Headinvest LLC Reduces Stake in Walmart Shares

In a recent filing with the Securities and Exchange Commission, Headinvest LLC reported a decrease in its holdings of Walmart Inc. (NYSE:WMT) by 5.3% during the third quarter of this year. Following the sale of 6,343 shares, the firm now owns a total of 114,347 shares of the retail giant. As a key part of its portfolio, Walmart now represents approximately 1.7% of Headinvest LLC's total investments, making it the 15th largest holding within their asset management. The total value of their Walmart shares amounted to around $9,233,000 at the conclusion of this reporting period.

Other Investors in Walmart

Recently, several other hedge funds have also been active regarding Walmart shares. For instance, Peterson Financial Group Inc. entered the scene in the third quarter, purchasing a new stake worth $26,000. In the second quarter, TruNorth Capital Management LLC boosted its position in Walmart by 138.3%, now owning 429 shares worth $29,000 after adding 249 shares. Additionally, Cultivar Capital Inc. acquired a new stake, while Voisard Asset Management Group Inc. increased its position by 77.3%, now possessing 399 shares, valued at approximately $32,000. Lastly, Hoese & Co LLP bought a new stake in Walmart worth about $33,000. Combined, these hedge funds and institutional investors hold approximately 26.76% of Walmart's shares.

Analyst Opinions on Walmart

Walmart's stock has been the focus of various analysts recently. Melius Research started coverage on Walmart with a 'buy' rating and a price target of $95.00. Sanford C. Bernstein raised their price forecast for Walmart shares from $98.00 to $102.00 while maintaining an 'outperform' rating. Oppenheimer also revised their price target upward from $81.00 to $90.00, echoing a positive sentiment with an 'outperform' rating. In addition, DA Davidson raised its target from $75.00 to $85.00 with a 'buy' rating, and Truist Financial increased their price target to $98.00. Overall, analyst sentiment leans towards a 'Moderate Buy,' with an average target price of $92.11 for Walmart's stock based on findings from MarketBeat.

Insider Transactions at Walmart

In recent insider trading news, Walmart’s CEO, C Douglas McMillon, sold 29,124 shares on September 26, with an average price of $80.64, which amounted to over $2.3 million. Post-sale, McMillon holds around 3,873,053 shares valued near $312 million, marking a 0.75% reduction in his holdings. Furthermore, EVP John D. Rainey sold 3,000 shares on December 2, realizing around $277,410. Insiders have sold a staggering 7,300,460 shares over the past ninety days, totaling approximately $570 million, with insiders owning about 45.58% of Walmart's stock.

Walmart’s Recent Stock Performance

As of Friday, Walmart shares opened at $95.70. The company maintains a current ratio of 0.85 and debt-to-equity ratio of 0.56, boasting a market cap of $769.26 billion. Walmart’s stock has fluctuated between a 1-year low of $49.85 and a high of $96.18. Following the latest quarterly earnings report released on November 19, Walmart reported earnings per share of $0.58, surpassing estimates of $0.53. Revenue for the quarter reached $169.59 billion, exceeding expectations of $167.69 billion, reflecting a 5.5% increase year-over-year.

About Walmart Inc.

Walmart Inc. operates a vast network of retail and eCommerce businesses globally. The firm has three main segments: Walmart U.S., Walmart International, and Sam's Club. They provide various shopping formats, including supercenters, supermarkets, hypermarkets, warehouse clubs, and discount stores, alongside eCommerce platforms like walmart.com and others.

Walmart, Investment, Stock