Truist Financial Boosts Walmart (NYSE:WMT) Price Target to $111.00

Walmart (NYSE:WMT) had its price objective raised by Truist Financial from $98.00 to $111.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the retailer’s stock.

Several other research firms have also recently weighed in on WMT. JPMorgan Chase & Co. upped their price objective on shares of Walmart from $97.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday. Roth Mkm increased their price target on shares of Walmart from $81.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Morgan Stanley lifted their price objective on shares of Walmart from $100.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. StockNews.com cut Walmart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Bank of America lifted their price target on Walmart from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.85.

Walmart Stock Performance

Shares of WMT opened at $105.10 on Tuesday. Walmart has a 52-week low of $55.85 and a 52-week high of $105.24. The stock’s 50-day simple moving average is $94.63 and its 200 day simple moving average is $84.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.85. The stock has a market capitalization of $844.29 billion, a price-to-earnings ratio of 43.13, a price-to-earnings-growth ratio of 4.25 and a beta of 0.55.

Walmart (NYSE:WMT) last posted its earnings results on Tuesday, November 19th. 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 2.92% and a return on equity of 21.78%. The business had revenue of $169.59 billion for the quarter, compared to analyst estimates of $167.69 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. Walmart’s revenue was up 5.5% on a year-over-year basis. Research analysts forecast that Walmart will post 2.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 38,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $98.80, for a total value of $3,754,400.00. Following the completion of the transaction, the executive vice president now directly owns 257,281 shares of the company’s stock, valued at approximately $25,419,362.80. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.44, for a total transaction of $2,663,098.56. Following the completion of the transaction, the chief executive officer now directly owns 3,814,805 shares of the company’s stock, valued at $348,825,769.20. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,177 shares of company stock worth $16,403,728 in the last three months. 45.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WMT. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Walmart by 1.7% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,937 shares of the retailer’s stock worth $538,000 after purchasing an additional 98 shares during the last quarter. Coyle Financial Counsel LLC raised its position in Walmart by 3.1% during the 4th quarter. Coyle Financial Counsel LLC now owns 3,431 shares of the retailer’s stock valued at $310,000 after purchasing an additional 102 shares in the last quarter. SC&H Financial Advisors Inc. lifted its holdings in shares of Walmart by 1.0% in the 4th quarter. SC&H Financial Advisors Inc. now owns 10,232 shares of the retailer’s stock worth $924,000 after buying an additional 103 shares during the period. Blackston Financial Advisory Group LLC grew its position in shares of Walmart by 0.7% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 15,685 shares of the retailer’s stock worth $1,417,000 after buying an additional 106 shares in the last quarter. Finally, Van Strum & Towne Inc. increased its stake in shares of Walmart by 1.6% during the fourth quarter. Van Strum & Towne Inc. now owns 6,849 shares of the retailer’s stock valued at $619,000 after buying an additional 108 shares during the period. Institutional investors 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.