Franklin Resources Inc. lessened its stake in Walmart Inc (NYSE:WMT) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,886,518 shares of the retailer’s stock after selling 10,056 shares during the quarter. Franklin Resources Inc. owned about 0.13% of Walmart worth $364,984,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of WMT. CSat Investment Advisory L.P. acquired a new position in Walmart during the second quarter worth about $111,000. Amussen Hunsaker Associates LLC acquired a new position in Walmart during the second quarter worth about $152,000. ELM Advisors LLC acquired a new position in Walmart during the third quarter worth about $152,000. Berman Capital Advisors LLC acquired a new position in Walmart during the third quarter worth about $158,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Walmart during the third quarter worth about $162,000. 29.18% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Alice L. Walton sold 1,030,640 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $96.65, for a total value of $99,611,356.00. Following the sale, the insider now directly owns 6,748,580 shares in the company, valued at $652,250,257. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Furner sold 9,623 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $94.04, for a total value of $904,946.92. Following the completion of the sale, the insider now owns 165,402 shares in the company, valued at $15,554,404.08. The disclosure for this sale can be found here. Insiders sold 12,891,107 shares of company stock worth $1,236,447,886 over the last quarter. 51.11% of the stock is currently owned by company insiders.
Several research analysts have commented on WMT shares. Goldman Sachs Group reissued a “neutral” rating and set a $100.00 target price on shares of Walmart in a research note on Wednesday, October 17th. JPMorgan Chase & Co. boosted their target price on Walmart to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 8th. Credit Suisse Group set a $103.00 price objective on Walmart and gave the company a “hold” rating in a research note on Thursday, November 15th. MKM Partners lowered their price objective on Walmart from $107.00 to $105.00 in a research note on Monday, October 22nd. Finally, UBS Group upped their price objective on Walmart from $93.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $104.04.
Shares of WMT stock opened at $93.19 on Friday. Walmart Inc has a one year low of $81.78 and a one year high of $109.98. The company has a market capitalization of $283.83 billion, a P/E ratio of 21.08, a P/E/G ratio of 3.91 and a beta of 0.32. The company has a current ratio of 0.81, a quick ratio of 0.22 and a debt-to-equity ratio of 0.63.
Walmart (NYSE:WMT) last announced its earnings results on Thursday, November 15th. The retailer reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Walmart had a return on equity of 18.36% and a net margin of 1.01%. The business had revenue of $124.89 billion for the quarter, compared to analysts’ expectations of $124.86 billion. As a group, sell-side analysts anticipate that Walmart Inc will post 4.81 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/12/08/franklin-resources-inc-has-364-98-million-position-in-walmart-inc-wmt.html.
Walmart Company Profile
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
Receive News & Ratings for Walmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walmart and related companies with MarketBeat.com's FREE daily email newsletter.