Evercore ISI Boosts Walmart (NYSE:WMT) Price Target to $78.00

Walmart (NYSE:WMT) had its price objective hoisted by Evercore ISI from $74.00 to $78.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the retailer’s stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company upped their price objective on Walmart from $75.00 to $81.00 and gave the company an overweight rating in a research note on Friday. Bank of America upped their price objective on Walmart from $67.00 to $75.00 and gave the company a buy rating in a research note on Friday, May 17th. Truist Financial upped their price objective on Walmart from $60.00 to $64.00 and gave the company a hold rating in a research note on Friday, May 17th. Raymond James upped their price objective on Walmart from $63.00 to $70.00 and gave the company an outperform rating in a research note on Friday, May 17th. Finally, Tigress Financial increased their target price on Walmart from $75.00 to $86.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $78.57.

Walmart Stock Up 0.4 %

Walmart stock 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 company has a debt-to-equity ratio of 0.48, a quick ratio of 0.23 and a current ratio of 0.80. The company has a market capitalization of $590.80 billion, a P/E ratio of 31.39, a PEG ratio of 3.95 and a beta of 0.50. The stock has a 50-day simple moving average of $68.86 and a 200-day simple moving average of $63.43.

Walmart (NYSE:WMT) last posted its 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 business had revenue of $169.30 billion during the quarter, compared to the consensus estimate of $168.56 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. Equities research analysts expect that Walmart will post 2.43 earnings per share for the current year.

Insider Transactions at Walmart

In other news, major shareholder Alice L. Walton sold 3,633,800 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $66.80, for a total transaction of $242,737,840.00. Following the sale, the insider now owns 636,898,811 shares in the company, valued at $42,544,840,574.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Alice L. Walton sold 1,132,123 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $65.02, for a total value of $73,610,637.46. Following the transaction, the insider now directly owns 647,371,888 shares of the company’s stock, valued at approximately $42,092,120,157.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alice L. Walton sold 3,633,800 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $66.80, for a total value of $242,737,840.00. Following the completion of the transaction, the insider now directly owns 636,898,811 shares in the company, valued at $42,544,840,574.80. The disclosure for this sale can be found here. Insiders have sold 11,000,613 shares of company stock worth $725,932,010 over the last quarter. 45.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Partnership Wealth Management LLC purchased a new position in shares of Walmart in the 4th quarter worth $30,000. Able Wealth Management LLC purchased a new position in shares of Walmart in the 4th quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Walmart in the fourth quarter valued at about $32,000. Signature Resources Capital Management LLC purchased a new position in Walmart in the fourth quarter valued at about $35,000. Finally, Tidemark LLC purchased a new stake in shares of Walmart in the fourth quarter worth about $37,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

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.