Eastern Bank Cuts Walmart Stake by 12.6% in Third Quarter
Eastern Bank reduced its stake in Walmart Inc. (NASDAQ: WMT) by 12.6% during the third quarter, selling 113,072 shares. The fund now holds 783,561 shares, representing about 1.2% of its portfolio. Walmart remains the bank's 22nd largest holding, valued at $81,428,000 at the end of the reporting period.
Several other institutional investors have adjusted their positions in Walmart. MFA Wealth Services increased its stake by 0.7% in the first quarter, while Realta Investment Advisors boosted its holdings by 2.0%. Compton Financial Group LLC raised its position by 4.1%, and Advocacy Wealth Management LLC increased its stake by 2.5% during the fourth quarter. Strait & Sound Wealth Management LLC also grew its position by 0.3% in the first quarter. Institutional investors and hedge funds collectively own 26.76% of Walmart's stock.
Wall Street analysts maintain a generally positive outlook on Walmart. Jefferies Financial Group reaffirmed a 'buy' rating with a $120.00 price target, while Telsey Advisory Group lowered its target to $130.00 but kept an 'outperform' rating. BMO Capital Markets also reaffirmed an 'outperform' rating with a $126.00 target. Piper Sandler reiterated an 'overweight' rating with a $128.00 target, down from $137.00. Robert W. Baird decreased its target to $120.00 but maintained an 'outperform' rating. Overall, Walmart has an average rating of 'Moderate Buy' with a consensus price target of $131.74.
Insider activity includes EVP Daniel Danker selling 50,644 shares at $105.35 each, totaling $5,335,345.40. Following the sale, Danker owns 201,672 shares. EVP Daniel Bartlett sold 3,990 shares at $104.41 each, amounting to $416,595.90. Insiders sold a total of 81,219 shares worth $8,604,429 in the last quarter. Corporate insiders own 0.09% of the stock.
Walmart's stock rose 0.4% to $104.67 on Monday, with a trading volume of 6,885,288 shares. The company has a market capitalization of $830.39 billion, a PE ratio of 37.79, and a PEG ratio of 3.98. Walmart reported earnings of $0.81 per share for the quarter, beating estimates of $0.74. The company's revenue was $187.94 billion, up 5.9% year-over-year. Walmart has set its Q3 2027 guidance at $0.620-$0.640 EPS and its FY 2027 guidance at $2.800-$2.870 EPS.