Penobscot Investment Management Company Inc. Has $2.22 Million Stock Position in Walmart Inc. (NYSE:WMT)

Penobscot Investment Management Company Inc. increased its position in Walmart Inc. (NYSE:WMT) by 25.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,110 shares of the retailer’s stock after purchasing an additional 2,850 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Walmart were worth $2,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA boosted its holdings in Walmart by 917.9% during the third quarter. Compagnie Lombard Odier SCmA now owns 16,002 shares of the retailer’s stock worth $2,559,000 after buying an additional 14,430 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in Walmart by 8.5% during the third quarter. Sheets Smith Wealth Management now owns 5,172 shares of the retailer’s stock worth $827,000 after buying an additional 403 shares during the last quarter. RMR Wealth Builders boosted its holdings in Walmart by 188.3% during the third quarter. RMR Wealth Builders now owns 4,751 shares of the retailer’s stock worth $760,000 after buying an additional 3,103 shares during the last quarter. Toews Corp ADV bought a new position in Walmart during the third quarter worth about $768,000. Finally, Accurate Wealth Management LLC boosted its holdings in Walmart by 12.5% during the third quarter. Accurate Wealth Management LLC now owns 10,404 shares of the retailer’s stock worth $1,679,000 after buying an additional 1,159 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Evercore ISI cut their price objective on Walmart from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Oppenheimer cut their price objective on Walmart to $67.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Stifel Europe lifted their price objective on Walmart from $56.33 to $58.33 in a report on Friday, February 16th. Tigress Financial lifted their price objective on Walmart from $65.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Walmart from $54.33 to $58.67 and gave the company a “neutral” rating in a report on Monday, February 19th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.75.

Walmart Stock Performance

WMT traded down $0.94 during trading on Tuesday, hitting $59.30. The stock had a trading volume of 5,647,053 shares, compared to its average volume of 18,597,359. The company has a 50 day moving average price of $59.98 and a 200-day moving average price of $55.86. The firm has a market cap of $477.95 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 3.93 and a beta of 0.49. Walmart Inc. has a one year low of $48.34 and a one year high of $61.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.83 and a quick ratio of 0.24.

Walmart (NYSE:WMT) last released its quarterly earnings results on Tuesday, February 20th. The retailer reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $173.40 billion during the quarter, compared to the consensus estimate of $170.85 billion. Walmart had a return on equity of 21.08% and a net margin of 2.39%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. As a group, research analysts predict that Walmart Inc. will post 2.36 EPS for the current year.

Walmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be paid a $0.2075 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.83 annualized dividend and a yield of 1.40%. Walmart’s dividend payout ratio (DPR) is presently 43.38%.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $60.03, for a total transaction of $1,748,313.72. Following the completion of the sale, the chief executive officer now directly owns 4,018,650 shares in the company, valued at approximately $241,239,559.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director S Robson Walton sold 14,685,327 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $58.61, for a total transaction of $860,755,966.56. Following the completion of the sale, the director now directly owns 656,397,261 shares in the company, valued at approximately $38,473,631,458.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $60.03, for a total value of $1,748,313.72. Following the sale, the chief executive officer now owns 4,018,650 shares of the company’s stock, valued at $241,239,559.50. The disclosure for this sale can be found here. In the last three months, insiders sold 29,019,140 shares of company stock worth $1,696,035,551. 46.51% of the stock is currently owned by company 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.