Essex Investment Management Co. LLC Trims Stock Position in Walmart Inc. (NYSE:WMT)

Essex Investment Management Co. LLC lessened its holdings in Walmart Inc. (NYSE:WMT) by 18.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,629 shares of the retailer’s stock after selling 9,179 shares during the period. Essex Investment Management Co. LLC’s holdings in Walmart were worth $5,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Paragon Wealth Strategies LLC purchased a new position in shares of Walmart during the second quarter valued at approximately $31,000. Atlantic Trust LLC purchased a new position in shares of Walmart during the second quarter valued at approximately $40,000. ShoreHaven Wealth Partners LLC lifted its stake in shares of Walmart by 70.1% during the first quarter. ShoreHaven Wealth Partners LLC now owns 342 shares of the retailer’s stock valued at $46,000 after buying an additional 141 shares during the period. Freedman Financial Associates Inc. lifted its stake in shares of Walmart by 40.0% during the second quarter. Freedman Financial Associates Inc. now owns 350 shares of the retailer’s stock valued at $49,000 after buying an additional 100 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Walmart during the second quarter valued at approximately $52,000. 30.22% of the stock is currently owned by institutional investors and hedge funds.

NYSE WMT traded down $0.45 on Monday, hitting $142.72. The stock had a trading volume of 107,008 shares, compared to its average volume of 8,233,435. The company’s 50-day moving average is $145.85 and its two-hundred day moving average is $141.22. Walmart Inc. has a one year low of $126.28 and a one year high of $153.66. The stock has a market cap of $397.97 billion, a price-to-earnings ratio of 40.38, a P/E/G ratio of 4.21 and a beta of 0.47. The company has a quick ratio of 0.38, a current ratio of 0.96 and a debt-to-equity ratio of 0.50.

Walmart (NYSE:WMT) last released its earnings results on Monday, August 16th. The retailer reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.21. The firm had revenue of $141 billion for the quarter, compared to analysts’ expectations of $136.07 billion. Walmart had a net margin of 1.78% and a return on equity of 20.22%. Walmart’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.56 EPS. On average, sell-side analysts anticipate that Walmart Inc. will post 6.3 earnings per share for the current year.

In related news, CEO C Douglas Mcmillon sold 9,708 shares of the firm’s stock in a transaction that occurred on Thursday, July 22nd. The shares were sold at an average price of $141.21, for a total transaction of $1,370,866.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 6,906,863 shares of the stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $137.40, for a total value of $949,002,976.20. Following the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $927,254,892. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,118,987 shares of company stock worth $2,162,036,158. 48.44% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on WMT. Morgan Stanley reissued a “buy” rating and set a $170.00 price objective on shares of Walmart in a research note on Monday, August 30th. DA Davidson reaffirmed a “buy” rating on shares of Walmart in a research report on Wednesday, August 18th. Raymond James upped their price target on shares of Walmart from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 18th. MKM Partners upped their price target on shares of Walmart from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 18th. Finally, Wells Fargo & Company raised shares of Walmart from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $150.00 to $165.00 in a research report on Thursday, August 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart has an average rating of “Buy” and an average target price of $168.17.

Walmart Company Profile

Walmart, Inc engages in retail and wholesale business. The Company offers an assortment of merchandise and services at everyday low prices. It operates through the following business segments: Walmart U.S., Walmart International, and Sam’s Club. The Walmart U.S. segment operates as a merchandiser of consumer products, operating under the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as walmart.com and other eCommerce brands.

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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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