Walmart (NYSE:WMT) Trading 0.1% Higher Following Earnings Beat

Walmart Inc. (NYSE:WMT - Get Free Report)'s stock price traded up 0.1% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $87.09 and last traded at $86.72. 5,598,800 shares traded hands during trading, a decline of 67% from the average session volume of 16,784,646 shares. The stock had previously closed at $86.60.

The retailer reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company's revenue was up 5.5% on a year-over-year basis.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Walmart from $66.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday, August 16th. Melius Research initiated coverage on Walmart in a report on Monday, September 23rd. They issued a "buy" rating and a $95.00 target price on the stock. Redburn Atlantic raised shares of Walmart to a "strong-buy" rating in a research note on Monday, September 23rd. Truist Financial boosted their target price on Walmart from $89.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Oppenheimer boosted their price target on Walmart from $81.00 to $90.00 and gave the company an "outperform" rating in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $91.51.

Insider Buying and Selling at Walmart

In other news, EVP John D. Rainey sold 3,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total transaction of $232,440.00. Following the completion of the transaction, the executive vice president now directly owns 384,165 shares in the company, valued at $29,765,104.20. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the sale, the insider now directly owns 630,501,148 shares in the company, valued at $48,781,873,820.76. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,337,337 shares of company stock worth $958,823,647 in the last three months. 45.58% of the stock is owned by corporate insiders.

Institutional Trading of Walmart

Several hedge funds have recently added to or reduced their stakes in the company. WFA Asset Management Corp grew its position in Walmart by 201.0% during the 1st quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer's stock worth $126,000 after purchasing an additional 1,397 shares during the last quarter. Dupont Capital Management Corp grew its holdings in Walmart by 165.4% during the 1st quarter. Dupont Capital Management Corp now owns 270,147 shares of the retailer's stock valued at $16,255,000 after buying an additional 168,346 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Walmart by 307.1% during the 1st quarter. Empowered Funds LLC now owns 160,292 shares of the retailer's stock worth $9,645,000 after purchasing an additional 120,919 shares during the last quarter. Rockport Wealth LLC purchased a new stake in Walmart in the 1st quarter worth approximately $226,000. Finally, Alerus Financial NA increased its stake in Walmart by 203.4% in the first quarter. Alerus Financial NA now owns 82,062 shares of the retailer's stock valued at $4,938,000 after purchasing an additional 55,012 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company's stock.

Walmart Stock Performance

The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. The company has a market cap of $700.77 billion, a price-to-earnings ratio of 45.33, a P/E/G ratio of 4.19 and a beta of 0.51. The stock's 50 day moving average price is $81.75 and its 200 day moving average price is $73.43.

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.