Walmart Inc (WMT) Stake Decreased by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System lessened its stake in shares of Walmart Inc (NYSE:WMT) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,000 shares of the retailer’s stock after selling 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Walmart were worth $7,888,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Gruss & Co. Inc. purchased a new stake in Walmart in the 1st quarter valued at $1,335,000. JT Stratford LLC raised its position in Walmart by 30.6% in the 1st quarter. JT Stratford LLC now owns 9,246 shares of the retailer’s stock valued at $823,000 after purchasing an additional 2,168 shares during the last quarter. Meru Capital Group LP purchased a new stake in Walmart in the 1st quarter valued at $3,185,000. Birch Hill Investment Advisors LLC purchased a new stake in Walmart in the 1st quarter valued at $664,000. Finally, InterOcean Capital LLC raised its position in Walmart by 9.2% in the 1st quarter. InterOcean Capital LLC now owns 252,083 shares of the retailer’s stock valued at $22,428,000 after purchasing an additional 21,230 shares during the last quarter. Institutional investors and hedge funds own 29.32% of the company’s stock.
In other news, Director S Robson Walton sold 1,276,062 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $95.19, for a total transaction of $121,468,341.78. Following the transaction, the director now directly owns 4,147,254 shares of the company’s stock, valued at approximately $394,777,108.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jim C. Walton sold 2,009,792 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $94.63, for a total transaction of $190,186,616.96. Following the transaction, the insider now directly owns 10,557,224 shares in the company, valued at $999,030,107.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,199,130 shares of company stock worth $976,228,654. Corporate insiders own 51.11% of the company’s stock.
Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 16th. The retailer reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.07. Walmart had a net margin of 1.02% and a return on equity of 18.16%. The business had revenue of $127.06 billion for the quarter, compared to analysts’ expectations of $124.67 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Walmart Inc will post 4.81 earnings per share for the current fiscal year.
Several analysts recently commented on the stock. Credit Suisse Group set a $103.00 price target on shares of Walmart and gave the company a “neutral” rating in a research report on Wednesday. Goldman Sachs Group set a $100.00 price target on shares of Walmart and gave the company a “neutral” rating in a research report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $110.00 price target on shares of Walmart in a research report on Tuesday. Morgan Stanley upped their price target on shares of Walmart from $98.00 to $102.00 and gave the company an “equal weight” rating in a research report on Thursday, October 11th. Finally, Deutsche Bank upgraded shares of Walmart from a “hold” rating to a “buy” rating and upped their price target for the company from $89.00 to $113.00 in a research report on Tuesday, October 9th. Eighteen equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $102.89.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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