Patten & Patten Inc. TN Has $22.18 Million Stake in Walmart Inc. (NYSE:WMT)

Patten & Patten Inc. TN reduced its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,526 shares of the retailer's stock after selling 4,889 shares during the period. Walmart comprises 1.5% of Patten & Patten Inc. TN's portfolio, making the stock its 12th largest position. Patten & Patten Inc. TN's holdings in Walmart were worth $22,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Walmart by 3.3% in the third quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer's stock worth $7,048,465,000 after buying an additional 2,786,061 shares during the last quarter. FMR LLC increased its stake in shares of Walmart by 12.9% in the third quarter. FMR LLC now owns 63,135,639 shares of the retailer's stock worth $5,098,203,000 after buying an additional 7,200,004 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Walmart by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 48,793,045 shares of the retailer's stock worth $4,408,452,000 after buying an additional 1,133,201 shares during the last quarter. Franklin Resources Inc. increased its stake in Walmart by 3.7% during the third quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer's stock valued at $3,392,658,000 after purchasing an additional 1,480,927 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Walmart by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 32,020,800 shares of the retailer's stock valued at $2,893,079,000 after purchasing an additional 3,927,173 shares during the last quarter. Institutional investors own 26.76% of the company's stock.

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Walmart Price Performance

NYSE WMT traded up $2.43 on Monday, reaching $87.78. The company's stock had a trading volume of 17,635,562 shares, compared to its average volume of 15,840,263. Walmart Inc. has a twelve month low of $58.56 and a twelve month high of $105.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The stock has a market cap of $705.13 billion, a PE ratio of 36.46, a PEG ratio of 4.42 and a beta of 0.53. The firm's 50 day moving average is $95.74 and its two-hundred day moving average is $88.80.

Walmart (NYSE:WMT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.02. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The company had revenue of $180.55 billion during the quarter, compared to the consensus estimate of $178.83 billion. As a group, sell-side analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, December 12th. Walmart's payout ratio is 39.00%.

Wall Street Analyst Weigh In

Several analysts have weighed in on WMT shares. Wells Fargo & Company boosted their target price on shares of Walmart from $100.00 to $108.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley reiterated an "overweight" rating and set a $115.00 target price (up previously from $106.00) on shares of Walmart in a research note on Thursday, February 13th. Evercore ISI lowered their target price on shares of Walmart from $107.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. Truist Financial boosted their target price on shares of Walmart from $98.00 to $111.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Bank of America boosted their target price on shares of Walmart from $95.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $103.20.

Insider Buying and Selling at Walmart

In other Walmart news, EVP Daniel J. Bartlett sold 1,830 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.07, for a total transaction of $166,658.10. Following the sale, the executive vice president now owns 460,705 shares in the company, valued at approximately $41,956,404.35. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $92.35, for a total value of $2,689,601.40. Following the sale, the chief executive officer now owns 3,785,702 shares in the company, valued at approximately $349,609,579.70. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 185,777 shares of company stock valued at $17,657,316. 45.58% of the stock is owned by insiders.

About Walmart

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.