NORTHSTAR Asset Management Co has decreased its holdings in Walmart Inc. (NYSE: WMT) by 1.9% during the second quarter of 2023. The institutional investor’s recent 13F filing with the Securities and Exchange Commission revealed that it now owns 44,929 shares after selling 880 shares in this period. Walmart constitutes approximately 1.0% of NORTHSTAR’s total portfolio, ranking as its 22nd largest holding. As of the end of June, the value of NORTHSTAR’s Walmart shares stood at about $4.39 million.
Several other institutional investors have also adjusted their positions in Walmart recently. Notably, Brighton Jones LLC increased its stake by 28.8% in the fourth quarter, acquiring an additional 21,939 shares to reach a total of 98,150 shares, valued at $8.87 million. Similarly, Revolve Wealth Partners LLC raised its stake by 5.8%, now holding 8,849 shares worth $800,000 after adding 485 shares.
Mainstream Capital Management LLC and GAMMA Investing LLC also reported increases in their respective stakes. Mainstream grew its position by 13.6%, now owning 12,345 shares valued at $1.08 million. GAMMA’s position increased by 13.9%, totaling 90,440 shares worth $7.94 million. Creative Financial Designs Inc. ADV saw a 10.6% increase, holding 7,582 shares valued at $666,000. Collectively, hedge funds and other institutional investors own approximately 26.76% of Walmart’s stock.
In related news, Walmart executives have also been active in trading their shares. On August 21, John R. Furner, Executive Vice President, sold 13,125 shares at an average price of $98.55, totaling $1.29 million. Following this transaction, Furner retains 919,189 shares valued at about $90.59 million, reflecting a 1.41% decrease in his holdings.
Similarly, C. Douglas McMillon, the Chief Executive Officer, sold 19,416 shares on September 25 at an average price of $103.21, amounting to $2.00 million. After this sale, McMillon holds 4,373,576 shares, valued at approximately $451.40 million, which is a 0.44% reduction in his position. In total, insiders sold 151,038 shares worth $15.53 million in the last quarter, while insiders collectively own 0.10% of the company’s stock.
Walmart’s Stock Performance and Financial Outlook
As of the latest trading session, Walmart’s stock (NYSE: WMT) opened at $106.22. Over the past year, the company has seen a low of $79.81 and a high of $109.57. Walmart’s financial metrics reveal a debt-to-equity ratio of 0.43, a quick ratio of 0.23, and a current ratio of 0.79. The company boasts a market capitalization of approximately $846.91 billion and a PE ratio of 39.93.
In its most recent earnings report, released on August 21, Walmart reported earnings of $0.68 per share for the quarter, which was below the consensus estimate of $0.74. The retailer recorded revenues of $169.34 billion, falling short of analyst predictions of $174.02 billion. Nevertheless, this represents a year-over-year revenue increase of 4.8%.
Looking ahead, Walmart has provided guidance for the third quarter of fiscal year 2026, projecting earnings per share between $0.580 and $0.600. For the full fiscal year 2026, the company anticipates earnings between $2.520 and $2.620. Analysts expect Walmart to achieve an earnings per share of $2.55 for the current year.
With its broad range of operations in retail, wholesale, and eCommerce, Walmart operates through three primary segments: Walmart U.S., Walmart International, and Sam’s Club. The company continues to adapt its strategies in response to market dynamics, maintaining a significant presence in multiple markets globally.
