Walmart (NYSE:WMT) Price Target Raised to $98.00

Walmart (NYSE:WMT) had its target price lifted by Truist Financial from $89.00 to $98.00 in a research report sent to investors on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the retailer’s stock.

WMT has been the subject of several other research reports. Oppenheimer raised their target price on Walmart from $81.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Guggenheim increased their price target on Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group increased their price target on Walmart from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Redburn Atlantic upgraded Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. Finally, Piper Sandler increased their price target on Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Walmart presently has an average rating of “Moderate Buy” and a consensus price target of $91.88.

Walmart Price Performance

Shares of NYSE WMT opened at $90.44 on Wednesday. The firm has a market capitalization of $726.98 billion, a PE ratio of 37.07, a P/E/G ratio of 4.20 and a beta of 0.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.22. Walmart has a 1-year low of $49.85 and a 1-year high of $90.91. The business’s fifty day moving average price is $82.12 and its two-hundred day moving average price is $73.84.

Walmart (NYSE:WMT) last announced its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The business had revenue of $169.59 billion during the quarter, compared to analysts’ expectations of $167.69 billion. During the same quarter last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts expect that Walmart will post 2.47 EPS for the current year.

Insider Activity at Walmart

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total value of $2,348,559.36. Following the transaction, the chief executive officer now directly owns 3,873,053 shares of the company’s stock, valued at approximately $312,322,993.92. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the completion of the transaction, the insider now directly owns 611,988,318 shares in the company, valued at $47,245,498,149.60. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. Corporate insiders own 45.58% of the company’s stock.

Institutional Trading of Walmart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WMT. WFA Asset Management Corp grew its holdings in Walmart by 201.0% in the 1st quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after buying an additional 1,397 shares during the last quarter. Dupont Capital Management Corp grew its holdings in Walmart by 165.4% in the 1st quarter. Dupont Capital Management Corp now owns 270,147 shares of the retailer’s stock valued at $16,255,000 after buying an additional 168,346 shares during the last quarter. Tiemann Investment Advisors LLC grew its holdings in shares of Walmart by 186.8% during the 1st quarter. Tiemann Investment Advisors LLC now owns 12,218 shares of the retailer’s stock worth $735,000 after purchasing an additional 7,958 shares in the last quarter. InterOcean Capital Group LLC grew its holdings in shares of Walmart by 211.0% during the 1st quarter. InterOcean Capital Group LLC now owns 1,710,257 shares of the retailer’s stock worth $102,906,000 after purchasing an additional 1,160,354 shares in the last quarter. Finally, Natixis grew its holdings in shares of Walmart by 96.7% during the 1st quarter. Natixis now owns 921,820 shares of the retailer’s stock worth $55,466,000 after purchasing an additional 453,101 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

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.