Wells Fargo & Company Boosts Walmart (NYSE:WMT) Price Target to $88.00

Walmart (NYSE:WMT) had its price objective upped by equities research analysts at Wells Fargo & Company from $81.00 to $88.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 9.05% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley increased their price target on shares of Walmart from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Walmart from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Tigress Financial upped their price target on shares of Walmart from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. TD Cowen lifted their price objective on Walmart from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Guggenheim upped their target price on Walmart from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $80.19.

Walmart Stock Up 0.5 %

Walmart stock opened at $80.70 on Monday. The firm has a market capitalization of $649.11 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 4.03 and a beta of 0.51. The firm has a 50 day simple moving average of $73.86 and a 200 day simple moving average of $67.16. Walmart has a 1-year low of $49.85 and a 1-year high of $81.02. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $169.30 billion during the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. On average, analysts predict that Walmart will post 2.44 earnings per share for the current year.

Insider Buying and Selling at Walmart

In related news, major shareholder Alice L. Walton sold 2,709,163 shares of the firm’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 sale, the insider now directly owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Alice L. Walton sold 2,709,163 shares of the firm’s stock in a transaction on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the transaction, the insider now directly owns 611,988,318 shares in the company, valued at $47,245,498,149.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,360,248 shares of company stock worth $959,228,295. 45.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Landmark Financial Advisors LLC lifted its position in Walmart by 1.0% during the fourth quarter. Landmark Financial Advisors LLC now owns 7,055 shares of the retailer’s stock valued at $1,112,000 after buying an additional 70 shares during the period. Syverson Strege & Co boosted its stake in Walmart by 2.6% during the fourth quarter. Syverson Strege & Co now owns 3,377 shares of the retailer’s stock worth $532,000 after acquiring an additional 85 shares in the last quarter. Amussen Hunsaker Associates LLC grew its holdings in Walmart by 0.5% in the fourth quarter. Amussen Hunsaker Associates LLC now owns 15,979 shares of the retailer’s stock worth $2,519,000 after purchasing an additional 86 shares during the period. Per Stirling Capital Management LLC. grew its holdings in Walmart by 2.6% in the fourth quarter. Per Stirling Capital Management LLC. now owns 4,009 shares of the retailer’s stock worth $632,000 after purchasing an additional 100 shares during the period. Finally, Pin Oak Investment Advisors Inc. lifted its holdings in shares of Walmart by 1.6% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 6,166 shares of the retailer’s stock valued at $975,000 after purchasing an additional 100 shares during the last quarter. 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.