Walmart Stake Sells Off as Company Reports Beaten Earnings

Beverly Hills Private Wealth LLC recently reduced its stake in Walmart Inc. (NASDAQ: WMT) by selling 10,770 shares during the second quarter. The institutional investor's holdings in Walmart were worth $1,127,000 at the end of the most recent quarter. This move represents a decrease of 52% from their previous stake.

The company's latest earnings report showed that Walmart Inc. reported adjusted earnings of $0.81 per share and revenue of $187.94 billion, beating consensus estimates of $0.74 and $186.62 billion respectively. However, U.S. comparable sales grew 2.6%, below expectations near 3.5%, marking Walmart's weakest domestic comparable-sales growth in more than six years.

Several analysts have retained bullish ratings for the company, but lowered price targets after the earnings release. For example, BTIG Research cut their price target on shares of Walmart from $145.00 to $140.00 and set a 'buy' rating for the company in a research report on Friday.