Chevy Chase Trust Holdings LLC Trims Stock Position in Walmart Inc. (NYSE:WMT)

Chevy Chase Trust Holdings LLC decreased its holdings in Walmart Inc. (NYSE:WMT) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,348,813 shares of the retailer’s stock after selling 3,309 shares during the quarter. Walmart comprises 0.6% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 29th largest holding. Chevy Chase Trust Holdings LLC’s holdings in Walmart were worth $189,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its position in Walmart by 12.9% in the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock valued at $5,098,203,000 after purchasing an additional 7,200,004 shares during the last quarter. Fisher Asset Management LLC raised its position in Walmart by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock valued at $3,848,533,000 after purchasing an additional 2,107,197 shares during the last quarter. Legal & General Group Plc raised its position in Walmart by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock valued at $2,456,704,000 after purchasing an additional 644,353 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Walmart by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,236,769 shares of the retailer’s stock valued at $2,522,369,000 after purchasing an additional 350,881 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Walmart by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,273,933 shares of the retailer’s stock valued at $1,879,370,000 after purchasing an additional 228,121 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Insiders Place Their Bets

In other Walmart news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the sale, the insider now directly owns 630,501,148 shares in the company, valued at $48,781,873,820.76. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,385,186 shares of company stock valued at $963,206,365 in the last ninety days. Insiders own 45.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on WMT shares. Robert W. Baird upped their price target on shares of Walmart from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. StockNews.com cut shares of Walmart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. BMO Capital Markets boosted their price objective on shares of Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Piper Sandler boosted their price objective on shares of Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Truist Financial boosted their price objective on shares of Walmart from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.88.

Walmart Stock Performance

NYSE:WMT opened at $92.50 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $83.35 and a two-hundred day moving average price of $75.04. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $92.64. The company has a market capitalization of $743.54 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 4.39 and a beta of 0.54.

Walmart (NYSE:WMT) last posted its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The firm had revenue of $169.59 billion during the quarter, compared to the consensus estimate of $167.69 billion. During the same period last year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts expect that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.

Walmart Profile

Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce 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, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.