Synovus Financial Corp Sells 69,968 Shares of Walmart Inc. (NYSE:WMT)

Synovus Financial Corp trimmed its stake in shares of Walmart Inc. (NYSE:WMT - Free Report) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,577 shares of the retailer's stock after selling 69,968 shares during the period. Synovus Financial Corp's holdings in Walmart were worth $23,184,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of Walmart in the 4th quarter valued at $25,000. Horizon Financial Services LLC increased its holdings in shares of Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock worth $26,000 after acquiring an additional 262 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Walmart during the 4th quarter valued at about $27,000. Decker Retirement Planning Inc. bought a new stake in Walmart during the 4th quarter worth approximately $32,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Walmart in the fourth quarter valued at approximately $37,000. 26.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $92.62, for a total value of $2,697,464.88. Following the sale, the chief executive officer now owns 3,766,491 shares of the company's stock, valued at $348,852,396.42. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $88.66, for a total transaction of $195,052.00. Following the completion of the transaction, the executive vice president now directly owns 398,024 shares of the company's stock, valued at approximately $35,288,807.84. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,852 shares of company stock worth $16,785,080. 45.58% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

WMT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Walmart from $97.00 to $112.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Morgan Stanley reaffirmed an "overweight" rating and set a $115.00 price objective (up previously from $106.00) on shares of Walmart in a research report on Thursday, February 13th. StockNews.com downgraded shares of Walmart from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Robert W. Baird upped their price objective on Walmart from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, Truist Financial upped their price objective on shares of Walmart from $98.00 to $111.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $103.58.

Walmart Stock Performance

Shares of NYSE WMT traded up $1.10 during midday trading on Tuesday, hitting $95.83. 1,780,248 shares of the stock traded hands, compared to its average volume of 17,639,241. The firm has a market capitalization of $768.25 billion, a P/E ratio of 39.79, a PEG ratio of 4.42 and a beta of 0.69. 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 firm has a 50-day moving average of $92.27 and a two-hundred day moving average of $90.06. Walmart Inc. has a one year low of $58.56 and a one year high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $178.83 billion. On average, equities analysts forecast that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Announces Dividend

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 dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a yield of 0.98%. Walmart's dividend payout ratio is presently 39.00%.

Walmart Company Profile

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.