Walmart (NYSE:WMT) Price Target Raised to $89.00 at Evercore ISI

Walmart (NYSE:WMT) had its price objective increased by Evercore ISI from $66.00 to $89.00 in a research note issued to investors on Monday. The brokerage currently has an “overweight” rating on the retailer’s stock. Evercore ISI’s target price would suggest a potential upside of 2.77% from the stock’s current price.

Other research analysts have also issued reports about the stock. UBS Group raised their target price on shares of Walmart from $81.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Sanford C. Bernstein initiated coverage on Walmart in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $95.00 price target on the stock. Morgan Stanley boosted their price objective on Walmart from $82.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Piper Sandler increased their target price on Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday. Finally, StockNews.com raised Walmart from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.98.

Walmart Price Performance

Shares of NYSE:WMT opened at $86.60 on Monday. The stock has a market capitalization of $696.11 billion, a P/E ratio of 45.10, a P/E/G ratio of 4.20 and a beta of 0.51. The business has a 50-day moving average of $81.58 and a two-hundred day moving average of $73.34. Walmart has a fifty-two week low of $49.85 and a fifty-two week high of $88.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22.

Walmart (NYSE:WMT) last posted its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The firm had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts predict that Walmart will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In other news, major shareholder Alice L. Walton sold 2,709,163 shares of Walmart 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 completion of the transaction, the insider now owns 630,501,148 shares in the company, valued at approximately $48,781,873,820.76. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,337,337 shares of company stock worth $958,823,647 over the last three months. Company insiders own 45.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WMT. Price T Rowe Associates Inc. MD raised its stake 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 last quarter. Jennison Associates LLC raised its position in Walmart by 479.6% in the 3rd quarter. Jennison Associates LLC now owns 18,479,259 shares of the retailer’s stock worth $1,492,200,000 after purchasing an additional 15,290,936 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Walmart by 284.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock worth $669,227,000 after buying an additional 8,225,552 shares in the last quarter. FMR LLC boosted its position in Walmart by 12.9% in the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock valued at $5,098,203,000 after buying an additional 7,200,004 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Walmart by 8,814.4% in the 3rd quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock valued at $562,280,000 after buying an additional 6,885,106 shares during the period. 26.76% of the stock is owned by 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.