Montecito Bank & Trust Lowers Stake in Walmart Inc. (NYSE:WMT)

Montecito Bank & Trust lessened its stake in Walmart Inc. (NYSE:WMT) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,122 shares of the retailer’s stock after selling 171 shares during the period. Montecito Bank & Trust’s holdings in Walmart were worth $1,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WMT. GQG Partners LLC purchased a new position in shares of Walmart in the 2nd quarter valued at $417,050,000. Bessemer Group Inc. raised its position in Walmart by 2,168.5% in the 2nd quarter. Bessemer Group Inc. now owns 919,283 shares of the retailer’s stock valued at $110,112,000 after purchasing an additional 878,759 shares during the last quarter. State Street Corp boosted its stake in Walmart by 1.2% during the 1st quarter. State Street Corp now owns 70,902,390 shares of the retailer’s stock worth $8,094,312,000 after purchasing an additional 835,420 shares during the period. Crake Asset Management LLP acquired a new stake in Walmart during the 2nd quarter worth $99,751,000. Finally, Prudential Financial Inc. grew its position in Walmart by 41.0% during the 2nd quarter. Prudential Financial Inc. now owns 2,834,064 shares of the retailer’s stock worth $339,464,000 after purchasing an additional 823,567 shares during the last quarter. 29.34% of the stock is currently owned by institutional investors.

In other Walmart news, SVP David Chojnowski sold 4,605 shares of Walmart stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $134.24, for a total value of $618,175.20. Following the completion of the sale, the senior vice president now owns 30,620 shares in the company, valued at approximately $4,110,428.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc E. Lore sold 85,000 shares of the company’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $144.55, for a total transaction of $12,286,750.00. Following the transaction, the executive vice president now directly owns 1,610,399 shares of the company’s stock, valued at approximately $232,783,175.45. The disclosure for this sale can be found here. Insiders sold a total of 1,011,690 shares of company stock valued at $138,850,587 over the last ninety days. 50.43% of the stock is owned by corporate insiders.

A number of equities analysts recently issued reports on WMT shares. Guggenheim raised their price target on Walmart from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Royal Bank of Canada lifted their target price on Walmart from $132.00 to $137.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 19th. Cowen reissued a “buy” rating and issued a $155.00 target price on shares of Walmart in a report on Wednesday, October 7th. DZ Bank raised Walmart from a “hold” rating to a “buy” rating and set a $157.50 price target for the company in a report on Friday, October 2nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $137.00 price objective on shares of Walmart in a research note on Friday, October 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-seven have assigned a buy rating to the company. Walmart has a consensus rating of “Buy” and a consensus price target of $141.46.

Walmart stock traded down $1.30 during midday trading on Friday, reaching $138.62. 169,561 shares of the company were exchanged, compared to its average volume of 9,420,514. The firm’s 50-day simple moving average is $140.33 and its 200-day simple moving average is $130.75. Walmart Inc. has a 1 year low of $102.00 and a 1 year high of $151.33. The company has a market capitalization of $396.50 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 4.86 and a beta of 0.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.29 and a current ratio of 0.79.

Walmart (NYSE:WMT) last released its quarterly earnings results on Tuesday, August 18th. The retailer reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.31. The company had revenue of $137.70 billion for the quarter, compared to analysts’ expectations of $133.77 billion. Walmart had a net margin of 3.30% and a return on equity of 19.13%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. On average, analysts forecast that Walmart Inc. will post 5.35 EPS for the current fiscal year.

About Walmart

Walmart Inc engages in the retail and wholesale operations in various formats worldwide. The company operates in three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, asda.com, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.

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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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