Tower Bridge Advisors Has $10.19 Million Position in Walmart Inc (WMT)
Tower Bridge Advisors decreased its position in shares of Walmart Inc (NYSE:WMT) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,368 shares of the retailer’s stock after selling 15,944 shares during the period. Walmart accounts for 1.3% of Tower Bridge Advisors’ holdings, making the stock its 25th biggest position. Tower Bridge Advisors’ holdings in Walmart were worth $10,188,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of WMT. Weather Gauge Advisory LLC purchased a new position in shares of Walmart in the fourth quarter worth $339,000. IMS Capital Management raised its holdings in shares of Walmart by 7.7% in the third quarter. IMS Capital Management now owns 16,565 shares of the retailer’s stock worth $1,556,000 after buying an additional 1,188 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Walmart in the third quarter worth $39,376,000. Bath Savings Trust Co raised its holdings in shares of Walmart by 3.8% in the fourth quarter. Bath Savings Trust Co now owns 3,247 shares of the retailer’s stock worth $302,000 after buying an additional 118 shares during the last quarter. Finally, Legacy Capital Partners Inc. raised its holdings in shares of Walmart by 11.3% in the fourth quarter. Legacy Capital Partners Inc. now owns 10,057 shares of the retailer’s stock worth $937,000 after buying an additional 1,017 shares during the last quarter. 28.96% of the stock is owned by institutional investors.
A number of research firms have issued reports on WMT. Zacks Investment Research cut shares of Walmart from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $115.00 price target (up previously from $113.00) on shares of Walmart in a report on Wednesday, February 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a $115.00 price target on shares of Walmart in a report on Thursday, February 21st. Wells Fargo & Co reaffirmed a “neutral” rating and issued a $98.00 price target on shares of Walmart in a report on Tuesday, November 20th. Finally, Buckingham Research began coverage on shares of Walmart in a report on Thursday, February 7th. They issued a “neutral” rating and a $96.73 price target for the company. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $106.29.
Walmart (NYSE:WMT) last issued its earnings results on Tuesday, February 19th. The retailer reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.08. Walmart had a net margin of 1.30% and a return on equity of 18.60%. The firm had revenue of $137.74 billion during the quarter, compared to analysts’ expectations of $137.63 billion. During the same quarter last year, the company posted $1.33 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Walmart Inc will post 4.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.12 annualized dividend and a dividend yield of 2.15%. Walmart’s dividend payout ratio (DPR) is presently 42.36%.
In related news, major shareholder Alice L. Walton sold 500 shares of the firm’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $92.00, for a total transaction of $46,000.00. Following the sale, the insider now owns 7,183,580 shares in the company, valued at $660,889,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 734,950 shares of the firm’s stock in a transaction on Friday, December 28th. The shares were sold at an average price of $92.48, for a total transaction of $67,968,176.00. Following the sale, the insider now owns 7,183,580 shares in the company, valued at approximately $664,337,478.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,094,148 shares of company stock valued at $986,307,308. 51.11% of the stock is currently owned by corporate insiders.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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