Walmart (NYSE:WMT) Stock Price Up 3.4% Following Dividend Announcement

Walmart Inc. (NYSE:WMT) shares traded up 3.4% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $96.60 and last traded at $96.83. 8,350,363 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 16,969,725 shares. The stock had previously closed at $93.67.

The newly announced dividend which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be given a $0.235 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a yield of 0.96%. Walmart’s dividend payout ratio is currently 39.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WMT. Truist Financial upped their target price on Walmart from $98.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Roth Mkm reiterated a “buy” rating and issued a $108.00 target price (up previously from $97.00) on shares of Walmart in a research report on Friday, February 21st. UBS Group dropped their target price on Walmart from $113.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $115.00 target price on shares of Walmart in a research report on Friday, February 21st. Finally, Royal Bank of Canada dropped their target price on Walmart from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $103.07.

Walmart Trading Up 4.4 %

The company has a 50 day moving average of $95.65 and a 200 day moving average of $87.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82. The stock has a market capitalization of $785.78 billion, a price-to-earnings ratio of 40.59, a P/E/G ratio of 4.42 and a beta of 0.55.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $180.55 billion during the quarter, compared to analysts’ expectations of $178.83 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. On average, research analysts predict that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In other news, EVP John R. Furner sold 13,125 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $92.60, for a total transaction of $1,215,375.00. Following the completion of the transaction, the executive vice president now directly owns 566,794 shares in the company, valued at approximately $52,485,124.40. This represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John D. Rainey sold 3,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $92.47, for a total value of $277,410.00. Following the transaction, the executive vice president now owns 375,165 shares of the company’s stock, valued at approximately $34,691,507.55. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,528 shares of company stock worth $13,849,185 in the last three months. 45.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Walmart

A number of hedge funds have recently modified their holdings of the business. SWAN Capital LLC grew its holdings in shares of Walmart by 137.8% during the 4th quarter. SWAN Capital LLC now owns 1,384 shares of the retailer’s stock worth $125,000 after purchasing an additional 802 shares during the period. Heck Capital Advisors LLC acquired a new position in Walmart during the 4th quarter worth about $1,405,000. Leigh Baldwin & CO. LLC acquired a new position in Walmart during the 4th quarter worth about $1,309,000. Armis Advisers LLC acquired a new position in Walmart during the 4th quarter worth about $2,859,000. Finally, Shufro Rose & Co. LLC lifted its stake in Walmart by 13.4% during the 4th quarter. Shufro Rose & Co. LLC now owns 12,147 shares of the retailer’s stock worth $1,097,000 after acquiring an additional 1,440 shares in the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

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.