Prosperity Financial Group Inc. Sells 1,875 Shares of Walmart Inc. (NYSE:WMT)

Prosperity Financial Group Inc. reduced its holdings in Walmart Inc. (NYSE:WMT) by 17.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 8,824 shares of the retailer’s stock after selling 1,875 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Walmart were worth $713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC increased its position in shares of Walmart by 4.6% during the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock valued at $3,848,533,000 after buying an additional 2,107,197 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Walmart by 8.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 718,194 shares of the retailer’s stock worth $57,994,000 after acquiring an additional 53,306 shares during the period. Marco Investment Management LLC raised its holdings in Walmart by 0.6% in the third quarter. Marco Investment Management LLC now owns 269,382 shares of the retailer’s stock worth $21,753,000 after purchasing an additional 1,555 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its holdings in shares of Walmart by 1.8% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 69,973 shares of the retailer’s stock valued at $5,650,000 after buying an additional 1,265 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in Walmart by 25.2% during the third quarter. Summit Trail Advisors LLC now owns 44,872 shares of the retailer’s stock worth $3,623,000 after acquiring an additional 9,027 shares in the last quarter. Institutional investors own 26.76% of the company’s stock.

Walmart Stock Up 2.3 %

NYSE WMT opened at $90.44 on Monday. Walmart Inc. has a 52 week low of $49.85 and a 52 week high of $90.91. The company has a quick ratio of 0.23, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $726.98 billion, a P/E ratio of 37.12, a price-to-earnings-growth ratio of 4.29 and a beta of 0.51. The stock’s 50-day moving average price is $82.12 and its 200-day moving average price is $73.94.

Walmart (NYSE:WMT) last released its earnings results on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $169.59 billion for the quarter, compared to analysts’ expectations of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. On average, equities research analysts predict that Walmart Inc. will post 2.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WMT has been the subject of several recent research reports. Guggenheim lifted their target price on shares of Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Melius Research started coverage on Walmart in a research note on Monday, September 23rd. They set a “buy” rating and a $95.00 price objective for the company. Barclays increased their target price on Walmart from $78.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of Walmart from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, StockNews.com lowered shares of Walmart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.88.

Insider Buying and Selling

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total value of $2,348,559.36. Following the transaction, the chief executive officer now directly owns 3,873,053 shares of the company’s stock, valued at approximately $312,322,993.92. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the sale, the insider now directly owns 619,646,544 shares of the company’s stock, valued at approximately $47,687,998,026.24. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,337,337 shares of company stock valued at $958,823,647. Company insiders own 45.58% of the company’s stock.

About Walmart

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.