Walmart (NYSE:WMT) Stock Price Up 0.1% on Strong Earnings

Shares of Walmart Inc. (NYSE:WMT) traded up 0.1% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $87.09 and last traded at $86.72. 5,598,800 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 16,784,646 shares. The stock had previously closed at $86.60.

The retailer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The firm had revenue of $169.59 billion for the quarter, compared to analyst estimates of $167.69 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WMT shares. Oppenheimer lifted their price target on shares of Walmart from $81.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Roth Mkm upped their target price on shares of Walmart from $81.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim increased their price target on shares of Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Walmart from $77.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group increased their target price on Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.49.

Insider Activity

In other news, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total value of $182,823,328.48. Following the transaction, the insider now owns 619,646,544 shares of the company’s stock, valued at $47,687,998,026.24. This represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total value of $2,348,559.36. Following the sale, the chief executive officer now directly owns 3,873,053 shares of the company’s stock, valued at approximately $312,322,993.92. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is currently owned by insiders.

Institutional Trading of Walmart

A number of hedge funds have recently modified their holdings of WMT. EntryPoint Capital LLC bought a new position in shares of Walmart during the first quarter worth $25,000. Peterson Financial Group Inc. bought a new stake in shares of Walmart in the 3rd quarter valued at $26,000. TruNorth Capital Management LLC raised its stake in Walmart by 138.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after buying an additional 249 shares during the period. Cultivar Capital Inc. bought a new position in Walmart during the second quarter worth about $29,000. Finally, FSA Wealth Management LLC grew its stake in 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 acquiring an additional 377 shares during the period. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Up 1.3 %

The company has a quick ratio of 0.22, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $709.94 billion, a P/E ratio of 36.25, a P/E/G ratio of 4.33 and a beta of 0.51. The firm has a fifty day simple moving average of $81.92 and a 200-day simple moving average of $73.54.

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.