Northstar Asset Management Co has decreased its holdings in Walmart Inc. (NYSE: WMT) by 1.9% during the second quarter of 2023, as detailed in the firm’s latest 13F filing with the Securities and Exchange Commission. The institutional investor now holds 44,929 shares of the retail giant after selling 880 shares during this period. Walmart accounts for approximately 1.0% of Northstar’s overall portfolio, making it the firm’s 22nd largest holding. As of the end of June, the value of Northstar’s Walmart shares was around $4.39 million.
Other institutional investors have also adjusted their positions in Walmart. Brighton Jones LLC increased its stake by 28.8% in the fourth quarter of 2022, now owning 98,150 shares valued at $8.87 million after acquiring an additional 21,939 shares. Similarly, Revolve Wealth Partners LLC raised its stake by 5.8%, now holding 8,849 shares worth $800,000.
In the first quarter, Mainstream Capital Management LLC grew its holdings by 13.6%, owning 12,345 shares valued at $1.08 million. GAMMA Investing LLC also increased its position by 13.9%, owning 90,440 shares worth $7.94 million after buying an additional 11,018 shares. Finally, Creative Financial Designs Inc. ADV raised its stake by 10.6%, bringing its total to 7,582 shares valued at $666,000. Overall, hedge funds and institutional investors hold 26.76% of Walmart’s stock.
Recent Insider Transactions
In related developments, Walmart executives have also engaged in significant stock transactions. On August 21, 2023, John R. Furner, Executive Vice President, sold 13,125 shares at an average price of $98.55, amounting to approximately $1.29 million. Following this transaction, Furner’s total shares in Walmart decreased to 919,189, valued at around $90.59 million.
Additionally, C. Douglas McMillon, Chief Executive Officer, sold 19,416 shares on September 25, 2023, at an average price of $103.21, totaling about $2.00 million. After this sale, McMillon retains 4,373,576 shares, valued at approximately $451.40 million. In total, insiders sold 151,038 shares worth around $15.53 million last quarter.
Market Performance and Analyst Insights
Walmart’s stock opened at $106.22 on the New York Stock Exchange. The retailer has experienced fluctuations in its stock price, with a twelve-month low of $79.81 and a high of $109.57. The company’s market capitalization stands at $846.91 billion, with a price-to-earnings ratio of 39.93 and a beta of 0.67.
Walmart recently reported its quarterly earnings on August 21, 2023, with earnings per share (EPS) of $0.68, falling short of analysts’ expectations of $0.74 by $0.06. The company generated $169.34 billion in revenue for the quarter, below the estimated $174.02 billion. Year-over-year, revenue increased by 4.8%.
Looking ahead, Walmart has provided guidance for the third quarter of fiscal 2026, projecting EPS in the range of 0.580-0.600. For the full fiscal year, the guidance is set between 2.520-2.620 EPS. Analysts predict an EPS of 2.55 for the current year.
Walmart Inc. operates a diverse range of retail formats globally, including supercenters, supermarkets, and eCommerce platforms. The company is structured into three primary segments: Walmart U.S., Walmart International, and Sam’s Club. The retailer continues to adapt to changing market conditions while maintaining a strong presence in the global retail landscape.
