Walmart (NYSE:WMT) Price Target Raised to $96.00 at KeyCorp

Walmart (NYSE:WMT) had its price objective hoisted by KeyCorp from $88.00 to $96.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the retailer’s stock.

A number of other analysts have also recently weighed in on WMT. Royal Bank of Canada raised their price target on shares of Walmart from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Monday. Oppenheimer lifted their price target on shares of Walmart from $81.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group increased their price objective on Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 15th. BMO Capital Markets boosted their target price on Walmart from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Redburn Atlantic raised Walmart to a “strong-buy” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $91.51.

Walmart Price Performance

NYSE WMT opened at $87.18 on Wednesday. The company has a market cap of $700.77 billion, a PE ratio of 35.78, a P/E/G ratio of 4.33 and a beta of 0.51. The firm’s 50 day moving average price is $81.75 and its 200-day moving average price is $73.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.22 and a current ratio of 0.85. Walmart has a 52-week low of $49.85 and a 52-week high of $88.29.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Sell-side analysts forecast that Walmart will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 value of $313,228,886.80. Following the completion of the sale, the insider now owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. The trade was a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $80.64, for a total transaction of $2,348,559.36. Following the transaction, the chief executive officer now directly owns 3,873,053 shares in the company, valued at approximately $312,322,993.92. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,337,337 shares of company stock worth $958,823,647. Company insiders own 45.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WMT. SOA Wealth Advisors LLC. increased its stake in Walmart by 4.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 9,052 shares of the retailer’s stock worth $731,000 after buying an additional 364 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Walmart during the third quarter worth approximately $541,000. Second Line Capital LLC raised its stake in Walmart by 6.0% in the 3rd quarter. Second Line Capital LLC now owns 46,450 shares of the retailer’s stock valued at $3,751,000 after purchasing an additional 2,614 shares during the last quarter. TCW Group Inc. lifted its holdings in Walmart by 140.1% in the 3rd quarter. TCW Group Inc. now owns 151,115 shares of the retailer’s stock valued at $12,203,000 after purchasing an additional 88,177 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its stake in Walmart by 31.9% during the 3rd quarter. Soltis Investment Advisors LLC now owns 11,716 shares of the retailer’s stock worth $946,000 after purchasing an additional 2,831 shares during the last quarter. 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.