Walmart (NYSE:WMT) Price Target Raised to $75.00 at Wells Fargo & Company

Walmart (NYSE:WMT) had its target price boosted by analysts at Wells Fargo & Company from $70.00 to $75.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 11.34% from the company’s previous close.

Several other equities research analysts also recently commented on WMT. Jefferies Financial Group upped their target price on Walmart from $75.00 to $77.00 and gave the company a “buy” rating in a report on Monday, June 10th. TD Cowen upped their target price on Walmart from $68.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 17th. StockNews.com downgraded Walmart from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 27th. Robert W. Baird upped their target price on Walmart from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Finally, Raymond James upped their target price on Walmart from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat, Walmart presently has an average rating of “Moderate Buy” and a consensus price target of $72.09.

Walmart Price Performance

WMT stock traded down $0.38 during trading hours on Wednesday, hitting $67.36. 1,393,420 shares of the stock traded hands, compared to its average volume of 17,275,709. The stock has a 50-day simple moving average of $68.33 and a 200 day simple moving average of $62.60. Walmart has a one year low of $49.85 and a one year high of $71.33. The company has a market cap of $541.81 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.95 and a beta of 0.50. The company has a current ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The business had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that Walmart will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Walmart

In other Walmart news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the completion of the sale, the executive vice president now owns 387,165 shares in the company, valued at approximately $26,787,946.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Walmart news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.60, for a total value of $926,625.00. Following the completion of the sale, the executive vice president now owns 632,415 shares in the company, valued at approximately $44,648,499. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.19, for a total value of $207,570.00. Following the completion of the sale, the executive vice president now owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. The disclosure for this sale can be found here. Insiders have sold 14,540,863 shares of company stock valued at $954,455,147 in the last 90 days. 45.58% of the stock is currently owned by insiders.

Institutional Trading of Walmart

A number of hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Walmart during the 1st quarter worth approximately $25,000. Northwest Capital Management Inc lifted its position in shares of Walmart by 199.3% during the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after buying an additional 293 shares during the period. TruNorth Capital Management LLC lifted its position in shares of Walmart by 138.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after buying an additional 249 shares during the period. Cultivar Capital Inc. bought a new position in shares of Walmart during the 2nd quarter worth approximately $29,000. Finally, Partnership Wealth Management LLC bought a new position in shares of Walmart during the 4th quarter worth approximately $30,000. Institutional investors 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.