Walmart (NYSE:WMT) price target raised to $76.00 at Truist Financial

Walmart (NYSE:WMT – Get Free Report) The price target was raised by investment analysts at Truist Financial from $64.00 to $76.00 in a report published Friday, Benzinga reports. The firm currently has a “hold” rating on the retailer’s stock. Truist Financial’s price target would imply a potential upside of 3.47% from the stock’s current price.

A number of other brokerages have also commented on WMT. StockNews.com downgraded Walmart from a “strong buy” rating to a “buy” rating in a research report on Saturday, July 27. HSBC increased their price target on shares of Walmart from $70.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11. KeyCorp increased their price target on shares of Walmart from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17. Wells Fargo & Company increased their price target on shares of Walmart from $75.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a price target of $80.00 on Walmart shares in a report on Friday. Three equities analysts have rated the stock a “hold,” 26 have rated it a “buy,” and one has given it a “strong buy.” According to MarketBeat.com, the stock currently has an average rating of “moderate buy” and a consensus price target of $77.79.

Get our latest stock analysis on WMT

Walmart shares rise 0.7%

NYSE:WMT opened at $73.45 on Friday. The stock has a 50-day moving average of $68.86 and a 200-day moving average of $63.37. The company has a liquidity ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48. The company has a market capitalization 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. 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 quarterly earnings results on Thursday, August 15. The retailer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The company’s revenue for the quarter increased 4.7% year-over-year. In the same quarter last year, the company reported earnings per share of $0.61. Analysts expect Walmart to report earnings per share of $2.43 for the current year.

Insider transactions at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, May 23. The shares were sold at an average price of $65.23, for a total transaction of $1,899,758.52. Following the completion of the sale, the CEO now directly owns 3,989,526 shares of the company’s stock, valued at approximately $260,236,780.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, May 23. The shares were sold at an average price of $65.23, for a total transaction of $1,899,758.52. Following the sale, the CEO now directly owns 3,989,526 shares of the company’s stock, valued at approximately $260,236,780.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, major shareholder Alice L. Walton sold 1,132,123 shares of the company’s stock in a transaction dated Thursday, May 23. The shares were sold at an average price of $65.02, for a total value of $73,610,637.46. Following the completion of the transaction, the insider now directly owns 647,371,888 shares of the company’s stock, valued at approximately $42,092,120,157.76. 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 over the last three months. 45.58% of the shares are currently owned by insiders.

Institutional investors comment on Walmart

Hedge funds and other institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in Walmart in the first quarter valued at $25,000. Northwest Capital Management Inc. increased its holdings in shares of Walmart by 199.3% in the first 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 holdings in shares of Walmart by 138.3% in the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after acquiring an additional 249 shares during the same period. Cultivar Capital Inc. acquired a new stake in shares of Walmart in the second quarter valued at about $29,000. Finally, Partnership Wealth Management LLC acquired a new stake in shares of Walmart in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 26.76% of the company’s shares.

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.