Walmart Inc. (NYSE:WMT) Position Lessened by Hayek Kallen Investment Management

Hayek Kallen Investment Management reduced its stake in shares of Walmart Inc. (NYSE:WMT) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,392 shares of the retailer’s stock after selling 1,575 shares during the quarter. Walmart makes up 3.6% of Hayek Kallen Investment Management’s holdings, making the stock its 4th largest position. Hayek Kallen Investment Management’s holdings in Walmart were worth $10,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Walmart by 199.4% during the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock worth $24,774,717,000 after acquiring an additional 274,229,968 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Walmart by 181.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock valued at $3,421,342,000 after purchasing an additional 36,625,314 shares in the last quarter. Swiss National Bank raised its holdings in shares of Walmart by 187.4% in the first quarter. Swiss National Bank now owns 13,303,200 shares of the retailer’s stock worth $800,454,000 after buying an additional 8,674,100 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Walmart by 284.0% during the first quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock worth $669,227,000 after buying an additional 8,225,552 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Walmart by 184.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,567,533 shares of the retailer’s stock worth $756,188,000 after buying an additional 8,144,393 shares during the period. Institutional investors own 26.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WMT shares. UBS Group raised their target price on Walmart from $81.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday. KeyCorp raised their price objective on Walmart from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com raised Walmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Guggenheim increased their price target on shares of Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Truist Financial upgraded shares of Walmart from a “hold” rating to a “buy” rating and lifted their price objective for the company from $76.00 to $89.00 in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $82.96.

Walmart Price Performance

Shares of WMT traded up $1.42 during mid-day trading on Tuesday, hitting $81.71. 5,721,077 shares of the company were exchanged, compared to its average volume of 17,187,270. The stock has a market cap of $657.24 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 3.99 and a beta of 0.51. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $81.82. The company has a 50 day moving average of $76.80 and a 200-day moving average of $69.07. 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 (NYSE:WMT) last released its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. Analysts expect that Walmart Inc. will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.61, for a total transaction of $2,056,445.64. Following the completion of the sale, the chief executive officer now owns 3,931,301 shares of the company’s stock, valued at $277,589,163.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.61, for a total transaction of $2,056,445.64. Following the transaction, the chief executive officer now directly owns 3,931,301 shares in the company, valued at $277,589,163.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total value of $209,607,941.31. Following the completion of the sale, the insider now owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,335,272 shares of company stock worth $958,101,276. Corporate 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.