Hartford Investment Management Co. Cuts Stake in Walmart Inc. (NYSE:WMT)

Hartford Investment Management Co. lessened its holdings in shares of Walmart Inc. (NYSE:WMT) by 0.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 273,437 shares of the retailer’s stock after selling 150 shares during the quarter. Walmart accounts for about 0.7% of Hartford Investment Management Co.’s investment portfolio, making the stock its 21st largest holding. Hartford Investment Management Co.’s holdings in Walmart were worth $22,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Walmart during the 1st quarter worth approximately $25,000. TruNorth Capital Management LLC grew its position in Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after acquiring an additional 249 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in Walmart in the second quarter valued at approximately $29,000. FSA Wealth Management LLC grew its position in Walmart by 253.0% in the first quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock valued at $32,000 after acquiring an additional 377 shares in the last quarter. Finally, Kozak & Associates Inc. grew its position in Walmart by 216.4% in the first quarter. Kozak & Associates Inc. now owns 503 shares of the retailer’s stock valued at $32,000 after acquiring an additional 344 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WMT. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up previously from $81.00) on shares of Walmart in a research report on Friday, August 16th. Sanford C. Bernstein began coverage on shares of Walmart in a research report on Tuesday. They issued an “outperform” rating and a $95.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Morgan Stanley raised their price target on shares of Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group raised their price target on shares of Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Walmart currently has an average rating of “Buy” and a consensus target price of $83.51.

Insider Activity

In other news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $69.19, for a total transaction of $207,570.00. Following the transaction, the executive vice president now directly owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Daniel J. Bartlett sold 2,065 shares of Walmart stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.69, for a total transaction of $166,624.85. Following the transaction, the executive vice president now directly owns 457,493 shares of the company’s stock, valued at $36,915,110.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the transaction, the executive vice president now directly owns 387,165 shares in the company, valued at approximately $26,787,946.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,295,088 shares of company stock valued at $955,284,831. Company insiders own 45.58% of the company’s stock.

Walmart Price Performance

Shares of WMT opened at $83.26 on Thursday. The firm has a market capitalization of $669.26 billion, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 4.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. Walmart Inc. has a one year low of $49.85 and a one year high of $83.34. The stock’s fifty day moving average is $78.71 and its 200-day moving average is $70.08.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Equities analysts anticipate that Walmart Inc. will post 2.44 EPS for the current year.

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.