Truist Financial Raises Walmart (NYSE:WMT) Price Target to $170.00

Walmart (NYSE:WMT) had its price objective upped by investment analysts at Truist Financial from $168.00 to $170.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the retailer’s stock. Truist Financial’s price target would indicate a potential upside of 8.54% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price objective on shares of Walmart in a research note on Wednesday, September 27th. Wells Fargo & Company boosted their price target on Walmart from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. Stephens raised their price objective on Walmart from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday. Telsey Advisory Group reiterated an “outperform” rating and set a $185.00 target price on shares of Walmart in a research report on Friday. Finally, KeyCorp raised their price target on Walmart from $175.00 to $177.00 and gave the company an “overweight” rating in a research report on Friday, August 18th. Four investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Walmart Stock Performance

NYSE WMT traded up $0.59 on Friday, hitting $156.63. 6,879,745 shares of the company’s stock were exchanged, compared to its average volume of 5,953,847. The firm has a market cap of $421.58 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 3.50 and a beta of 0.53. The firm’s 50-day moving average price is $162.38 and its two-hundred day moving average price is $157.75. Walmart has a fifty-two week low of $136.09 and a fifty-two week high of $169.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.26.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Thursday, November 16th. The retailer reported $1.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.53. Walmart had a return on equity of 21.47% and a net margin of 2.23%. The firm had revenue of $160.80 billion for the quarter, compared to analyst estimates of $159.65 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. Walmart’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Walmart will post 6.46 EPS for the current year.

Insider Buying and Selling

In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $162.40, for a total value of $1,576,579.20. Following the completion of the sale, the chief executive officer now owns 1,461,509 shares of the company’s stock, valued at $237,349,061.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP John R. Furner sold 4,375 shares of Walmart stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $162.00, for a total value of $708,750.00. Following the completion of the transaction, the executive vice president now directly owns 269,119 shares in the company, valued at $43,597,278. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $162.40, for a total value of $1,576,579.20. Following the completion of the transaction, the chief executive officer now owns 1,461,509 shares of the company’s stock, valued at approximately $237,349,061.60. The disclosure for this sale can be found here. In the last three months, insiders sold 31,166 shares of company stock valued at $5,066,701. Company insiders own 46.51% of the company’s stock.

Institutional Investors Weigh In On Walmart

A number of institutional investors have recently modified their holdings of the business. Seven Mile Advisory raised its position in Walmart by 1.6% in the third quarter. Seven Mile Advisory now owns 3,953 shares of the retailer’s stock valued at $632,000 after purchasing an additional 61 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Walmart by 1.0% in the second quarter. Strategic Financial Concepts LLC now owns 6,074 shares of the retailer’s stock worth $955,000 after purchasing an additional 62 shares during the last quarter. Avaii Wealth Management LLC raised its position in Walmart by 3.4% during the 3rd quarter. Avaii Wealth Management LLC now owns 1,908 shares of the retailer’s stock worth $305,000 after purchasing an additional 63 shares during the last quarter. Signature Wealth Management Group lifted its holdings in Walmart by 1.9% during the 2nd quarter. Signature Wealth Management Group now owns 3,436 shares of the retailer’s stock worth $540,000 after buying an additional 65 shares during the period. Finally, Carmel Capital Partners LLC grew its position in shares of Walmart by 3.7% in the 2nd quarter. Carmel Capital Partners LLC now owns 1,818 shares of the retailer’s stock valued at $286,000 after buying an additional 65 shares during the last quarter. Institutional investors own 33.18% of the company’s stock.

About Walmart

Walmart Inc engages in the operation of retail, wholesale, and other units 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, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.