Pinnacle Financial Partners Inc Sells 762 Shares of Walmart Inc. (NYSE:WMT)

Pinnacle Financial Partners Inc trimmed its holdings in Walmart Inc. (NYSE:WMT) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,126 shares of the retailer’s stock after selling 762 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Walmart were worth $12,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Peterson Financial Group Inc. acquired a new position in Walmart during the 3rd quarter worth approximately $26,000. Fiduciary Advisors Inc. bought a new stake in Walmart during the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. increased its holdings in Walmart by 77.3% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Walmart during the 4th quarter worth approximately $32,000. Finally, Hara Capital LLC bought a new stake in Walmart during the 3rd quarter worth approximately $37,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Walmart

In other Walmart news, Director Robert Edward Jr. Moritz purchased 5,446 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $91.81 per share, for a total transaction of $499,997.26. Following the purchase, the director now owns 7,805 shares of the company’s stock, valued at approximately $716,577.05. This represents a 230.86 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John D. Rainey sold 38,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $98.80, for a total value of $3,754,400.00. Following the completion of the sale, the executive vice president now owns 257,281 shares of the company’s stock, valued at $25,419,362.80. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 176,777 shares of company stock worth $16,570,112 in the last three months. Corporate insiders own 45.58% of the company’s stock.

Analysts Set New Price Targets

WMT has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and set a $115.00 price objective (up from $106.00) on shares of Walmart in a report on Thursday, February 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $115.00 price objective on shares of Walmart in a research report on Friday. Citigroup increased their price objective on Walmart from $98.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Tigress Financial raised their price target on Walmart from $86.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler raised their price target on Walmart from $93.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Walmart currently has a consensus rating of “Moderate Buy” and an average target price of $102.43.

Walmart Price Performance

Shares of WMT opened at $94.70 on Friday. The firm has a market cap of $760.77 billion, a PE ratio of 39.30, a P/E/G ratio of 4.42 and a beta of 0.55. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $95.63 and a two-hundred day simple moving average of $86.44. Walmart Inc. has a 1-year low of $57.77 and a 1-year high of $105.30.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business 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, equities analysts anticipate that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 annualized dividend and a dividend yield of 0.99%. Walmart’s dividend payout ratio (DPR) is 34.44%.

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.