Hodges Capital Management Inc. trimmed its holdings in shares of Walmart Inc (NYSE:WMT) by 5.4% in the third quarter, HoldingsChannel reports. The firm owned 60,857 shares of the retailer’s stock after selling 3,484 shares during the period. Hodges Capital Management Inc.’s holdings in Walmart were worth $5,715,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of WMT. Neville Rodie & Shaw Inc. purchased a new stake in Walmart in the 2nd quarter worth approximately $799,000. New England Research & Management Inc. grew its stake in Walmart by 14.1% in the 2nd quarter. New England Research & Management Inc. now owns 17,387 shares of the retailer’s stock worth $1,489,000 after acquiring an additional 2,150 shares during the period. CenturyLink Investment Management Co purchased a new stake in Walmart in the 2nd quarter worth approximately $2,379,000. American National Bank purchased a new stake in Walmart in the 2nd quarter worth approximately $4,694,000. Finally, First Financial Bank Trust Division grew its stake in Walmart by 7.3% in the 2nd quarter. First Financial Bank Trust Division now owns 14,642 shares of the retailer’s stock worth $1,254,000 after acquiring an additional 992 shares during the period. 29.36% of the stock is owned by institutional investors and hedge funds.
NYSE:WMT opened at $100.28 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market cap of $303.41 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 4.23 and a beta of 0.52. Walmart Inc has a twelve month low of $81.78 and a twelve month high of $109.98.
Several research firms have commented on WMT. Cowen lifted their target price on shares of Walmart from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday. Credit Suisse Group set a $85.00 target price on shares of Walmart and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of Walmart in a research note on Thursday, August 16th. Wells Fargo & Co reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Walmart in a research note on Thursday, August 16th. Finally, ValuEngine raised shares of Walmart from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Eighteen research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $103.16.
In related news, major shareholder Alice L. Walton sold 594,396 shares of Walmart stock in a transaction on Friday, August 17th. The shares were sold at an average price of $98.28, for a total transaction of $58,417,238.88. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at approximately $663,250,442.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 1,575 shares of Walmart stock in a transaction on Friday, August 31st. The shares were sold at an average price of $95.48, for a total transaction of $150,381.00. Following the transaction, the insider now owns 57,276 shares in the company, valued at approximately $5,468,712.48. The disclosure for this sale can be found here. Insiders have sold a total of 10,199,130 shares of company stock worth $976,228,654 in the last 90 days. Company insiders own 51.11% of the company’s stock.
Walmart Company Profile
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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