Walmart Inc. (NYSE:WMT) is Eastern Bank’s 8th Largest Position

Eastern Bank reduced its stake in Walmart Inc. (NYSE:WMT) by 0.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,343,940 shares of the retailer’s stock after selling 2,957 shares during the quarter. Walmart makes up approximately 2.3% of Eastern Bank’s investment portfolio, making the stock its 8th biggest position. Eastern Bank’s holdings in Walmart were worth $121,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Kozak & Associates Inc. raised its stake in shares of Walmart by 22.3% in the fourth quarter. Kozak & Associates Inc. now owns 619 shares of the retailer’s stock valued at $56,000 after acquiring an additional 113 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its stake in shares of Walmart by 0.5% in the third quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock valued at $1,915,000 after acquiring an additional 118 shares in the last quarter. Lowe Wealth Advisors LLC raised its stake in shares of Walmart by 13.5% in the fourth quarter. Lowe Wealth Advisors LLC now owns 1,018 shares of the retailer’s stock valued at $92,000 after acquiring an additional 121 shares in the last quarter. Providence Wealth Advisors LLC raised its stake in Walmart by 0.3% in the third quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer’s stock valued at $3,591,000 after buying an additional 122 shares in the last quarter. Finally, 3Chopt Investment Partners LLC raised its stake in Walmart by 0.4% in the third quarter. 3Chopt Investment Partners LLC now owns 32,633 shares of the retailer’s stock valued at $2,635,000 after buying an additional 124 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Price Performance

Shares of WMT opened at $91.39 on Tuesday. Walmart Inc. has a twelve month low of $53.44 and a twelve month high of $96.18. The stock’s 50 day moving average is $90.56 and its two-hundred day moving average is $80.80. The firm has a market capitalization of $734.17 billion, a PE ratio of 37.51, a P/E/G ratio of 4.47 and a beta of 0.55. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $169.59 billion for the quarter, compared to analyst estimates of $167.69 billion. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. Research analysts anticipate that Walmart Inc. will post 2.47 earnings per share for the current year.

Insider Transactions at Walmart

In other news, EVP John R. Furner sold 13,125 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.96, for a total transaction of $1,088,850.00. Following the sale, the executive vice president now owns 593,040 shares of the company’s stock, valued at $49,198,598.40. The trade was a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.79, for a total value of $2,411,175.96. Following the transaction, the chief executive officer now owns 3,843,929 shares of the company’s stock, valued at $318,238,881.91. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,347 shares of company stock valued at $12,311,491 in the last quarter. 45.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on WMT shares. TD Cowen raised their price target on Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised their price target on Walmart from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Melius Research started coverage on Walmart in a research note on Monday, September 23rd. They issued a “buy” rating and a $95.00 price target on the stock. Roth Mkm raised their price target on Walmart from $81.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, DZ Bank cut Walmart from a “buy” rating to a “hold” rating and set a $91.00 price target on the stock. in a research note on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Walmart presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.08.

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.