Walmart (NYSE:WMT) Lifted to Buy at Truist Financial

Truist Financial upgraded shares of Walmart (NYSE:WMT) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. Truist Financial currently has $89.00 price objective on the retailer’s stock, up from their prior price objective of $76.00.

Other analysts have also recently issued research reports about the stock. Piper Sandler restated an overweight rating and set a $83.00 target price (up previously from $81.00) on shares of Walmart in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on shares of Walmart from $81.00 to $83.00 and gave the stock an overweight rating in a research report on Friday, August 16th. The Goldman Sachs Group upped their target price on Walmart from $73.00 to $81.00 and gave the company a buy rating in a research report on Friday, August 16th. KeyCorp lifted their price target on Walmart from $75.00 to $82.00 and gave the stock an overweight rating in a report on Wednesday, July 17th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $80.00 price objective on shares of Walmart in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Buy and an average price target of $80.19.

Walmart Price Performance

NYSE:WMT opened at $79.91 on Tuesday. Walmart has a 12-month low of $49.85 and a 12-month high of $81.60. The firm has a market capitalization of $642.34 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 4.04 and a beta of 0.51. The stock’s 50 day moving average price is $74.07 and its two-hundred day moving average price is $67.26. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last posted its earnings results on Thursday, August 15th. The retailer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The business had revenue of $169.30 billion for the quarter, compared to analyst estimates of $168.56 billion. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Walmart will post 2.44 earnings per share for the current year.

Insider Transactions at Walmart

In related news, EVP Daniel J. Bartlett sold 2,063 shares of Walmart stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.76, for a total transaction of $166,607.88. Following the sale, the executive vice president now directly owns 459,558 shares of the company’s stock, valued at approximately $37,113,904.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder S Robson Walton sold 359,616 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $78.25, for a total value of $28,139,952.00. Following the completion of the transaction, the insider now directly owns 603,989,702 shares in the company, valued at approximately $47,262,194,181.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel J. Bartlett sold 2,063 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.76, for a total value of $166,607.88. Following the sale, the executive vice president now owns 459,558 shares in the company, valued at approximately $37,113,904.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,317,999 shares of company stock valued at $956,341,379. 45.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Walmart

Large investors have recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Walmart during the 1st quarter worth approximately $25,000. Northwest Capital Management Inc lifted its holdings in shares of Walmart by 199.3% during the first quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after purchasing an additional 293 shares during the period. TruNorth Capital Management LLC lifted its holdings in shares of Walmart by 138.3% during the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock worth $29,000 after purchasing an additional 249 shares during the period. Cultivar Capital Inc. bought a new stake in shares of Walmart in the second quarter worth $29,000. Finally, Able Wealth Management LLC acquired a new stake in Walmart in the fourth quarter valued at $30,000. 26.76% of the stock is currently owned by institutional investors.

Walmart Company Profile

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.