Walmart (NYSE:WMT) Price Target Raised to $93.00

Walmart (NYSE:WMT) had its target price raised by Piper Sandler from $83.00 to $93.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the retailer’s stock.

A number of other equities analysts have also recently weighed in on WMT. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Walmart from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Jefferies Financial Group increased their target price on shares of Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Roth Mkm increased their target price on shares of Walmart from $71.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. The Goldman Sachs Group increased their target price on shares of Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Evercore ISI increased their target price on shares of Walmart from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.49.

Walmart Stock Performance

Shares of NYSE WMT opened at $88.32 on Monday. The company’s fifty day moving average price is $81.92 and its 200 day moving average price is $73.54. Walmart has a 1 year low of $49.85 and a 1 year high of $88.64. The company has a market capitalization of $709.94 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 4.33 and a beta of 0.51. 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 (NYSE:WMT) last posted its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $169.59 billion during the quarter, compared to analysts’ expectations of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, research analysts predict that Walmart will post 2.47 earnings per share for the current year.

Insider Activity

In related news, major shareholder Alice L. Walton sold 2,709,163 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total value of $209,607,941.31. Following the sale, the insider now owns 630,501,148 shares of the company’s stock, valued at $48,781,873,820.76. This trade represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.48, for a total transaction of $232,440.00. Following the completion of the sale, the executive vice president now directly owns 384,165 shares in the company, valued at approximately $29,765,104.20. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Walmart

A number of institutional investors have recently modified their holdings of WMT. EntryPoint Capital LLC purchased a new position in Walmart in the 1st quarter valued at $25,000. Peterson Financial Group Inc. acquired a new position in shares of Walmart during the 3rd quarter worth $26,000. TruNorth Capital Management LLC boosted its stake in shares of Walmart by 138.3% during the 2nd 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 last quarter. Cultivar Capital Inc. acquired a new stake in shares of Walmart during the second quarter worth $29,000. Finally, FSA Wealth Management LLC boosted its holdings in shares of Walmart by 253.0% during the first quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock worth $32,000 after purchasing an additional 377 shares during the last quarter. 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.