Walmart (NYSE:WMT) Trading Up 0.1% Following Earnings Beat

Walmart Inc. (NYSE:WMT)’s share price shot up 0.1% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $87.09 and last traded at $86.72. 5,598,800 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 16,784,646 shares. The stock had previously closed at $86.60.

The retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $169.59 billion during the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a return on equity of 21.78% and a net margin of 2.92%. Walmart’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS.

Analyst Upgrades and Downgrades

WMT has been the subject of a number of research reports. DA Davidson boosted their target price on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Bank of America boosted their price objective on shares of Walmart from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird lifted their target price on Walmart from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of Walmart from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Monday. Finally, TD Cowen increased their target price on Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.49.

Insider Activity at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $80.64, for a total transaction of $2,348,559.36. Following the transaction, the chief executive officer now owns 3,873,053 shares of the company’s stock, valued at $312,322,993.92. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the completion of the sale, the insider now directly owns 619,646,544 shares of the company’s stock, valued at $47,687,998,026.24. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,337,337 shares of company stock valued at $958,823,647 over the last 90 days. 45.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Walmart

Large investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new position in shares of Walmart in the first quarter valued at approximately $25,000. Peterson Financial Group Inc. bought a new position in Walmart in the 3rd quarter worth $26,000. TruNorth Capital Management LLC lifted its position in 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 acquiring an additional 249 shares during the last quarter. Cultivar Capital Inc. bought a new stake in Walmart during the second quarter valued at about $29,000. Finally, FSA Wealth Management LLC grew its position in shares of Walmart by 253.0% in the first quarter. FSA Wealth Management LLC now owns 526 shares of the retailer’s stock valued at $32,000 after purchasing an additional 377 shares during the last quarter. 26.76% of the stock is owned by institutional investors.

Walmart Stock Up 1.3 %

The business has a 50 day moving average price of $81.92 and a 200 day moving average price of $73.54. The firm has a market capitalization of $709.94 billion, a P/E 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 current ratio of 0.85 and a quick ratio of 0.22.

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.