Walmart (NYSE:WMT) price target raised to $75.00

Walmart (NYSE:WMT – Get Free Report) The price target was raised by stock analysts at Wells Fargo & Company from $70.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company’s price target would imply a potential upside of 10.85% from the stock’s current price.

A number of other equities analysts have also recently issued reports on WMT. Truist Financial raised their price target on Walmart from $60.00 to $64.00 and gave the company a “hold” rating in a research report on Friday, May 17. Goldman Sachs Group increased their price target on shares of Walmart from $64.33 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 17. StockNews.com downgraded shares of Walmart from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 27. Raymond James increased their price target on Walmart from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 17. Finally, JPMorgan Chase & Co. upgraded Walmart from “neutral” to “overweight” and raised their price target for the stock from $66.00 to $81.00 in a research report on Monday, June 10. Three investment analysts have rated the stock with a “hold” rating and 28 have assigned the company a “buy” rating. Based on data from MarketBeat, the stock currently has a consensus rating of “moderate buy” and an average price target of $72.09.

Check out our latest report on Walmart

Price development of Walmart shares

NYSE:WMT opened at $67.66 on Wednesday. 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 company has a market cap of $544.23 billion, a P/E ratio of 28.91, a PEG ratio of 3.90 and a beta of 0.50. The company has a 50-day moving average of $68.42 and a 200-day moving average of $62.66. Walmart has a 1-year low of $49.85 and a 1-year high of $71.33.

Walmart (NYSE:WMT – Get Free Report) last released its quarterly earnings results on Thursday, May 16. The retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. In the same quarter last year, the company reported earnings per share of $0.49. The company’s revenue for the quarter increased 6.0% compared to the same quarter last year. On average, equities analysts expect that Walmart will report earnings per share of $2.43 for the current year.

Insiders place their bets

In other news, Director S. Robson Walton sold 3,540,250 shares of the company’s stock in a transaction that occurred on Friday, May 17. The shares were sold at an average price of $64.55, for a total transaction of $228,523,137.50. Following the sale, the director now directly owns 648,504,011 shares of the company’s stock, valued at approximately $41,860,933,910.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Walmart news, Director S. Robson Walton sold 3,540,250 shares of the company’s stock in a transaction that occurred on Friday, May 17. The shares were sold at an average price of $64.55, for a total transaction of $228,523,137.50. Following the sale, the director now directly owns 648,504,011 shares of the company’s stock, valued at $41,860,933,910.05. The sale was disclosed in a filing with the Securities & Exchange Commission, available through this link. Also, EVP John D. Rainey sold 3,000 shares of the company’s stock on Thursday, August 1. The shares were sold at an average price of $69.19, for a total value of $207,570.00. Following the completion of the sale, the executive vice president now owns 387,165 shares of the company’s stock, valued at $26,787,946.35. The disclosure regarding this sale can be found here. Insiders have sold 14,540,863 shares of the company’s stock, valued at $954,455,147, during the last quarter. Insiders own 45.58% of the company’s stock.

Institutional inflows and outflows

Several institutional investors and hedge funds have recently bought and sold shares of WMT. Vanguard Group Inc. increased its holdings in Walmart by 199.4% in the 1st quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after acquiring an additional 274,229,968 shares during the same period. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $3,421,342,000 after acquiring an additional 36,625,314 shares during the same period. Norges Bank acquired a new stake in Walmart in the 4th quarter valued at about $3,674,652,000. Bank of New York Mellon Corp increased its stake in Walmart by 183.0% in the 1st quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock worth $1,755,339,000 after purchasing an additional 18,865,484 shares during the same period. Finally, Raymond James & Associates increased its stake in Walmart shares by 212.6% in the 1st quarter. Raymond James & Associates now owns 14,035,473 shares of the retailer’s stock worth $844,514,000 after purchasing an additional 9,544,958 shares during the last quarter. Institutional investors own 26.76% of the company’s stock.

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.