TD Cowen raises price target for Walmart (NYSE:WMT) to $85.00

Walmart (NYSE:WMT – Get Free Report) The price target was raised by equity analysts at TD Cowen from $80.00 to $85.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the retailer’s stock. TD Cowen’s price target would imply a potential upside of 15.72% from the stock’s current price.

A number of other analysts have also recently commented on WMT. Roth Mkm raised their price target on shares of Walmart from $71.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial raised their price target on shares of Walmart from $60.00 to $64.00 and gave the company a “hold” rating in a report on Friday, May 17. Tigress Financial raised their price target on Walmart from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23. StockNews.com downgraded Walmart from “strong buy” to “buy” in a research note on Saturday, July 27. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $80.00 price target on shares of Walmart in a research note on Friday. Three research analysts have rated the stock with a “hold,” 26 have given a “buy” recommendation and one has given the company’s stock a “strong buy” recommendation. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.79.

Read our latest Walmart stock report

Walmart price history

WMT shares opened at $73.45 on Friday. The company has a 50-day moving average of $68.86 and a 200-day moving average of $63.37. The company has a market cap of $590.80 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 3.95 and a beta of 0.50. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48. Walmart has a twelve-month low of $49.85 and a twelve-month high of $74.44.

Walmart (NYSE:WMT – Get Free Report) last announced its earnings results on Thursday, August 15. The retailer reported earnings per share of $0.67 for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company posted revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same period last year, the company posted earnings per share of $0.61. The company’s revenue for the quarter increased 4.7% year-over-year. As a group, analysts forecast that Walmart will report earnings per share of $2.43 for the current fiscal year.

Insider transactions at Walmart

In related news, Director Timothy Patrick Flynn sold 30,000 shares of Walmart stock on Tuesday, May 21. The shares were sold at an average price of $64.82, for a total value of $1,944,600.00. Following the sale, the director now owns 144,807 shares of the company’s stock, valued at approximately $9,386,389.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Timothy Patrick Flynn sold 30,000 shares of Walmart stock on Tuesday, May 21. The shares were sold at an average price of $64.82, for a total value of $1,944,600.00. Following the completion of the transaction, the director now owns 144,807 shares of the company’s stock, valued at approximately $9,386,389.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC’s website. Also, EVP Daniel J. Bartlett sold 2,398 shares of Walmart stock in a transaction dated Monday, July 15. The shares were sold at an average price of $69.50, for a total value of $166,661.00. Following the completion of the sale, the executive vice president now owns 463,871 shares of the company’s stock, valued at $32,239,034.50. The disclosure regarding this sale can be found here. Insiders sold a total of 11,000,613 shares of the company’s stock in the last three months, valued at $725,932,010. 45.58% of the shares are currently owned by company insiders.

Institutional inflows and outflows

Hedge funds and other institutional investors have recently added to or reduced their holdings in the company. AHL Investment Management Inc. increased its holdings in shares of Walmart by 192.1% in the 1st quarter. AHL Investment Management Inc. now owns 24,000 shares of the retailer’s stock worth $1,444,000 after buying an additional 15,785 shares in the last quarter. Valley Brook Capital Group Inc. increased its holdings in Walmart by 4.2% in the fourth quarter. Valley Brook Capital Group Inc. now owns 7,816 shares of the retailer’s stock worth $1,232,000 after buying an additional 315 shares in the last quarter. Core Wealth Advisors Inc. increased its holdings in Walmart by 38.9% in the 4th quarter. Core Wealth Advisors Inc. now owns 1,501 shares of the retailer’s stock worth $237,000 after buying an additional 420 shares in the last quarter. Liberty Wealth Management LLC acquired a new stake in shares of Walmart in the 1st quarter valued at $270,000. Finally, Commerce Bank increased its stake in shares of Walmart by 189.4% in the 1st quarter. Commerce Bank now owns 917,625 shares of the retailer’s stock valued at $55,213,000 after acquiring an additional 600,521 shares during the period. Hedge funds and other institutional investors own 26.76% of the company’s stock.

About Walmart

(Get free report)

Walmart Inc. operates retail, wholesale, other business and e-commerce businesses worldwide. The company operates through three segments: Walmart US, Walmart International and Sam’s Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash-and-carry stores and discount stores under the Walmart and Walmart Neighborhood Market brands; members-only warehouse clubs; e-commerce websites such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other websites; and mobile commerce applications.