Sterneck Capital Management LLC Cuts Holdings in Walmart Inc. (NYSE:WMT)
Sterneck Capital Management LLC trimmed its holdings in shares of Walmart Inc. (NYSE:WMT) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,430 shares of the retailer’s stock after selling 346 shares during the period. Sterneck Capital Management LLC’s holdings in Walmart were worth $760,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of WMT. GQG Partners LLC purchased a new position in shares of Walmart during the 2nd quarter worth approximately $417,050,000. Advisor Group Holdings Inc. purchased a new position in shares of Walmart during the 1st quarter worth approximately $66,166,000. Bessemer Group Inc. grew its holdings in shares of Walmart by 2,168.5% in the 2nd quarter. Bessemer Group Inc. now owns 919,283 shares of the retailer’s stock worth $110,112,000 after acquiring an additional 878,759 shares during the period. State Street Corp grew its holdings in shares of Walmart by 1.2% in the 1st quarter. State Street Corp now owns 70,902,390 shares of the retailer’s stock worth $8,094,312,000 after acquiring an additional 835,420 shares during the period. Finally, Crake Asset Management LLP acquired a new stake in shares of Walmart in the 2nd quarter worth approximately $99,751,000. 29.34% of the stock is owned by institutional investors and hedge funds.
NYSE:WMT opened at $144.71 on Friday. The company has a market capitalization of $410.07 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 4.60 and a beta of 0.28. Walmart Inc. has a one year low of $102.00 and a one year high of $151.33. The stock has a 50-day simple moving average of $139.94 and a 200 day simple moving average of $129.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.29 and a current ratio of 0.79.
In other Walmart news, EVP Marc E. Lore sold 85,000 shares of Walmart stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $129.22, for a total value of $10,983,700.00. Following the completion of the transaction, the executive vice president now directly owns 1,858,073 shares in the company, valued at $240,100,193.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alice L. Walton sold 752,085 shares of Walmart stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $137.20, for a total value of $103,186,062.00. Following the completion of the transaction, the insider now owns 11,323,580 shares of the company’s stock, valued at $1,553,595,176. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,011,690 shares of company stock valued at $138,850,587. 50.43% of the stock is currently owned by insiders.
A number of equities research analysts recently weighed in on WMT shares. DZ Bank upgraded Walmart from a “hold” rating to a “buy” rating and set a $157.50 price target on the stock in a report on Friday, October 2nd. Raymond James upped their price target on Walmart from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Credit Suisse Group restated a “buy” rating and issued a $135.00 price target on shares of Walmart in a report on Monday, September 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $137.00 price target on shares of Walmart in a report on Friday, October 2nd. Finally, Zacks Investment Research upgraded Walmart from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, September 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have issued a buy rating to the company. Walmart has an average rating of “Buy” and a consensus price target of $141.46.
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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