KeyCorp Forecasts Strong Price Appreciation for Walmart (NYSE:WMT) Stock

Walmart (NYSE:WMT - Free Report) had its price objective upped by KeyCorp from $88.00 to $96.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the retailer's stock.

A number of other brokerages have also recently issued reports on WMT. Jefferies Financial Group boosted their target price on shares of Walmart from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, November 15th. BMO Capital Markets raised their price objective on Walmart from $80.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday. Morgan Stanley raised their target price on Walmart from $82.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. TD Cowen lifted their target price on shares of Walmart from $80.00 to $85.00 and gave the company a "buy" rating in a report on Friday, August 16th. Finally, Telsey Advisory Group lifted their target price on shares of Walmart from $92.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Walmart currently has an average rating of "Buy" and an average price target of $91.51.

Walmart Stock Performance

Shares of NYSE WMT traded up $0.58 during midday trading on Wednesday, reaching $87.18. The company's stock had a trading volume of 17,348,499 shares, compared to its average volume of 16,843,436. Walmart has a 12-month low of $49.85 and a 12-month high of $88.29. The firm has a 50 day moving average price of $81.58 and a 200-day moving average price of $73.34. The stock has a market capitalization of $700.77 billion, a P/E ratio of 45.05, a PEG ratio of 4.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22.

Walmart (NYSE:WMT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.51 earnings per share. Walmart's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Walmart will post 2.44 earnings per share for the current year.

Insider Transactions at Walmart

In other news, EVP John D. Rainey sold 3,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $82.12, for a total transaction of $246,360.00. Following the completion of the transaction, the executive vice president now owns 378,165 shares in the company, valued at approximately $31,054,909.80. This represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Furner sold 13,125 shares of the company's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $82.96, for a total transaction of $1,088,850.00. Following the transaction, the executive vice president now owns 593,040 shares of the company's stock, valued at $49,198,598.40. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. Corporate insiders own 45.58% of the company's stock.

Institutional Investors Weigh In On Walmart

Several institutional investors have recently bought and sold shares of the stock. Summit Financial Wealth Advisors LLC increased its holdings in Walmart by 0.5% in the third quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer's stock worth $1,915,000 after buying an additional 118 shares during the last quarter. Providence Wealth Advisors LLC raised its stake in Walmart by 0.3% during the third quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer's stock worth $3,591,000 after acquiring an additional 122 shares in the last quarter. 3Chopt Investment Partners LLC raised its stake in Walmart by 0.4% during the third quarter. 3Chopt Investment Partners LLC now owns 32,633 shares of the retailer's stock worth $2,635,000 after acquiring an additional 124 shares in the last quarter. CAP Partners LLC raised its stake in Walmart by 2.1% during the third quarter. CAP Partners LLC now owns 6,054 shares of the retailer's stock worth $489,000 after acquiring an additional 125 shares in the last quarter. Finally, Investment Advisory Group LLC increased its stake in shares of Walmart by 2.1% in the third quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer's stock valued at $499,000 after buying an additional 126 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company's stock.

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.