SouthState Corp Reduces Holdings in Walmart Inc. (NYSE:WMT)

SouthState Corp cut its stake in shares of Walmart Inc. (NYSE:WMT) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,503 shares of the retailer’s stock after selling 1,938 shares during the quarter. Walmart accounts for about 1.5% of SouthState Corp’s investment portfolio, making the stock its 13th largest holding. SouthState Corp’s holdings in Walmart were worth $23,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WMT. Gray Wealth Management Inc. lifted its holdings in Walmart by 10.5% in the 4th quarter. Gray Wealth Management Inc. now owns 35,682 shares of the retailer’s stock worth $3,224,000 after buying an additional 3,382 shares during the period. IMG Wealth Management Inc. purchased a new stake in Walmart in the 4th quarter worth approximately $137,000. First National Advisers LLC lifted its holdings in Walmart by 2.7% in the 4th quarter. First National Advisers LLC now owns 72,790 shares of the retailer’s stock worth $6,577,000 after buying an additional 1,944 shares during the period. GWN Securities Inc. purchased a new stake in Walmart in the 4th quarter worth approximately $4,658,000. Finally, Glenview Trust co lifted its holdings in Walmart by 1.0% in the 4th quarter. Glenview Trust co now owns 844,600 shares of the retailer’s stock worth $76,310,000 after buying an additional 8,687 shares during the period. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Walmart from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI reduced their price objective on Walmart from $107.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. raised their price objective on Walmart from $97.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Oppenheimer raised their price objective on Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, StockNews.com lowered Walmart from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Walmart currently has a consensus rating of “Buy” and a consensus target price of $103.20.

Walmart Stock Up 0.9 %

Walmart stock opened at $85.29 on Monday. The business has a fifty day moving average of $95.74 and a two-hundred day moving average of $88.80. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. The firm has a market cap of $685.19 billion, a P/E ratio of 35.39, a P/E/G ratio of 4.42 and a beta of 0.53. Walmart Inc. has a twelve month low of $58.56 and a twelve month high of $105.30.

Walmart (NYSE:WMT) last released its earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Walmart had a return on equity of 21.87% and a net margin of 2.85%. The firm had revenue of $180.55 billion for the quarter, compared to the consensus estimate of $178.83 billion. On average, analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

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

Insider Transactions at Walmart

In other Walmart news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $96.15, for a total value of $1,261,968.75. Following the transaction, the executive vice president now directly owns 460,672 shares of the company’s stock, valued at $44,293,612.80. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $92.35, for a total transaction of $2,689,601.40. Following the sale, the chief executive officer now owns 3,785,702 shares of the company’s stock, valued at $349,609,579.70. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,777 shares of company stock valued at $17,657,316 in the last ninety days. 45.58% of the stock is currently owned by corporate insiders.

Walmart Company Profile

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.