Piper Sandler reiterates “Overweight” rating for Walmart (NYSE:WMT)

Walmart (NYSE:WMT – Get Free Report)Shares of were given an “overweight” rating by equity analysts at Piper Sandler in a note to investors on Friday, Benzinga reports. They currently have a price target of $83.00 on the retailer’s stock, which is above their previous price target of $81.00. Piper Sandler’s price target would imply a potential upside of 13.00% from the stock’s last closing price.

Several other research analysts have also commented on WMT. Raymond James raised their price target on shares of Walmart from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Oppenheimer raised their price target on shares of Walmart from $69.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Barclays raised their price target on shares of Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday. KeyCorp raised their price target on shares of Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Roth Mkm raised their price target on Walmart from $71.00 to $81.00 and gave the company a “Buy” rating in a report on Friday. Three equities analysts have rated the stock a “Hold,” 26 have given a “Buy” rating and one has given a “Strong Buy” rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.79.

Read our latest stock analysis on WMT

Walmart trading up 0.7%

WMT shares opened at $73.45 on Friday. Walmart has a 1-year low of $49.85 and a 1-year high of $74.44. The company has a market cap of $590.80 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 3.95 and a beta of 0.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.80 and a quick ratio of 0.23. The stock has a 50-day moving average of $68.86 and a 200-day moving average of $63.37.

Walmart (NYSE:WMT – Get Free Report) released its latest earnings results on Thursday, August 15. The retailer reported earnings per share of $0.67 for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The company had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. During the same period last year, the company generated earnings per share of $0.61. The company’s quarterly revenue grew 4.7% compared to the same quarter last year. On average, equities analysts expect Walmart to report earnings per share of $2.43 for the current fiscal year.

Insider activities at Walmart

In related news, Director Timothy Patrick Flynn sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21. The shares were sold at an average price of $64.82, for a total transaction of $1,944,600.00. Following the sale, the director now owns 144,807 shares of the company’s stock, valued at $9,386,389.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Timothy Patrick Flynn sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21. The shares were sold at an average price of $64.82, for a total transaction of $1,944,600.00. Following the completion of the transaction, the director now directly owns 144,807 shares of the company’s stock, valued at approximately $9,386,389.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, major shareholder Alice L. Walton sold 3,633,800 shares of the company’s stock on Monday, June 10. The shares were sold at an average price of $66.80, for a total value of $242,737,840.00. After the sale, the insider now owns 636,898,811 shares of the company’s stock, valued at $42,544,840,574.80. The disclosure regarding this sale can be found here. Insiders have sold a total of 11,000,613 shares of the company’s stock, valued at $725,932,010, in the last three months. 45.58% of the shares are currently owned by company insiders.

Walmart institutional trading

Several institutional investors and hedge funds have recently changed their holdings in WMT. EntryPoint Capital LLC acquired a new stake in Walmart in the 1st quarter valued at about $25,000. Northwest Capital Management Inc. increased its stake in shares of Walmart by 199.3% in the 1st quarter. Northwest Capital Management Inc. now owns 440 shares of the retailer’s stock valued at $26,000 after acquiring an additional 293 shares in the last quarter. TruNorth Capital Management LLC increased its stake in shares of Walmart by 138.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after acquiring an additional 249 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Walmart in the 2nd quarter valued at $29,000. Finally, Partnership Wealth Management LLC acquired a new stake in shares of Walmart in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 26.76% of the company’s shares.

Walmart Company Profile

(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.

Get daily news and reviews for Walmart – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Walmart and related companies with MarketBeat.com’s FREE daily email newsletter.