Bogart Wealth LLC Decreases Holdings in Walmart Inc. (NYSE:WMT)

Bogart Wealth LLC trimmed its holdings in Walmart Inc. (NYSE:WMT) by 12.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 112,820 shares of the retailer’s stock after selling 15,716 shares during the quarter. Bogart Wealth LLC’s holdings in Walmart were worth $9,110,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted 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 valued at $24,774,717,000 after purchasing an additional 274,229,968 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Walmart by 181.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after purchasing an additional 36,625,314 shares during the period. Legal & General Group Plc boosted its position in Walmart by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock valued at $2,456,704,000 after acquiring an additional 644,353 shares in the last quarter. Raymond James & Associates boosted its position in shares of Walmart by 3.0% during the third quarter. Raymond James & Associates now owns 16,766,325 shares of the retailer’s stock valued at $1,353,881,000 after purchasing an additional 484,196 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Walmart by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,184,945 shares of the retailer’s stock valued at $1,095,946,000 after buying an additional 834,005 shares in the last quarter. 26.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WMT shares. Royal Bank of Canada upped their price objective on shares of Walmart from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Truist Financial upgraded 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. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up from $81.00) on shares of Walmart in a research note on Friday, August 16th. Jefferies Financial Group lifted their price target on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley increased their price objective on shares of Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $83.51.

Walmart Price Performance

Shares of NYSE:WMT opened at $83.05 on Friday. The company has a market capitalization of $667.58 billion, a P/E ratio of 43.18, a P/E/G ratio of 4.11 and a beta of 0.51. Walmart Inc. has a 1-year low of $49.85 and a 1-year high of $83.34. The firm’s 50 day simple moving average is $78.71 and its two-hundred day simple moving average is $70.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22.

Walmart (NYSE:WMT) last released its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. During the same quarter in the previous year, the company earned $0.61 EPS. Walmart’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts expect that Walmart Inc. will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Daniel J. Bartlett sold 2,065 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.69, for a total value of $166,624.85. Following the transaction, the executive vice president now directly owns 457,493 shares of the company’s stock, valued at approximately $36,915,110.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Walmart news, EVP Daniel J. Bartlett sold 2,065 shares of Walmart stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.69, for a total value of $166,624.85. Following the sale, the executive vice president now directly owns 457,493 shares in the company, valued at approximately $36,915,110.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the completion of the sale, the insider now owns 630,501,148 shares in the company, valued at approximately $48,781,873,820.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,295,088 shares of company stock worth $955,284,831. 45.58% of the stock is owned by corporate insiders.

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.