Walmart (NYSE:WMT) Hits New 1-Year High on Strong Earnings

Walmart Inc. (NYSE:WMT)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $87.62 and last traded at $86.92, with a volume of 4335722 shares. The stock had previously closed at $84.08.

The retailer reported $0.58 earnings per share for the quarter, beating 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 return on equity of 21.72% and a net margin of 2.34%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded Walmart from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Piper Sandler lifted their target price on Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and raised their target price for the company from $76.00 to $89.00 in a research note on Tuesday, September 24th. Tigress Financial raised their price objective on shares of Walmart from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Redburn Atlantic raised Walmart to a “strong-buy” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $86.98.

Insider Buying and Selling

In other Walmart news, major shareholder Alice L. Walton sold 2,709,163 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total value of $209,607,941.31. Following the completion of the sale, the insider now owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 611,988,318 shares of the company’s stock, 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. In the last quarter, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Walmart

A number of hedge funds have recently modified their holdings of the business. Oxbow Advisors LLC boosted its position in Walmart by 45.0% during the third quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock worth $2,298,000 after purchasing an additional 8,834 shares during the period. Crossmark Global Holdings Inc. raised its position in Walmart by 21.9% in the third quarter. Crossmark Global Holdings Inc. now owns 587,001 shares of the retailer’s stock valued at $47,400,000 after purchasing an additional 105,430 shares during the last quarter. Whalerock Point Partners LLC lifted its holdings in shares of Walmart by 213.5% during the first quarter. Whalerock Point Partners LLC now owns 29,613 shares of the retailer’s stock worth $1,782,000 after purchasing an additional 20,167 shares during the period. WFA Asset Management Corp raised its holdings in Walmart by 201.0% during the 1st quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock worth $126,000 after purchasing an additional 1,397 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Walmart by 14.9% in the 3rd quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock valued at $503,517,000 after purchasing an additional 809,352 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Stock Performance

The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $81.58 and its 200-day moving average is $73.34. The firm has a market capitalization of $696.11 billion, a P/E ratio of 45.10, a price-to-earnings-growth ratio of 4.20 and a beta of 0.51.

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.