Northstar Asset Management Co has reduced its stake in Walmart Inc. (NYSE: WMT) by 1.9% during the second quarter of 2023, as disclosed in a recent 13F filing with the Securities and Exchange Commission. The institutional investor now holds 44,929 shares of Walmart after selling 880 shares during this period. This adjustment makes Walmart approximately 1.0% of Northstar’s total holdings, ranking it as the firm’s 22nd largest investment, valued at around $4,393,000.
Several other investment firms have also recently adjusted their positions in Walmart. Brighton Jones LLC increased its stake by 28.8% in the fourth quarter, now owning 98,150 shares worth $8,868,000. Similarly, Revolve Wealth Partners LLC raised its stake by 5.8% to hold 8,849 shares valued at $800,000. Other notable changes include Mainstream Capital Management LLC, which increased its stake by 13.6%, and GAMMA Investing LLC, which grew its position by 13.9%.
Institutional investors collectively own approximately 26.76% of Walmart’s stock, reflecting significant confidence in the retailer’s ongoing performance.
Insider Transactions at Walmart
Recent insider trading activity at Walmart reveals that Executive Vice President John R. Furner sold 13,125 shares on August 21, 2023, at an average price of $98.55, totaling about $1,293,468.75. Following this transaction, Furner holds 919,189 shares, valued at approximately $90,586,075.95, marking a 1.41% decrease in his position.
On September 25, 2023, CEO C. Douglas McMillon sold 19,416 shares at an average price of $103.21, amounting to $2,003,925.36. After this sale, McMillon retains 4,373,576 shares, valued at around $451,396,778.96, reflecting a 0.44% decrease in his holdings. Over the last quarter, insiders sold a total of 151,038 shares worth over $15.5 million, indicating a cautious approach among executives.
Walmart’s Stock Performance and Future Outlook
As of the latest trading session, Walmart’s shares opened at $106.22. The stock has experienced a twelve-month low of $79.81 and a high of $109.57. Walmart’s market capitalization stands at approximately $846.91 billion, with a price-to-earnings (P/E) ratio of 39.93 and a beta of 0.67.
The company recently reported its quarterly earnings on August 21, 2023, announcing earnings per share of $0.68, falling short of analysts’ expectations of $0.74. The retailer generated revenue of $169.34 billion for the quarter, which was below the anticipated $174.02 billion, although this figure represents a year-over-year increase of 4.8%.
Looking ahead, Walmart has provided guidance for Q3 2026, anticipating earnings per share in the range of $0.580 to $0.600. For the full fiscal year 2026, the guidance is set between $2.520 and $2.620. Analysts forecast that Walmart will achieve earnings per share of $2.55 for the current year.
Walmart operates globally in retail, wholesale, and eCommerce across various formats, including supercenters, supermarkets, and membership-only warehouse clubs. The company remains a key player in the retail sector, adapting to changing market conditions and consumer preferences.
