TD Cowen Issues Positive Forecast for Walmart (NYSE:WMT) Stock Price

Walmart (NYSE:WMT) had its price objective increased by TD Cowen from $90.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the retailer’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays increased their price objective on Walmart from $66.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Telsey Advisory Group boosted their price target on Walmart from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler boosted their price target on shares of Walmart from $83.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com upgraded Walmart from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Morgan Stanley upped 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. One equities research analyst has rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Walmart currently has an average rating of “Buy” and a consensus target price of $91.51.

Walmart Trading Up 0.7 %

Shares of Walmart stock opened at $87.18 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.22 and a debt-to-equity ratio of 0.56. Walmart has a 1 year low of $49.85 and a 1 year high of $88.29. The firm has a market capitalization of $700.77 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 4.33 and a beta of 0.51. The firm’s 50 day moving average is $81.75 and its 200 day moving average is $73.43.

Walmart (NYSE:WMT) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 EPS 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%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Equities research analysts forecast that Walmart will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Walmart

In related news, EVP John R. Furner sold 13,125 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.96, for a total value of $1,088,850.00. Following the completion of the transaction, the executive vice president now directly owns 593,040 shares in the company, valued at approximately $49,198,598.40. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $80.64, for a total transaction of $2,348,559.36. Following the completion of the transaction, the chief executive officer now directly owns 3,873,053 shares in the company, valued at $312,322,993.92. The trade was a 0.75 % 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 in the last ninety days. 45.58% of the stock is owned by insiders.

Institutional Investors Weigh In On Walmart

Large investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in Walmart in the first quarter valued at $25,000. Peterson Financial Group Inc. purchased a new stake in Walmart during the 3rd quarter valued at approximately $26,000. TruNorth Capital Management LLC lifted its holdings in Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after acquiring an additional 249 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Walmart in the 2nd quarter worth 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. Hedge funds and other institutional investors own 26.76% of the company’s stock.

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.