Bangor Savings Bank increased its position in shares of Walmart Inc. (NYSE:WMT) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,618 shares of the retailer’s stock after purchasing an additional 299 shares during the quarter. Bangor Savings Bank’s holdings in Walmart were worth $1,985,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management raised its position in Walmart by 0.9% in the fourth quarter. Cardinal Capital Management now owns 45,859 shares of the retailer’s stock worth $6,611,000 after acquiring an additional 388 shares during the period. Ashfield Capital Partners LLC raised its position in shares of Walmart by 2.5% in the fourth quarter. Ashfield Capital Partners LLC now owns 78,819 shares of the retailer’s stock valued at $11,362,000 after purchasing an additional 1,929 shares during the period. Equitable Holdings Inc. raised its position in shares of Walmart by 14.5% in the fourth quarter. Equitable Holdings Inc. now owns 10,776 shares of the retailer’s stock valued at $1,553,000 after purchasing an additional 1,363 shares during the period. ExodusPoint Capital Management LP raised its position in shares of Walmart by 12.2% in the fourth quarter. ExodusPoint Capital Management LP now owns 58,616 shares of the retailer’s stock valued at $8,449,000 after purchasing an additional 6,378 shares during the period. Finally, Doyle Wealth Management raised its position in shares of Walmart by 0.6% in the fourth quarter. Doyle Wealth Management now owns 178,833 shares of the retailer’s stock valued at $25,779,000 after purchasing an additional 1,060 shares during the period. Institutional investors and hedge funds own 29.34% of the company’s stock.
Several analysts have recently issued reports on the stock. Credit Suisse Group set a $150.00 price target on shares of Walmart and gave the company a “buy” rating in a research report on Friday, February 19th. Morgan Stanley reduced their price objective on shares of Walmart from $156.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, February 25th. Raymond James reduced their price objective on shares of Walmart from $165.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, February 25th. Royal Bank of Canada set a $162.00 price objective on shares of Walmart and gave the company a “buy” rating in a research note on Friday, February 19th. Finally, Zacks Investment Research raised shares of Walmart from a “sell” rating to a “hold” rating and set a $147.00 price target for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. Walmart currently has an average rating of “Buy” and a consensus target price of $154.17.
Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, February 18th. The retailer reported $1.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.12). Walmart had a net margin of 3.30% and a return on equity of 19.13%. The firm had revenue of $152.08 billion for the quarter, compared to analysts’ expectations of $148.52 billion. During the same period last year, the company posted $1.38 earnings per share. As a group, analysts anticipate that Walmart Inc. will post 5.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Friday, December 10th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, December 9th. Walmart’s dividend payout ratio (DPR) is 44.62%.
Walmart announced that its board has initiated a stock repurchase plan on Thursday, February 18th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the retailer to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, major shareholder Alice L. Walton sold 710,440 shares of the stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $130.64, for a total value of $92,811,881.60. Following the transaction, the insider now owns 21,748,580 shares in the company, valued at approximately $2,841,234,491.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall L. Stephenson acquired 7,725 shares of the stock in a transaction dated Monday, March 8th. The stock was acquired at an average price of $129.63 per share, for a total transaction of $1,001,391.75. Following the purchase, the director now directly owns 8,308 shares in the company, valued at $1,076,966.04. The disclosure for this purchase can be found here. Insiders have sold a total of 2,000,000 shares of company stock worth $262,916,487 over the last three months. 50.43% of the stock is currently owned by insiders.
Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
Further Reading: Earnings Per Share
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