Walmart (NYSE:WMT) Price Target Raised to $86.00 at KeyCorp

Walmart (NYSE:WMT) had its price target lifted by KeyCorp from $82.00 to $86.00 in a report published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the retailer’s stock.

Several other research firms have also recently weighed in on WMT. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up from $81.00) on shares of Walmart in a report on Friday, August 16th. Barclays boosted their price objective on shares of Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. DA Davidson increased their price objective on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Oppenheimer boosted their target price on shares of Walmart from $81.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Jefferies Financial Group increased their target price on Walmart from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $82.96.

Walmart Stock Performance

Shares of WMT opened at $81.22 on Monday. The company has a market cap of $652.87 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 4.02 and a beta of 0.51. The business’s fifty day simple moving average is $77.37 and its two-hundred day simple moving average is $69.31. Walmart has a 12 month low of $49.85 and a 12 month high of $81.82. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same period in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts anticipate that Walmart will post 2.44 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.60, for a total transaction of $926,625.00. Following the sale, the executive vice president now owns 632,415 shares of the company’s stock, valued at $44,648,499. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Walmart news, EVP John R. Furner sold 13,125 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.60, for a total transaction of $926,625.00. Following the sale, the executive vice president now owns 632,415 shares of the company’s stock, valued at approximately $44,648,499. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.61, for a total value of $2,056,445.64. Following the completion of the transaction, the chief executive officer now owns 3,931,301 shares of the company’s stock, valued at approximately $277,589,163.61. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,337,337 shares of company stock worth $958,267,901. Company insiders own 45.58% of the company’s stock.

Hedge Funds Weigh In On Walmart

Institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of Walmart in the first quarter valued at about $25,000. Northwest Capital Management Inc increased its stake in shares of Walmart by 199.3% in the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after acquiring an additional 293 shares during the last quarter. TruNorth Capital Management LLC raised its stake in Walmart by 138.3% during the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after purchasing an additional 249 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Walmart during the 2nd quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC raised its position in Walmart by 253.0% in the first quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock valued at $32,000 after purchasing an additional 377 shares during the period. 26.76% of the stock is owned by hedge funds and other institutional investors.

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.