Walmart (NYSE:WMT) Shares Up 1% on Analyst Upgrade

Walmart Inc. (NYSE:WMT) rose 1% during trading on Tuesday after Morgan Stanley raised their price target on the stock from $82.00 to $89.00. Morgan Stanley currently has an overweight rating on the stock. Walmart traded as high as $85.25 and last traded at $85.01. Approximately 2,422,683 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 16,682,094 shares. The stock had previously closed at $84.21.

Several other research firms have also issued reports on WMT. Sanford C. Bernstein began coverage on shares of Walmart in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. The Goldman Sachs Group upped their price target on shares of Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 16th. Jefferies Financial Group lifted their price objective on Walmart from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Guggenheim raised their target price on Walmart from $81.00 to $90.00 and gave the company a “buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $84.15.

Insiders Place Their Bets

In related news, EVP John R. Furner sold 13,125 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 593,040 shares in the company, valued at approximately $49,198,598.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Walmart news, EVP John D. Rainey sold 3,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 378,165 shares of the company’s stock, valued at approximately $31,054,909.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $82.96, for a total value of $1,088,850.00. Following the completion of the sale, the executive vice president now directly owns 593,040 shares of the company’s stock, valued at approximately $49,198,598.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,337,337 shares of company stock worth $958,823,647. Corporate insiders own 45.58% of the company’s stock.

Institutional Trading of Walmart

Hedge funds have recently modified their holdings of the stock. WFA Asset Management Corp boosted its holdings in Walmart by 201.0% in the 1st quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after purchasing an additional 1,397 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of Walmart by 165.4% in the 1st quarter. Dupont Capital Management Corp now owns 270,147 shares of the retailer’s stock valued at $16,255,000 after purchasing an additional 168,346 shares in the last quarter. Empowered Funds LLC grew its position in Walmart by 307.1% in the first quarter. Empowered Funds LLC now owns 160,292 shares of the retailer’s stock valued at $9,645,000 after acquiring an additional 120,919 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Walmart by 149.8% during the 1st quarter. Wealthspire Advisors LLC now owns 73,785 shares of the retailer’s stock valued at $4,440,000 after purchasing an additional 44,244 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Walmart during the first quarter worth $1,497,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Price Performance

The business has a 50-day moving average of $80.67 and a two-hundred day moving average of $72.27. The firm has a market cap of $683.73 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 4.25 and a beta of 0.51. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

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.