Hodges Capital Management Inc. Sells 3,484 Shares of Walmart Inc (WMT)

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.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, August 16th. The retailer reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.07. The business had revenue of $127.06 billion for the quarter, compared to analyst estimates of $124.67 billion. Walmart had a net margin of 1.02% and a return on equity of 18.16%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 EPS. Sell-side analysts forecast that Walmart Inc will post 4.77 EPS for the current year.

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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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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