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

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

A number of other analysts have also commented on WMT. Morgan Stanley boosted their price target on Walmart from $89.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Redburn Atlantic raised Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. Sanford C. Bernstein lifted their price objective on shares of Walmart from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen increased their target price on shares of Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Guggenheim lifted their price target on shares of Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Two 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 MarketBeat, Walmart has a consensus rating of “Moderate Buy” and an average price target of $91.88.

Walmart Price Performance

NYSE WMT opened at $90.44 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.22 and a current ratio of 0.85. The stock has a market cap of $726.94 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 4.33 and a beta of 0.51. The business has a 50 day simple moving average of $82.12 and a 200 day simple moving average of $73.75. Walmart has a 52-week low of $49.85 and a 52-week high of $90.91.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $169.59 billion during the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts anticipate that Walmart will post 2.47 earnings per share for the current fiscal year.

Insider Activity at Walmart

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total value of $232,440.00. Following the completion of the sale, the executive vice president now directly owns 384,165 shares in the company, valued at approximately $29,765,104.20. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares in the company, valued at $47,245,498,149.60. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,337,337 shares of company stock worth $958,823,647 in the last ninety days. 45.58% of the stock is owned by company insiders.

Institutional Trading of Walmart

Large investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Walmart in the 1st quarter valued at about $25,000. Peterson Financial Group Inc. acquired a new position in Walmart during the third quarter valued at approximately $26,000. TruNorth Capital Management LLC lifted its stake in Walmart by 138.3% during 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 during the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Walmart in the 2nd quarter valued at $29,000. Finally, FSA Wealth Management LLC increased its stake in shares of Walmart by 253.0% in the 1st quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock valued at $32,000 after purchasing an additional 377 shares during the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.

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.