Walmart Inc. (NYSE:WMT – Get Free Report) rose 0.2% during midday trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $70.00 to $75.00. Wells Fargo & Company currently has an Overweight rating on the stock. Walmart traded as high as $68.01 and was most recently at $67.90. Approximately 4,633,621 shares traded hands during trading, a 73% decline from its average daily volume of 17,297,166 shares. The stock had previously closed at $67.74.
A number of other analysts have also commented on the stock. Jefferies Financial Group raised their price target on shares of Walmart from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, June 10. Oppenheimer raised their price target on shares of Walmart from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6. StockNews.com downgraded shares of Walmart from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 27. Piper Sandler initiated coverage on shares of Walmart in a research report on Wednesday, July 10. They issued an “overweight” rating and a $81.00 price target on the stock. Finally, DA Davidson raised their price target on shares of Walmart from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 17. Three analysts have rated the stock with a “hold” and 28 have given the company’s stock a “buy” rating. Based on data from MarketBeat, Walmart currently has an average rating of “Moderate Buy” and a consensus price target of $72.09.
Check out our latest Walmart inventory report
Insider buying and selling at Walmart
In other news, Director S Robson Walton sold 3,540,250 shares of Walmart stock in a transaction that occurred on Friday, May 17. The shares were sold at an average price of $64.55, for a total transaction of $228,523,137.50. Following the completion of the sale, the director now directly owns 648,504,011 shares of the company’s stock, valued at $41,860,933,910.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, May 23. The shares were sold at an average price of $65.23, for a total transaction of $1,899,758.52. Following the completion of the transaction, the CEO now directly owns 3,989,526 shares of the company’s stock, valued at approximately $260,236,780.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC’s website. Also, Director S. Robson Walton sold 3,540,250 shares of the company’s stock on Friday, May 17. The shares were sold at an average price of $64.55, for a total transaction of $228,523,137.50. Following the completion of the transaction, the director now owns 648,504,011 shares of the company’s stock, valued at $41,860,933,910.05. The disclosure regarding this sale can be found here. Insiders have sold a total of 14,540,863 shares of the company’s stock, valued at $954,455,147 in the last three months. Company insiders own 45.58% of the company’s shares.
Institutional inflows and outflows
Major investors have recently changed their holdings in the company. Greenwood Gearhart Inc. increased its holdings in Walmart by 5.8% in the 2nd quarter. Greenwood Gearhart Inc. now owns 421,744 shares of the retailer’s stock valued at $28,556,000 after buying an additional 23,239 shares during the period. Kinsale Capital Group Inc. increased its holdings in shares of Walmart by 20.6% in the 2nd quarter. Kinsale Capital Group Inc. now owns 106,556 shares of the retailer’s stock valued at $7,215,000 after buying an additional 18,185 shares during the period. Angeles Wealth Management LLC increased its holdings in shares of Walmart by 16.1% in the 2nd quarter. Angeles Wealth Management LLC now owns 12,173 shares of the retailer’s stock valued at $824,000 after purchasing an additional 1,691 shares during the period. Carson Advisory Inc. increased its holdings in shares of Walmart by 7.7% in the 2nd quarter. Carson Advisory Inc. now owns 10,921 shares of the retailer’s stock valued at $739,000 after purchasing an additional 777 shares during the last quarter. Finally, MGO One Seven LLC increased its holdings in Walmart by 0.9% in the 2nd quarter. MGO One Seven LLC now owns 72,582 shares of the retailer’s stock valued at $4,915,000 after purchasing an additional 654 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.
Price development of Walmart shares
The company has a liquidity ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average is $68.37 and its 200-day moving average is $62.63. The company has a market capitalization of $538.19 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 3.95 and a beta of 0.50.
Walmart (NYSE:WMT – Get Free Report) last released its earnings results on Thursday, May 16. The retailer reported earnings per share of $0.60 for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $161.50 billion for the quarter, compared to the consensus estimate of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company’s quarterly revenue grew by 6.0% compared to the year-ago quarter. In the year-ago quarter, the company posted earnings per share of $0.49. As a group, research analysts forecast that Walmart Inc. will report earnings per share of $2.43 for the current fiscal year.
Walmart Company Profile
(Get free report)
Walmart Inc. operates retail, wholesale, other business and e-commerce businesses worldwide. The company operates through three segments: Walmart US, Walmart International and Sam’s Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash-and-carry stores and discount stores under the Walmart and Walmart Neighborhood Market brands; members-only warehouse clubs; e-commerce websites such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other websites; and mobile commerce applications.
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