street Zen raised Walmart from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, DA Davidson reiterated a “buy” rating and set a $117.00 price target on shares of Walmart in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Walmart Trading Down 0.7%

NYSE:WMT opened at $94.20 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $751.76 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69. The firm’s 50 day moving average is $95.79 and its 200 day moving average is $94.06. Walmart Inc. has a 12 month low of $66.30 and a 12 month high of $105.30.

Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The business had revenue of $165.61 billion during the quarter, compared to analyst estimates of $164.53 billion. During the same period in the previous year, the business earned $0.60 EPS. Walmart’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were given a dividend of $0.235 per share. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 0.95%. Walmart’s dividend payout ratio (DPR) is currently 40.17%.

Insider Activity

In other Walmart news, CEO C Douglas Mcmillon sold 29,148 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total value of $2,815,113.84. Following the completion of the sale, the chief executive officer now directly owns 4,451,199 shares of the company’s stock, valued at $429,896,799.42. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John D. Rainey sold 2,200 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $99.00, for a total transaction of $217,800.00. Following the completion of the sale, the executive vice president now directly owns 630,518 shares of the company’s stock, valued at $62,421,282. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,534 shares of company stock worth $12,833,664 in the last three months. Corporate insiders own 45.58% of the company’s stock.

Walmart Company 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.