Walmart (NYSE:WMT) Price Target Raised to $96.00

Walmart (NYSE:WMT) had its target price increased by KeyCorp from $88.00 to $96.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the retailer’s stock.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Walmart from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and upped their target price for the stock from $76.00 to $89.00 in a report on Tuesday, September 24th. Melius Research initiated coverage on Walmart in a research note on Monday, September 23rd. They issued a “buy” rating and a $95.00 target price for the company. DA Davidson upped their price target on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Guggenheim raised their price objective on Walmart from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.88.

Walmart Stock Up 2.3 %

NYSE WMT opened at $90.44 on Wednesday. Walmart has a 1 year low of $49.85 and a 1 year high of $90.91. The stock has a market capitalization of $726.94 billion, a PE ratio of 37.11, a PEG ratio of 4.33 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. The business’s 50-day moving average is $82.12 and its 200 day moving average is $73.75.

Walmart (NYSE:WMT) last posted its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) 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 firm 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 earned $0.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Walmart will post 2.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP John D. Rainey sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $82.12, for a total value of $246,360.00. Following the completion of the sale, the executive vice president now directly owns 378,165 shares in the company, valued at $31,054,909.80. This represents a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, September 26th. The shares were 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 owns 3,873,053 shares in the company, valued at $312,322,993.92. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,337,337 shares of company stock worth $958,823,647. Company insiders own 45.58% of the company’s stock.

Institutional Investors Weigh In On Walmart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Financial Wealth Advisors LLC increased its stake in shares of Walmart by 0.5% in the third quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock worth $1,915,000 after purchasing an additional 118 shares in the last quarter. Providence Wealth Advisors LLC boosted its holdings in Walmart by 0.3% in the 3rd quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer’s stock worth $3,591,000 after buying an additional 122 shares during the period. 3Chopt Investment Partners LLC increased its stake in Walmart by 0.4% in the 3rd quarter. 3Chopt Investment Partners LLC now owns 32,633 shares of the retailer’s stock worth $2,635,000 after buying an additional 124 shares in the last quarter. CAP Partners LLC raised its holdings in Walmart by 2.1% during the third quarter. CAP Partners LLC now owns 6,054 shares of the retailer’s stock valued at $489,000 after acquiring an additional 125 shares during the period. Finally, Investment Advisory Group LLC lifted its position in shares of Walmart by 2.1% in the third quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock valued at $499,000 after acquiring an additional 126 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

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.