Walmart (NYSE:WMT – Get Free Report) The price target was raised by JPMorgan Chase & Co. from $81.00 to $83.00 in a report published on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the retailer’s stock. JPMorgan Chase & Co.’s price target would imply a potential upside of 13.00% from the company’s current price.
WMT has been the subject of several other research reports. StockNews.com downgraded Walmart from a “strong buy” rating to a “buy” rating in a research note on Saturday, July 27th. Bank of America increased their price target on Walmart from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company increased their price target on Walmart from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Raymond James increased their price target on Walmart from $63.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, Piper Sandler initiated coverage on Walmart in a research note on Wednesday, July 10th. They gave the company an “overweight” rating and a price target of $81.00. Three investment analysts have rated the stock a “hold,” 26 have rated it a “buy,” and one has rated it a “strong buy.” Based on data from MarketBeat, the company currently has an average rating of “moderate buy” and an average price target of $77.79.
Check out our latest research report on WMT
Price development of Walmart shares
WMT shares opened at $73.45 on Friday. The company’s 50-day moving average is $68.86 and its 200-day moving average is $63.37. Walmart has a 52-week low of $49.85 and a 52-week high of $74.44. The company has a market cap of $590.80 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 3.95 and a beta of 0.50. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48.
Walmart (NYSE:WMT – Get Free Report) last released its quarterly earnings results on Thursday, August 15. The retailer reported earnings per share (EPS) of $0.67 for the quarter, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company’s revenue grew by 4.7% compared to the year-ago quarter. During the same period last year, the company posted earnings per share of $0.61. Analysts forecast Walmart to post earnings per share of $2.43 for the current fiscal year.
Insider buying and selling
In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, July 25. The shares were sold at an average price of $70.61, for a total transaction of $2,056,445.64. Following the completion of the transaction, the CEO now owns 3,931,301 shares of the company’s stock, valued at approximately $277,589,163.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction that occurred on Thursday, July 25. The shares were sold at an average price of $70.61, for a total transaction of $2,056,445.64. Following the completion of the transaction, the CEO now owns 3,931,301 shares of the company’s stock, valued at approximately $277,589,163.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy Patrick Flynn sold 30,000 shares of Walmart stock on Tuesday, May 21. The shares were sold at an average price of $64.82, for a total value of $1,944,600.00. Following the completion of the transaction, the director now owns 144,807 shares of the company’s stock, valued at approximately $9,386,389.74. The disclosure regarding this sale can be found here. Insiders sold 11,000,613 shares of the company’s stock, valued at $725,932,010, in the last 90 days. 45.58% of the shares are owned by company insiders.
Institutional investors comment on Walmart
A number of institutional investors and hedge funds have recently made changes to their positions in WMT. Vanguard Group Inc. increased its position in shares of Walmart by 199.4% in the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock worth $24,774,717,000 after acquiring an additional 274,229,968 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Walmart by 181.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after acquiring an additional 36,625,314 shares during the same period. Norges Bank acquired a new stake in shares of Walmart in the fourth quarter valued at $3,674,652,000. Bank of New York Mellon Corp increased its stake in shares of Walmart by 183.0% in the first quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock worth $1,755,339,000 after purchasing an additional 18,865,484 shares during the same period. Finally, Raymond James & Associates increased its stake in shares of Walmart by 212.6% in the first quarter. Raymond James & Associates now owns 14,035,473 shares of the retailer’s stock worth $844,514,000 after purchasing an additional 9,544,958 shares during the same period. Institutional investors own 26.76% of the company’s stock.
About Walmart
(Get free report)
Walmart Inc. operates retail, wholesale, other business and e-commerce businesses worldwide. The company operates through three segments: Walmart US, Walmart International and Sam’s Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash-and-carry stores and discount stores under the Walmart and Walmart Neighborhood Market brands; members-only warehouse clubs; e-commerce websites such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other websites; and mobile commerce applications.
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