Nippon Life Global Investors Americas Inc. reduced its stake in Walmart Inc (NYSE:WMT) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,465 shares of the retailer’s stock after selling 5,660 shares during the quarter. Walmart makes up 1.2% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 25th largest holding. Nippon Life Global Investors Americas Inc.’s holdings in Walmart were worth $16,385,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WMT. CSat Investment Advisory L.P. purchased a new stake in Walmart in the 2nd quarter valued at $111,000. Amussen Hunsaker Associates LLC purchased a new stake in Walmart in the 2nd quarter valued at $152,000. ELM Advisors LLC purchased a new stake in Walmart in the 3rd quarter valued at $152,000. Harvest Fund Management Co. Ltd purchased a new stake in Walmart in the 3rd quarter valued at $162,000. Finally, Kiley Juergens Wealth Management LLC purchased a new stake in Walmart in the 2nd quarter valued at $165,000. 29.42% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Stifel Nicolaus restated a “neutral” rating and issued a $95.00 price objective on shares of Walmart in a research note on Friday, August 17th. Telsey Advisory Group upped their price objective on Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of Walmart in a research note on Tuesday, October 16th. Royal Bank of Canada restated a “neutral” rating and issued a $90.00 price objective on shares of Walmart in a research note on Thursday, August 9th. Finally, Zacks Investment Research downgraded Walmart from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Eighteen analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Walmart has a consensus rating of “Buy” and a consensus target price of $103.16.
Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 16th. The retailer reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.07. The company had revenue of $127.06 billion during the quarter, compared to the consensus estimate of $124.67 billion. Walmart had a return on equity of 18.16% and a net margin of 1.02%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 EPS. On average, equities analysts forecast that Walmart Inc will post 4.77 EPS for the current year.
In related news, insider Jacqueline P. Canney sold 1,575 shares of the stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $95.48, for a total transaction of $150,381.00. Following the sale, the insider now owns 57,276 shares of the company’s stock, valued at approximately $5,468,712.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jim C. Walton sold 2,009,792 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $94.63, for a total value of $190,186,616.96. Following the sale, the insider now directly owns 10,557,224 shares in the company, valued at approximately $999,030,107.12. The disclosure for this sale can be found here. Insiders have sold a total of 10,199,130 shares of company stock worth $976,228,654 in the last three months. 51.11% of the stock is currently owned by insiders.
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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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