Korea Investment CORP Reduces Holdings in Walmart Inc. (NYSE:WMT)

Korea Investment CORP reduced its stake in Walmart Inc. (NYSE:WMT) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,980,500 shares of the retailer’s stock after selling 364,394 shares during the period. Walmart comprises 0.9% of Korea Investment CORP’s investment portfolio, making the stock its 15th largest position. Korea Investment CORP’s holdings in Walmart were worth $359,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of WMT. Raymond James Financial Inc. bought a new stake in Walmart in the 4th quarter worth $2,306,627,000. Jennison Associates LLC boosted its holdings in shares of Walmart by 37.1% during the fourth quarter. Jennison Associates LLC now owns 25,339,448 shares of the retailer’s stock worth $2,289,419,000 after purchasing an additional 6,860,189 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Walmart by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 32,020,800 shares of the retailer’s stock worth $2,893,079,000 after purchasing an additional 3,927,173 shares during the last quarter. Geode Capital Management LLC raised its position in Walmart by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock valued at $7,048,465,000 after purchasing an additional 2,786,061 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Walmart by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 422,736,888 shares of the retailer’s stock valued at $38,194,278,000 after purchasing an additional 2,050,683 shares during the last quarter. Institutional investors own 26.76% of the company’s stock.

Insider Transactions at Walmart

In related news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $92.96, for a total value of $1,220,100.00. Following the transaction, the executive vice president now owns 568,626 shares of the company’s stock, valued at approximately $52,859,472.96. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kathryn J. Mclay sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $85.95, for a total transaction of $343,800.00. Following the sale, the executive vice president now directly owns 888,309 shares of the company’s stock, valued at approximately $76,350,158.55. This represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,528 shares of company stock worth $14,096,140 in the last ninety days. Insiders own 45.58% of the company’s stock.

Walmart Price Performance

NYSE WMT opened at $85.13 on Thursday. Walmart Inc. has a one year low of $58.56 and a one year high of $105.30. The stock has a 50-day moving average of $94.87 and a 200 day moving average of $89.22. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The company has a market capitalization of $682.45 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 4.42 and a beta of 0.53.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $180.55 billion during the quarter, compared to analyst estimates of $178.83 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. On average, sell-side analysts forecast that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 annualized dividend and a dividend yield of 1.10%. Walmart’s payout ratio is 39.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Walmart in a report on Monday, February 24th. Truist Financial raised their target price on shares of Walmart from $98.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Telsey Advisory Group reissued an “outperform” rating on shares of Walmart in a research note on Friday, February 28th. Erste Group Bank downgraded Walmart from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, Piper Sandler raised their target price on Walmart from $93.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.17.

About Walmart

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.