SouthState Corp Trims Stock Position in Walmart Inc. (NYSE:WMT)

SouthState Corp lessened its stake in Walmart Inc. (NYSE:WMT) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,441 shares of the retailer’s stock after selling 3,592 shares during the period. Walmart makes up about 1.5% of SouthState Corp’s holdings, making the stock its 19th biggest holding. SouthState Corp’s holdings in Walmart were worth $21,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Walmart in the 1st quarter worth approximately $25,000. Peterson Financial Group Inc. bought a new stake in shares of Walmart in the 3rd quarter worth approximately $26,000. TruNorth Capital Management LLC lifted its holdings in shares of Walmart by 138.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after acquiring an additional 249 shares during the last quarter. Cultivar Capital Inc. bought a new stake in shares of Walmart in the 2nd quarter worth approximately $29,000. Finally, FSA Wealth Management LLC raised its holdings in Walmart by 253.0% during the 1st quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock valued at $32,000 after buying an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insider Transactions at Walmart

In other news, EVP Daniel J. Bartlett sold 2,063 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.76, for a total value of $166,607.88. Following the transaction, the executive vice president now owns 459,558 shares in the company, valued at $37,113,904.08. This represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total transaction of $2,348,559.36. Following the completion of the transaction, the chief executive officer now owns 3,873,053 shares in the company, valued at $312,322,993.92. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,337,337 shares of company stock worth $958,823,647 in the last quarter. Company insiders own 45.58% of the company’s stock.

Walmart Stock Performance

Shares of NYSE WMT opened at $84.09 on Tuesday. The firm’s 50-day moving average price is $81.43 and its 200-day moving average price is $73.15. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The company has a market cap of $675.94 billion, a PE ratio of 43.80, a PEG ratio of 4.20 and a beta of 0.51. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $85.79.

Analysts Set New Price Targets

WMT has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $92.00 price target on shares of Walmart in a report on Wednesday, November 13th. Redburn Atlantic upgraded shares of Walmart to a “strong-buy” rating in a report on Monday, September 23rd. Barclays upped their price target on shares of Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Citigroup upped their price objective on shares of Walmart from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company upped their price objective on shares of Walmart from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Walmart currently has a consensus rating of “Buy” and a consensus target price of $86.71.

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.