Walmart (NYSE:WMT) Price Target Raised to $93.00

Walmart (NYSE:WMT) had its price target increased by Piper Sandler from $83.00 to $93.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the retailer’s stock.

A number of other brokerages also recently issued reports on WMT. Wells Fargo & Company upped their price objective on Walmart from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Bank of America increased their price target on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 price target on shares of Walmart in a report on Wednesday, November 13th. BMO Capital Markets increased their price target on Walmart from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday. Finally, UBS Group increased their price target on Walmart from $81.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, October 11th. One analyst has rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $91.51.

Walmart Price Performance

Shares of Walmart stock opened at $87.18 on Monday. The stock has a 50 day moving average of $81.75 and a 200 day moving average of $73.43. Walmart has a 12 month low of $49.85 and a 12 month high of $88.29. The firm has a market cap of $700.77 billion, a PE ratio of 45.33, a PEG ratio of 4.19 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 issued its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The business had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Walmart will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In other Walmart news, major shareholder Alice L. Walton sold 2,709,163 shares of Walmart stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the completion of the transaction, the insider now owns 630,501,148 shares in the company, valued at approximately $48,781,873,820.76. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder S Robson Walton sold 4,057,369 shares of Walmart stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the completion of the transaction, the insider now owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,337,337 shares of company stock worth $958,823,647. Insiders own 45.58% of the company’s stock.

Hedge Funds Weigh In On Walmart

Several institutional investors and hedge funds have recently modified their holdings of the business. Summit Financial Wealth Advisors LLC increased its stake in shares of Walmart by 0.5% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock valued at $1,915,000 after purchasing an additional 118 shares in the last quarter. Providence Wealth Advisors LLC boosted its holdings in Walmart by 0.3% in the 3rd quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer’s stock worth $3,591,000 after buying an additional 122 shares during the last quarter. 3Chopt Investment Partners LLC boosted its holdings in Walmart by 0.4% in the 3rd quarter. 3Chopt Investment Partners LLC now owns 32,633 shares of the retailer’s stock worth $2,635,000 after buying an additional 124 shares during the last quarter. CAP Partners LLC boosted its holdings in Walmart by 2.1% in the 3rd quarter. CAP Partners LLC now owns 6,054 shares of the retailer’s stock worth $489,000 after buying an additional 125 shares during the last quarter. Finally, Investment Advisory Group LLC boosted its holdings in Walmart by 2.1% in the 3rd quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock worth $499,000 after buying an additional 126 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.