Walmart (NYSE:WMT) Sets New 12-Month High on Earnings Beat

Walmart Inc. (NYSE:WMT) hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $87.62 and last traded at $86.92, with a volume of 4335722 shares trading hands. The stock had previously closed at $84.08.

The retailer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $169.59 billion for the quarter, compared to analyst estimates of $167.69 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. Walmart’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WMT shares. Telsey Advisory Group restated an “outperform” rating and set a $92.00 price objective on shares of Walmart in a report on Wednesday, November 13th. StockNews.com upgraded Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Oppenheimer raised their target price on Walmart from $81.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America raised their price objective on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, UBS Group lifted their price objective on shares of Walmart from $81.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $86.71.

Insider Buying and Selling

In other Walmart news, major shareholder Alice L. Walton sold 2,709,163 shares of the business’s 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 completion of the sale, the insider now owns 630,501,148 shares of the company’s stock, valued at approximately $48,781,873,820.76. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in Walmart by 181.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after buying an additional 36,625,314 shares during the period. Jennison Associates LLC lifted its stake in Walmart by 479.6% in the third quarter. Jennison Associates LLC now owns 18,479,259 shares of the retailer’s stock worth $1,492,200,000 after acquiring an additional 15,290,936 shares during the period. Canada Pension Plan Investment Board lifted its position in Walmart by 284.0% during the first quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock valued at $669,227,000 after acquiring an additional 8,225,552 shares during the last quarter. FMR LLC lifted its holdings in shares of Walmart by 12.9% during the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock valued at $5,098,203,000 after purchasing an additional 7,200,004 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Walmart by 8,814.4% in the 3rd quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock worth $562,280,000 after purchasing an additional 6,885,106 shares in the last quarter. Institutional investors own 26.76% of the company’s stock.

Walmart Trading Up 3.2 %

The company has a 50 day moving average of $81.43 and a two-hundred day moving average of $73.15. 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 has a market capitalization of $697.80 billion, a PE ratio of 43.80, a P/E/G ratio of 4.20 and a beta of 0.51.

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.