Sound Income Strategies LLC cut its holdings in shares of Walmart Inc (NYSE:WMT) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,223 shares of the retailer’s stock after selling 868 shares during the period. Walmart accounts for approximately 0.7% of Sound Income Strategies LLC’s investment portfolio, making the stock its 17th biggest holding. Sound Income Strategies LLC’s holdings in Walmart were worth $1,418,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Cornerstone Advisors Inc. grew its holdings in shares of Walmart by 32.1% during the third quarter. Cornerstone Advisors Inc. now owns 906 shares of the retailer’s stock valued at $85,000 after buying an additional 220 shares during the last quarter. CSat Investment Advisory L.P. purchased a new stake in Walmart in the second quarter valued at $111,000. Amussen Hunsaker Associates LLC purchased a new stake in Walmart in the second quarter valued at $152,000. ELM Advisors LLC purchased a new stake in Walmart in the third quarter valued at $152,000. Finally, Berman Capital Advisors LLC purchased a new stake in Walmart in the third quarter valued at $158,000. 29.09% of the stock is currently owned by institutional investors and hedge funds.
WMT has been the topic of several recent research reports. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Walmart in a report on Wednesday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Walmart to $108.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Credit Suisse Group set a $103.00 price target on shares of Walmart and gave the company a “hold” rating in a report on Thursday, November 15th. MKM Partners lowered their price target on shares of Walmart from $107.00 to $105.00 in a report on Monday, October 22nd. Finally, KeyCorp upped their price target on shares of Walmart from $107.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, November 16th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $104.18.
Walmart (NYSE:WMT) last released its quarterly earnings results on Thursday, November 15th. The retailer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. Walmart had a net margin of 1.01% and a return on equity of 18.36%. The firm had revenue of $124.89 billion during the quarter, compared to the consensus estimate of $124.86 billion. As a group, sell-side analysts expect that Walmart Inc will post 4.83 earnings per share for the current year.
In other Walmart news, major shareholder Alice L. Walton sold 734,950 shares of the stock in a transaction dated Saturday, December 28th. The shares were sold at an average price of $92.48, for a total value of $67,968,176.00. Following the completion of the sale, the insider now owns 7,183,580 shares in the company, valued at approximately $664,337,478.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 500 shares of the stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $92.00, for a total transaction of $46,000.00. Following the completion of the sale, the insider now owns 7,183,580 shares of the company’s stock, valued at approximately $660,889,360. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,818,674 shares of company stock valued at $1,122,286,815. Insiders own 51.11% of the company’s stock.
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Walmart Company Profile
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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