Shares of Walmart Inc. (NYSE:WMT – Get Free Report) were down 6.4% during mid-day trading on Thursday . The stock traded as low as $96.68 and last traded at $97.29. Approximately 29,126,897 shares were traded during trading, an increase of 88% from the average daily volume of 15,524,046 shares. The stock had previously closed at $104.00.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Sanford C. Bernstein increased their target price on Walmart from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Oppenheimer increased their price objective on shares of Walmart from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Citigroup boosted their target price on shares of Walmart from $98.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Telsey Advisory Group upped their target price on shares of Walmart from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, DZ Bank downgraded Walmart from a “buy” rating to a “hold” rating and set a $91.00 price target for the company. in a research note on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.87.
Check Out Our Latest Report on Walmart
Walmart Trading Down 6.4 %
Walmart (NYSE:WMT – Get Free Report) last announced its earnings results on Thursday, February 20th. The retailer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Walmart had a return on equity of 21.78% and a net margin of 2.92%. On average, analysts predict that Walmart Inc. will post 2.48 EPS for the current year.
Walmart Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be given a $0.235 dividend. This is a positive change from Walmart’s previous quarterly dividend of $0.21. This represents a $0.94 annualized dividend and a yield of 0.97%. Walmart’s payout ratio is 34.06%.
Insider Transactions at Walmart
In other news, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $92.00, for a total value of $1,207,500.00. Following the completion of the sale, the executive vice president now owns 579,915 shares of the company’s stock, valued at $53,352,180. This trade represents a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Edward Jr. Moritz purchased 5,446 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average cost of $91.81 per share, for a total transaction of $499,997.26. Following the completion of the transaction, the director now directly owns 7,805 shares of the company’s stock, valued at $716,577.05. This trade represents a 230.86 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 175,177 shares of company stock valued at $16,403,728 over the last three months. Company insiders own 45.58% of the company’s stock.
Hedge Funds Weigh In On Walmart
Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Walmart by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 422,736,888 shares of the retailer’s stock worth $38,194,278,000 after acquiring an additional 2,050,683 shares in the last quarter. Geode Capital Management LLC grew its stake in Walmart by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 90,635,238 shares of the retailer’s stock valued at $8,167,186,000 after buying an additional 3,017,829 shares during the last quarter. Norges Bank acquired a new stake in shares of Walmart in the fourth quarter valued at about $5,737,355,000. FMR LLC increased its stake in shares of Walmart by 12.9% in the third quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock worth $5,098,203,000 after purchasing an additional 7,200,004 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Walmart by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 48,793,045 shares of the retailer’s stock worth $4,408,452,000 after purchasing an additional 1,133,201 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.
About Walmart
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.
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