Walmart (NYSE:WMT) Stock Price Expected to Rise, Evercore ISI Analyst Says

Walmart (NYSE:WMT) had its price target raised by research analysts at Evercore ISI from $66.00 to $89.00 in a report released on Monday. The firm currently has an “overweight” rating on the retailer’s stock. Evercore ISI’s price target points to a potential upside of 5.90% from the company’s current price.

A number of other analysts also recently issued reports on WMT. Piper Sandler increased their target price on shares of Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley raised their price target on shares of Walmart from $82.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Telsey Advisory Group restated an “outperform” rating and issued a $92.00 price target on shares of Walmart in a report on Wednesday, November 13th. Jefferies Financial Group lifted their price objective on shares of Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday. Finally, Bank of America lifted their price objective on shares of Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $86.71.

Walmart Stock Down 0.2 %

Walmart stock traded down $0.21 during trading on Monday, reaching $84.04. The stock had a trading volume of 15,210,652 shares, compared to its average volume of 16,704,951. Walmart has a 52-week low of $49.85 and a 52-week high of $85.79. The business has a 50 day moving average price of $81.29 and a 200 day moving average price of $72.98. 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 stock has a market cap of $675.53 billion, a PE ratio of 43.70, a P/E/G ratio of 4.20 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly 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. The business had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. On average, analysts predict that Walmart will post 2.44 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total transaction of $232,440.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 2,709,163 shares of Walmart stock in a transaction that occurred 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 transaction, the insider now owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,337,337 shares of company stock worth $958,823,647 over the last three months. 45.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Walmart

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its holdings in shares of Walmart by 3.1% during the 3rd quarter. Toronto Dominion Bank now owns 2,337,363 shares of the retailer’s stock worth $188,742,000 after buying an additional 71,075 shares in the last quarter. Strait & Sound Wealth Management LLC boosted its position in shares of Walmart by 6.1% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 18,651 shares of the retailer’s stock valued at $1,506,000 after purchasing an additional 1,068 shares in the last quarter. Synergy Financial Group LTD bought a new stake in shares of Walmart during the 3rd quarter valued at about $266,000. RB Capital Management LLC boosted its position in shares of Walmart by 1.1% during the 3rd quarter. RB Capital Management LLC now owns 34,053 shares of the retailer’s stock valued at $2,750,000 after purchasing an additional 364 shares in the last quarter. Finally, First Dallas Securities Inc. raised its stake in Walmart by 9.7% during the 3rd quarter. First Dallas Securities Inc. now owns 29,411 shares of the retailer’s stock worth $2,375,000 after buying an additional 2,602 shares during the period. 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.