Westchester Capital Management Inc. reduced its position in shares of Walmart Inc (NYSE:WMT) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,415 shares of the retailer’s stock after selling 1,060 shares during the period. Walmart comprises approximately 4.3% of Westchester Capital Management Inc.’s holdings, making the stock its 8th largest holding. Westchester Capital Management Inc.’s holdings in Walmart were worth $10,968,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of WMT. Vanguard Group Inc. increased its position in Walmart by 0.7% in the second quarter. Vanguard Group Inc. now owns 130,107,288 shares of the retailer’s stock worth $14,375,553,000 after buying an additional 920,813 shares during the period. Price T Rowe Associates Inc. MD increased its position in Walmart by 6.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 12,807,349 shares of the retailer’s stock worth $1,415,084,000 after buying an additional 721,297 shares during the period. Bank of New York Mellon Corp increased its position in Walmart by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 11,771,790 shares of the retailer’s stock worth $1,300,665,000 after buying an additional 373,683 shares during the period. Morgan Stanley increased its position in Walmart by 5.2% in the second quarter. Morgan Stanley now owns 11,422,339 shares of the retailer’s stock worth $1,262,053,000 after buying an additional 565,425 shares during the period. Finally, Fisher Asset Management LLC increased its position in Walmart by 2.7% in the third quarter. Fisher Asset Management LLC now owns 10,913,668 shares of the retailer’s stock worth $1,295,234,000 after buying an additional 284,748 shares during the period. 30.15% of the stock is currently owned by institutional investors and hedge funds.
WMT stock traded down $0.79 during trading hours on Friday, hitting $119.44. 3,761,572 shares of the stock traded hands, compared to its average volume of 6,160,737. The stock has a 50-day simple moving average of $118.56 and a 200 day simple moving average of $111.26. Walmart Inc has a one year low of $85.78 and a one year high of $120.92. The company has a market cap of $338.07 billion, a P/E ratio of 24.33, a P/E/G ratio of 5.11 and a beta of 0.39. The company has a current ratio of 0.76, a quick ratio of 0.21 and a debt-to-equity ratio of 0.83.
In related news, insider John R. Furner sold 7,900 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $114.72, for a total value of $906,288.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Chojnowski sold 3,680 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $115.38, for a total value of $424,598.40. The disclosure for this sale can be found here. Company insiders own 51.11% of the company’s stock.
Several equities research analysts have weighed in on the company. Royal Bank of Canada set a $112.00 target price on Walmart and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Zacks Investment Research cut Walmart from a “buy” rating to a “hold” rating and set a $121.00 price target for the company. in a research note on Tuesday, September 17th. UBS Group set a $115.00 price target on Walmart and gave the stock a “hold” rating in a research note on Friday, August 16th. Oppenheimer increased their price target on Walmart from $108.00 to $125.00 and gave the stock a “market perform” rating in a research note on Monday, November 4th. Finally, Robert W. Baird increased their price target on Walmart from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the stock. Walmart presently has an average rating of “Buy” and an average price target of $118.41.
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, shoes.com, and samsclub.com; and mobile commerce applications.
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