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

Walmart (NYSE:WMT) had its price objective lifted by Evercore ISI from $94.00 to $96.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the retailer’s stock.

A number of other research firms also recently issued reports on WMT. The Goldman Sachs Group boosted their price target on Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Roth Mkm lifted their price target on shares of Walmart from $81.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Redburn Atlantic raised shares of Walmart to a “strong-buy” rating in a research note on Monday, September 23rd. Piper Sandler upped their price target on shares of Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Melius Research started coverage on Walmart in a research report on Monday, September 23rd. They issued a “buy” rating and a $95.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.11.

Walmart Stock Performance

NYSE WMT opened at $95.32 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $766.21 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 4.44 and a beta of 0.54. The business’s 50-day moving average price is $84.42 and its 200 day moving average price is $75.71. Walmart has a twelve month low of $49.85 and a twelve month high of $95.60.

Walmart (NYSE:WMT) last released its 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 firm had revenue of $169.59 billion during the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. Walmart’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. On average, research analysts predict that Walmart will post 2.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $92.47, for a total value of $277,410.00. Following the sale, the executive vice president now directly owns 375,165 shares in the company, valued at $34,691,507.55. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the completion of the transaction, the insider now owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,300,460 shares of company stock valued at $570,820,065 over the last quarter. Insiders own 45.58% of the company’s stock.

Hedge Funds Weigh In On Walmart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new stake in shares of Walmart during the 3rd quarter worth about $26,000. Voisard Asset Management Group Inc. lifted its position in Walmart by 77.3% in the third quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock worth $32,000 after purchasing an additional 174 shares during the period. Hoese & Co LLP acquired a new stake in Walmart in the third quarter worth approximately $33,000. TruNorth Capital Management LLC increased its position in shares of Walmart by 138.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after purchasing an additional 249 shares during the period. Finally, Cultivar Capital Inc. acquired a new position in shares of Walmart during the 2nd quarter valued at $29,000. 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.