Citigroup Increases Walmart (NYSE:WMT) Price Target to $98.00

Walmart (NYSE:WMT - Get Free Report) had its price target upped by investment analysts at Citigroup from $75.00 to $98.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the retailer's stock. Citigroup's price target would indicate a potential upside of 22.71% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Oppenheimer upped their price objective on Walmart from $69.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, June 6th. Evercore ISI lifted their price objective on shares of Walmart from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Walmart from $75.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 16th. Truist Financial upgraded shares of Walmart from a "hold" rating to a "buy" rating and lifted their price target for the company from $76.00 to $89.00 in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Walmart from $77.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, August 16th. One research analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $80.96.

Walmart Price Performance

NYSE:WMT traded down $0.06 during trading hours on Friday, hitting $79.86. 5,920,010 shares of the stock traded hands, compared to its average volume of 17,429,305. The company has a market cap of $641.93 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 4.04 and a beta of 0.51. Walmart has a 1 year low of $49.85 and a 1 year high of $81.60. The stock has a 50 day moving average price of $74.26 and a 200 day moving average price of $67.35. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT - Get Free Report) last released its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion for the quarter, compared to analysts' expectations of $168.56 billion. During the same quarter in the previous year, the company earned $0.61 EPS. Walmart's revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Walmart will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Walmart

In related news, EVP John D. Rainey sold 25,578 shares of the company's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $67.58, for a total transaction of $1,728,561.24. Following the transaction, the executive vice president now directly owns 390,165 shares of the company's stock, valued at approximately $26,367,350.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the firm's stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.61, for a total value of $2,056,445.64. Following the completion of the transaction, the chief executive officer now owns 3,931,301 shares of the company's stock, valued at $277,589,163.61. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John D. Rainey sold 25,578 shares of the company's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $67.58, for a total value of $1,728,561.24. Following the completion of the transaction, the executive vice president now directly owns 390,165 shares in the company, valued at $26,367,350.70. The disclosure for this sale can be found here. Insiders sold a total of 12,317,999 shares of company stock worth $956,341,379 over the last three months. Corporate insiders own 45.58% of the company's stock.

Institutional Trading of Walmart

Several large investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Walmart during the 1st quarter valued at approximately $25,000. Northwest Capital Management Inc lifted its position in Walmart by 199.3% during the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer's stock valued at $26,000 after purchasing an additional 293 shares during the period. TruNorth Capital Management LLC boosted its holdings in Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer's stock valued at $29,000 after purchasing an additional 249 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in Walmart in the second quarter valued at $29,000. Finally, Able Wealth Management LLC acquired a new stake in Walmart during the 4th quarter worth about $30,000. Hedge funds and other institutional investors 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.

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