Spinnaker Investment Group LLC Has $739,000 Holdings in Walmart Inc. (NYSE:WMT)

Spinnaker Investment Group LLC lowered its position in shares of Walmart Inc. (NYSE:WMT) by 11.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,911 shares of the retailer’s stock after selling 1,389 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Walmart were worth $739,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Diversified LLC increased its stake in Walmart by 4.6% in the 2nd quarter. Diversified LLC now owns 11,254 shares of the retailer’s stock valued at $762,000 after buying an additional 500 shares during the period. Slagle Financial LLC increased its stake in Walmart by 129.1% in the 2nd quarter. Slagle Financial LLC now owns 17,204 shares of the retailer’s stock valued at $1,165,000 after buying an additional 9,695 shares during the period. Powers Advisory Group LLC increased its stake in Walmart by 3.3% in the 2nd quarter. Powers Advisory Group LLC now owns 34,540 shares of the retailer’s stock valued at $2,339,000 after buying an additional 1,089 shares during the period. L. Roy Papp & Associates LLP increased its stake in Walmart by 6.7% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 17,805 shares of the retailer’s stock valued at $1,206,000 after buying an additional 1,116 shares during the period. Finally, Cornerstone Wealth Group LLC increased its stake in Walmart by 0.4% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 100,763 shares of the retailer’s stock valued at $6,823,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insider Activity

In other news, Director S Robson Walton sold 1,562,239 shares of Walmart stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $65.00, for a total transaction of $101,545,535.00. Following the sale, the director now directly owns 642,949,611 shares in the company, valued at approximately $41,791,724,715. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Daniel J. Bartlett sold 2,398 shares of Walmart stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $69.50, for a total transaction of $166,661.00. Following the completion of the transaction, the executive vice president now directly owns 463,871 shares of the company’s stock, valued at approximately $32,239,034.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Robson Walton sold 1,562,239 shares of Walmart stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $65.00, for a total transaction of $101,545,535.00. Following the transaction, the director now directly owns 642,949,611 shares of the company’s stock, valued at $41,791,724,715. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,827,328 shares of company stock worth $584,261,549. Corporate insiders own 45.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WMT. HSBC upped their price objective on shares of Walmart from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. StockNews.com upgraded shares of Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Oppenheimer raised their price target on shares of Walmart from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Morgan Stanley raised their price target on shares of Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Raymond James raised their price target on shares of Walmart from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

Walmart Stock Performance

NYSE WMT traded up $0.11 during midday trading on Friday, hitting $75.69. The company had a trading volume of 12,284,732 shares, compared to its average volume of 17,546,652. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The stock has a market cap of $608.82 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 4.04 and a beta of 0.50. The firm has a fifty day simple moving average of $69.68 and a two-hundred day simple moving average of $63.98. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $76.22.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same period last year, the business posted $0.61 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Walmart Inc. will post 2.43 earnings per share for the current fiscal year.

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.