Parsec Financial Management Inc. Trims Stake in Walmart Inc (WMT)

Parsec Financial Management Inc. trimmed its position in Walmart Inc (NYSE:WMT) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,171 shares of the retailer’s stock after selling 4,965 shares during the quarter. Parsec Financial Management Inc.’s holdings in Walmart were worth $15,511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WMT. Trust Co. of Vermont grew its holdings in Walmart by 4.3% during the 3rd quarter. Trust Co. of Vermont now owns 12,455 shares of the retailer’s stock valued at $1,170,000 after buying an additional 515 shares in the last quarter. Crossvault Capital Management LLC grew its holdings in Walmart by 2.3% during the 3rd quarter. Crossvault Capital Management LLC now owns 24,790 shares of the retailer’s stock valued at $2,328,000 after buying an additional 550 shares in the last quarter. Fluent Financial LLC grew its holdings in Walmart by 2.6% during the 3rd quarter. Fluent Financial LLC now owns 22,463 shares of the retailer’s stock valued at $2,110,000 after buying an additional 571 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its holdings in Walmart by 4.6% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 13,329 shares of the retailer’s stock valued at $1,252,000 after buying an additional 583 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in Walmart by 0.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 152,035 shares of the retailer’s stock valued at $13,022,000 after buying an additional 588 shares in the last quarter. 29.36% of the stock is owned by institutional investors.

WMT has been the subject of a number of research analyst reports. Telsey Advisory Group increased their price objective on shares of Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, August 17th. Argus set a $112.00 price objective on shares of Walmart and gave the company a “buy” rating in a report on Friday, August 17th. Goldman Sachs Group set a $101.00 price objective on shares of Walmart and gave the company a “neutral” rating in a report on Friday, September 14th. Morgan Stanley reaffirmed a “neutral” rating and set a $98.00 price objective on shares of Walmart in a report on Thursday, October 4th. Finally, Royal Bank of Canada set a $101.00 price objective on shares of Walmart and gave the company a “neutral” rating in a report on Monday, September 3rd. Eighteen analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $103.16.

In related news, major shareholder Jim C. Walton sold 2,009,792 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $94.63, for a total value of $190,186,616.96. Following the completion of the sale, the insider now directly owns 10,557,224 shares in the company, valued at $999,030,107.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 594,396 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $98.28, for a total value of $58,417,238.88. Following the completion of the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at $663,250,442.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,199,130 shares of company stock valued at $976,228,654. 51.11% of the stock is owned by corporate insiders.

NYSE WMT opened at $101.34 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.93 and a debt-to-equity ratio of 0.70. The company has a market cap of $297.07 billion, a PE ratio of 21.07, a PEG ratio of 4.14 and a beta of 0.35. Walmart Inc has a one year low of $81.78 and a one year high of $109.98.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, August 16th. The retailer reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. The firm had revenue of $127.06 billion during the quarter, compared to the consensus estimate of $124.67 billion. Walmart had a return on equity of 18.16% and a net margin of 1.02%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. On average, sell-side analysts expect that Walmart Inc will post 4.77 EPS for the current year.

About Walmart

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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