Walmart (NYSE:WMT) Stock Price Up 1.4% – Here’s Why

Walmart Inc. (NYSE:WMT)’s share price rose 1.4% during mid-day trading on Tuesday . The company traded as high as $91.83 and last traded at $91.66. Approximately 2,887,078 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 17,063,391 shares. The stock had previously closed at $90.35.

Wall Street Analyst Weigh In

Several research firms recently commented on WMT. Barclays boosted their target price on Walmart from $78.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Royal Bank of Canada boosted their target price on Walmart from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. StockNews.com downgraded Walmart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Oppenheimer increased their target price on Walmart from $81.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Piper Sandler raised their target price on shares of Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.69.

Walmart Trading Up 2.6 %

The stock has a market cap of $744.53 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 4.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.85. The company has a 50 day moving average of $88.16 and a two-hundred day moving average of $78.54.

Walmart (NYSE:WMT) last released its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business 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%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts anticipate that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Daniel J. Bartlett sold 2,065 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.69, for a total value of $166,624.85. Following the sale, the executive vice president now owns 457,493 shares of the company’s stock, valued at $36,915,110.17. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.79, for a total transaction of $2,411,175.96. Following the sale, the chief executive officer now owns 3,843,929 shares of the company’s stock, valued at $318,238,881.91. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,163 shares of company stock valued at $8,816,049 over the last 90 days. 45.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Walmart

A number of large investors have recently modified their holdings of the business. Jennison Associates LLC lifted its holdings in shares of Walmart by 479.6% in the third quarter. Jennison Associates LLC now owns 18,479,259 shares of the retailer’s stock valued at $1,492,200,000 after purchasing an additional 15,290,936 shares in the last quarter. FMR LLC boosted its stake in shares of Walmart by 12.9% during the third quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock valued at $5,098,203,000 after acquiring an additional 7,200,004 shares during the last quarter. International Assets Investment Management LLC raised its stake in Walmart by 8,814.4% in the 3rd quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock valued at $562,280,000 after purchasing an additional 6,885,106 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Walmart by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock worth $7,048,465,000 after purchasing an additional 2,786,061 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Walmart by 4.6% during the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock worth $3,848,533,000 after buying an additional 2,107,197 shares in the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

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.