Walmart (NYSE:WMT) Price Target Raised to $76.00

Walmart (NYSE:WMT) had its target price increased by Truist Financial from $64.00 to $76.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a hold rating on the retailer’s stock.

Several other equities research analysts also recently issued reports on the company. The Goldman Sachs Group increased their target price on Walmart from $73.00 to $81.00 and gave the stock a buy rating in a research report on Friday. Robert W. Baird raised their target price on Walmart from $65.00 to $70.00 and gave the stock an outperform rating in a research note on Friday, May 17th. Wells Fargo & Company lifted their target price on Walmart from $75.00 to $81.00 and gave the company an overweight rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Walmart from $77.00 to $83.00 and gave the stock a buy rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Walmart from $81.00 to $83.00 and gave the company an overweight rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $78.57.

Walmart Trading Up 0.4 %

Shares of WMT opened at $73.45 on Friday. Walmart has a fifty-two week low of $49.85 and a fifty-two week high of $74.44. The business has a 50-day moving average of $68.86 and a 200 day moving average of $63.43. The firm has a market cap of $590.80 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 3.95 and a beta of 0.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.23 and a current ratio of 0.80.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The firm had revenue of $169.30 billion during the quarter, compared to analyst estimates of $168.56 billion. During the same quarter last year, the business earned $0.61 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Walmart will post 2.43 EPS for the current year.

Insider Transactions at Walmart

In related news, SVP David Chojnowski sold 8,791 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $68.00, for a total transaction of $597,788.00. Following the completion of the sale, the senior vice president now directly owns 94,415 shares in the company, valued at approximately $6,420,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Walmart news, Director Timothy Patrick Flynn sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $64.82, for a total value of $1,944,600.00. Following the transaction, the director now owns 144,807 shares in the company, valued at $9,386,389.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Chojnowski sold 8,791 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $68.00, for a total value of $597,788.00. Following the completion of the sale, the senior vice president now directly owns 94,415 shares in the company, valued at $6,420,220. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,000,613 shares of company stock worth $725,932,010. Company insiders own 45.58% of the company’s stock.

Institutional Investors Weigh In On Walmart

Several institutional investors and hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new position in Walmart during the 1st quarter valued at $25,000. Northwest Capital Management Inc raised its stake in Walmart by 199.3% in the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after buying an additional 293 shares in the last quarter. TruNorth Capital Management LLC raised its stake 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 buying an additional 249 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Walmart in the second quarter worth about $29,000. Finally, Partnership Wealth Management LLC bought a new stake in Walmart during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

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.