Arcadia Investment Management Corp has reduced its stake in Walmart Inc. (NYSE: WMT) by 2.8%, selling 1,255 shares during the second quarter of 2023. Following this transaction, Arcadia’s holdings in the retail giant now total 43,305 shares, valued at approximately $4.23 million. This move comes as several other institutional investors have also adjusted their positions in Walmart, reflecting a dynamic investment landscape.
Brighton Jones LLC notably increased its stake in Walmart by 28.8% during the fourth quarter of 2023, 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 holdings by 5.8%, bringing its total to 8,849 shares, worth $800,000. In a more significant adjustment, Massachusetts Financial Services Co. boosted its stake by an impressive 134.5%, accumulating 363,831 shares valued at around $31.94 million after acquiring over 1.4 million shares in the recent quarter.
The trend continues with Alexander Labrunerie & Co. Inc. increasing its Walmart stake by 8.0%, and Creekmur Asset Management LLC enhancing its holdings by 2.4%. Overall, institutional investors currently own 26.76% of Walmart’s stock, highlighting a robust interest in the retailer among large investment firms.
Walmart’s Current Market Position
On October 16, 2023, Walmart’s stock opened at $102.43, experiencing a slight decline of 0.1%. The company has a market capitalization of approximately $816.68 billion and a price-to-earnings (P/E) ratio of 38.51. Despite facing challenges, Walmart has demonstrated resilience, with a 4.8% increase in revenue year-over-year, reporting $169.34 billion for the most recent quarter, albeit below the anticipated $174.02 billion.
Walmart’s earnings per share (EPS) for the quarter was reported at $0.68, missing analysts’ expectations of $0.74 by $0.06. The company also provided guidance for the third quarter of fiscal year 2026, projecting EPS between $0.580 and $0.600 and full-year guidance between $2.520 and $2.620.
Insider Transactions and Analyst Ratings
In recent insider trading activity, Chief Technology Officer Suresh Kumar sold 30,000 shares of Walmart at an average price of $103.47, totaling approximately $3.10 million. Following this transaction, Kumar retains 1.79 million shares valued at about $184.92 million. Additionally, Executive Vice President John R. Furner sold 13,125 shares at an average price of $107.78, resulting in a transaction worth $1.41 million.
Over the past ninety days, insiders have sold a total of 149,383 shares valued at approximately $15.37 million. Currently, company insiders hold a mere 0.10% of Walmart’s stock, indicating minimal insider ownership.
Analysts have provided varied ratings on Walmart’s shares. Notably, Tigress Financial raised its price target from $120.00 to $125.00, while Sanford C. Bernstein set a target of $117.00 with an “outperform” rating. Wolfe Research also initiated coverage with an “outperform” rating and a price target of $129.00. Overall, the consensus rating for Walmart stands at “Moderate Buy,” with an average price target of $113.50, based on data from MarketBeat.com.
As Walmart continues to navigate the evolving retail landscape, these adjustments by institutional investors and insights from analysts will likely play a pivotal role in shaping the company’s strategies moving forward.