Wells Fargo & Company Issues Positive Forecast for Walmart (NYSE:WMT) Stock Price

Walmart (NYSE:WMT) had its price objective lifted by investment analysts at Wells Fargo & Company from $96.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.11% from the stock’s previous close.

Several other equities analysts have also recently weighed in on WMT. Truist Financial raised their price target on Walmart from $89.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Oppenheimer raised their target price on shares of Walmart from $81.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada increased 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, November 18th. BMO Capital Markets increased their price target on Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Finally, Barclays boosted their price objective on shares of Walmart from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.08.

Walmart Stock Performance

NYSE WMT opened at $91.65 on Friday. The business has a 50-day moving average price of $90.16 and a 200-day moving average price of $80.29. The company has a quick ratio of 0.23, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Walmart has a twelve month low of $52.58 and a twelve month high of $96.18. The firm has a market cap of $736.26 billion, a price-to-earnings ratio of 37.61, a price-to-earnings-growth ratio of 4.47 and a beta of 0.55.

Walmart (NYSE:WMT) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. Walmart’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, equities research analysts predict that Walmart will post 2.47 EPS for the current fiscal year.

Insider Activity

In other news, EVP Daniel J. Bartlett sold 2,065 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.69, for a total transaction of $166,624.85. Following the transaction, the executive vice president now directly owns 457,493 shares of the company’s stock, valued at approximately $36,915,110.17. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 5,446 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average price of $91.81 per share, for a total transaction of $499,997.26. Following the purchase, the director now directly owns 7,805 shares of the company’s stock, valued at approximately $716,577.05. The trade was a 230.86 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 140,412 shares of company stock worth $12,478,116. 45.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Walmart

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Peterson Financial Group Inc. acquired a new stake in shares of Walmart in the third quarter worth $26,000. Voisard Asset Management Group Inc. boosted its holdings in Walmart by 77.3% in the third quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Hoese & Co LLP acquired a new stake in Walmart during the 3rd quarter worth about $33,000. Livelsberger Financial Advisory purchased a new position in shares of Walmart during the 3rd quarter valued at about $36,000. Finally, Hara Capital LLC acquired a new position in shares of Walmart in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 26.76% of the company’s stock.

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.