Evercore ISI Increases Walmart (NYSE:WMT) Price Target to $73.00

Walmart (NYSE:WMTFree Report) had its target price hoisted by Evercore ISI from $72.00 to $73.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the retailer’s stock.

Several other equities research analysts have also commented on WMT. Bank of America upped their price objective on Walmart from $67.00 to $75.00 and gave the stock a buy rating in a research note on Friday, May 17th. DA Davidson upped their price objective on Walmart from $69.00 to $75.00 and gave the stock a buy rating in a research note on Friday, May 17th. Jefferies Financial Group increased their price target on Walmart from $75.00 to $77.00 and gave the stock a buy rating in a research note on Monday, June 10th. HSBC increased their price target on Walmart from $70.00 to $81.00 and gave the stock a buy rating in a research note on Tuesday, June 11th. Finally, Telsey Advisory Group increased their price target on Walmart from $70.00 to $75.00 and gave the stock an outperform rating in a research note on Monday, June 10th. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $69.97.

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Walmart Price Performance

NYSE WMT opened at $67.91 on Thursday. 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 market capitalization of $546.24 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 3.92 and a beta of 0.52. Walmart has a 1-year low of $49.85 and a 1-year high of $68.55. The business’s fifty day moving average price is $63.23 and its 200-day moving average price is $58.80.

Walmart (NYSE:WMTGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $161.50 billion during the quarter, compared to analyst estimates of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. Walmart’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. On average, equities analysts predict that Walmart will post 2.42 earnings per share for the current year.

Insider Activity at Walmart

In related news, EVP John R. Furner sold 13,125 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $60.81, for a total value of $798,131.25. Following the completion of the transaction, the executive vice president now owns 645,517 shares of the company’s stock, valued at approximately $39,253,888.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Walmart news, major shareholder S Robson Walton sold 1,244,347 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $66.63, for a total value of $82,910,840.61. Following the completion of the sale, the insider now owns 633,518,311 shares of the company’s stock, valued at $42,211,325,061.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $60.81, for a total transaction of $798,131.25. Following the completion of the sale, the executive vice president now directly owns 645,517 shares of the company’s stock, valued at approximately $39,253,888.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,493,971 shares of company stock valued at $950,549,592. Insiders own 45.58% of the company’s stock.

Institutional Trading of Walmart

Several institutional investors and hedge funds have recently modified their holdings of the stock. Seven Mile Advisory raised its stake in shares of Walmart by 1.6% during the third quarter. Seven Mile Advisory now owns 3,953 shares of the retailer’s stock valued at $632,000 after acquiring an additional 61 shares in the last quarter. Flynn Zito Capital Management LLC increased its holdings in Walmart by 3.9% during the fourth quarter. Flynn Zito Capital Management LLC now owns 1,636 shares of the retailer’s stock valued at $258,000 after buying an additional 61 shares during the period. ICW Investment Advisors LLC increased its holdings in Walmart by 0.4% during the fourth quarter. ICW Investment Advisors LLC now owns 15,451 shares of the retailer’s stock valued at $2,436,000 after buying an additional 62 shares during the period. Bill Few Associates Inc. increased its holdings in Walmart by 1.1% during the fourth quarter. Bill Few Associates Inc. now owns 5,806 shares of the retailer’s stock valued at $915,000 after buying an additional 64 shares during the period. Finally, Gateway Advisory LLC increased its holdings in Walmart by 4.1% during the third quarter. Gateway Advisory LLC now owns 1,643 shares of the retailer’s stock valued at $263,000 after buying an additional 65 shares during the period. Institutional investors own 26.76% of the company’s stock.

Walmart Company Profile

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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.

Further Reading

Analyst Recommendations for Walmart (NYSE:WMT)

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