Walmart (NYSE:WMT) Trading Up 0.3% After Analyst Upgrade

Shares of Walmart Inc. (NYSE:WMT) rose 0.3% during trading on Monday after Evercore ISI raised their price target on the stock from $66.00 to $89.00. Evercore ISI currently has an overweight rating on the stock. Walmart traded as high as $84.85 and last traded at $84.50. Approximately 3,568,724 shares were traded during trading, a decline of 79% from the average daily volume of 16,652,744 shares. The stock had previously closed at $84.25.

WMT has been the subject of several other reports. Telsey Advisory Group reiterated an “outperform” rating and set a $92.00 price objective on shares of Walmart in a research note on Wednesday, November 13th. Truist Financial upgraded Walmart from a “hold” rating to a “buy” rating and boosted their price target for the stock from $76.00 to $89.00 in a research report on Tuesday, September 24th. KeyCorp raised their price objective on Walmart from $87.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Morgan Stanley lifted their target price on shares of Walmart from $82.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer increased their target price on shares of Walmart from $81.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $86.71.

Insiders Place Their Bets

In other Walmart news, EVP John R. Furner sold 13,125 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $82.96, for a total transaction of $1,088,850.00. Following the sale, the executive vice president now directly owns 593,040 shares in the company, valued at $49,198,598.40. This represents a 2.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $82.12, for a total transaction of $246,360.00. Following the completion of the transaction, the executive vice president now directly owns 378,165 shares of the company’s stock, valued at $31,054,909.80. This represents a 0.79 % decrease in their position. 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 ninety days. Corporate insiders own 45.58% of the company’s stock.

Institutional Trading of Walmart

Several hedge funds have recently modified their holdings of the stock. Summit Financial Wealth Advisors LLC grew its holdings in Walmart by 0.5% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock worth $1,915,000 after acquiring an additional 118 shares in the last quarter. Providence Wealth Advisors LLC grew its position in shares of Walmart by 0.3% during the third quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer’s stock worth $3,591,000 after acquiring an additional 122 shares during the last quarter. 3Chopt Investment Partners LLC increased its stake in Walmart by 0.4% in the third quarter. 3Chopt Investment Partners LLC now owns 32,633 shares of the retailer’s stock valued at $2,635,000 after purchasing an additional 124 shares during the period. CAP Partners LLC increased its position in Walmart by 2.1% in the 3rd quarter. CAP Partners LLC now owns 6,054 shares of the retailer’s stock valued at $489,000 after acquiring an additional 125 shares during the period. Finally, Investment Advisory Group LLC lifted its position in Walmart by 2.1% during the 3rd quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock worth $499,000 after acquiring an additional 126 shares during the period. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Down 0.2 %

The company has a market capitalization of $675.94 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 4.20 and a beta of 0.51. The firm’s 50 day simple moving average is $81.43 and its 200-day simple moving average is $73.15. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46.

About Walmart

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.