Walmart (NYSE:WMT – Free Report) had its price target lifted by Guggenheim from $90.00 to $100.00 in a research note released on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the retailer’s stock.
Several other brokerages have also recently commented on WMT. Wells Fargo & Company raised their target price on shares of Walmart from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Redburn Atlantic upgraded shares of Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. Stifel Nicolaus increased their target price on Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. BMO Capital Markets lifted their price target on Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Finally, DA Davidson increased their price objective on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.88.
Check Out Our Latest Research Report on Walmart
Walmart Trading Up 2.3 %
Walmart (NYSE:WMT – Get Free Report) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $167.69 billion. During the same period in the previous year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Walmart will post 2.47 EPS for the current fiscal year.
Insider Activity
In related news, EVP John R. Furner sold 13,125 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.96, for a total transaction of $1,088,850.00. Following the completion of the sale, the executive vice president now owns 593,040 shares in the company, valued at $49,198,598.40. This represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $82.12, for a total transaction of $246,360.00. Following the completion of the sale, the executive vice president now owns 378,165 shares in the company, valued at approximately $31,054,909.80. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,337,337 shares of company stock valued at $958,823,647 over the last 90 days. 45.58% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Walmart
Large investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Walmart in the 1st quarter valued at $25,000. Peterson Financial Group Inc. bought a new stake in Walmart in the third quarter valued at about $26,000. TruNorth Capital Management LLC raised its position in Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after purchasing an additional 249 shares in the last quarter. Cultivar Capital Inc. bought a new position in Walmart during the second quarter worth about $29,000. Finally, FSA Wealth Management LLC boosted its holdings in Walmart by 253.0% during the first quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock valued at $32,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.
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.
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