TCI Wealth Advisors Inc. lessened its position in Walmart Inc. (NYSE:WMT) by 3.7% during the third quarter, Holdings Channel reports. The fund owned 8,210 shares of the retailer’s stock after selling 313 shares during the period. TCI Wealth Advisors Inc.’s holdings in Walmart were worth $1,149,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC lifted its stake in Walmart by 640.6% during the second quarter. Evolution Wealth Advisors LLC now owns 237 shares of the retailer’s stock worth $28,000 after purchasing an additional 205 shares during the last quarter. Marquette Asset Management LLC purchased a new position in shares of Walmart during the 2nd quarter valued at about $34,000. Atlantic Trust LLC lifted its position in Walmart by 42.0% in the 2nd quarter. Atlantic Trust LLC now owns 284 shares of the retailer’s stock worth $34,000 after buying an additional 84 shares during the last quarter. Selective Wealth Management Inc. bought a new stake in Walmart in the 2nd quarter worth approximately $36,000. Finally, Carolina Wealth Advisors LLC boosted its stake in Walmart by 57.6% in the third quarter. Carolina Wealth Advisors LLC now owns 260 shares of the retailer’s stock worth $36,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 29.34% of the company’s stock.
A number of brokerages have recently weighed in on WMT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $144.00 price objective (up previously from $142.00) on shares of Walmart in a research note on Wednesday, August 19th. Telsey Advisory Group raised their price objective on Walmart from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. DA Davidson assumed coverage on Walmart in a research note on Friday, August 14th. They issued a “buy” rating and a $148.00 target price for the company. Raymond James raised their price target on Walmart from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Finally, Zacks Investment Research upgraded Walmart from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $141.46.
Walmart (NYSE:WMT) last issued its quarterly earnings results on Tuesday, August 18th. The retailer reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.31. Walmart had a net margin of 3.30% and a return on equity of 19.13%. The company had revenue of $137.70 billion during the quarter, compared to analyst estimates of $133.77 billion. During the same period last year, the business earned $1.27 EPS. Walmart’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Walmart Inc. will post 5.33 earnings per share for the current year.
In other news, major shareholder Alice L. Walton sold 752,085 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $137.20, for a total value of $103,186,062.00. Following the sale, the insider now directly owns 11,323,580 shares of the company’s stock, valued at $1,553,595,176. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Marc E. Lore sold 85,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $129.22, for a total value of $10,983,700.00. Following the transaction, the executive vice president now owns 1,858,073 shares of the company’s stock, valued at $240,100,193.06. The disclosure for this sale can be found here. Insiders have sold 1,011,690 shares of company stock valued at $138,850,587 in the last ninety days. Insiders own 50.43% of the company’s stock.
Walmart Company Profile
Walmart Inc engages in the retail and wholesale operations in various formats worldwide. The company operates in 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; ecommerce websites, such as walmart.com, walmart.com.mx, asda.com, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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