Walmart (NYSE:WMT) Price Target Raised to $98.00 at Truist Financial

Walmart (NYSE:WMT - Get Free Report) had its target price upped by stock analysts at Truist Financial from $89.00 to $98.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the retailer's stock. Truist Financial's target price indicates a potential upside of 12.58% from the stock's current price.

WMT has been the topic of several other research reports. BMO Capital Markets lifted their price target on Walmart from $80.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday. Bank of America boosted their price objective on Walmart from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday. Tigress Financial boosted their price objective on Walmart from $75.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein boosted their price objective on Walmart from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Walmart from $77.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Walmart has an average rating of "Buy" and an average target price of $90.44.

Walmart Stock Up 0.5 %

WMT traded up $0.45 on Wednesday, hitting $87.05. 8,940,451 shares of the company were exchanged, compared to its average volume of 16,800,471. Walmart has a 12 month low of $49.85 and a 12 month high of $88.29. The company has a market cap of $699.73 billion, a PE ratio of 45.17, a PEG ratio of 4.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. The stock's fifty day moving average is $81.58 and its 200-day moving average is $73.34.

Walmart (NYSE:WMT - Get Free Report) last released its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $167.69 billion. During the same period last year, the firm posted $0.51 EPS. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts predict that Walmart will post 2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Alice L. Walton sold 2,375,563 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.96, for a total value of $182,823,328.48. Following the completion of the sale, the insider now owns 619,646,544 shares of the company's stock, valued at approximately $47,687,998,026.24. This represents a 0.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Furner sold 13,125 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 593,040 shares of the company's stock, valued at $49,198,598.40. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,337,337 shares of company stock worth $958,823,647 in the last three months. Corporate insiders own 45.58% of the company's stock.

Institutional Trading of Walmart

A number of hedge funds and other institutional investors have recently made changes to their positions in WMT. EntryPoint Capital LLC acquired a new stake in Walmart during the first quarter valued at $25,000. Peterson Financial Group Inc. purchased a new position in shares of Walmart in the third quarter worth about $26,000. TruNorth Capital Management LLC boosted its holdings in Walmart by 138.3% in the 2nd 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. acquired a new position in Walmart in the 2nd quarter valued at about $29,000. Finally, FSA Wealth Management LLC boosted its holdings in Walmart by 253.0% in the 1st quarter. FSA Wealth Management LLC now owns 526 shares of the retailer's stock valued at $32,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company's stock.

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.

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