Walmart (NYSE:WMT) Given New $110.00 Price Target at KeyCorp

Walmart (NYSE:WMT) had its price objective increased by equities research analysts at KeyCorp from $105.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the retailer’s stock. KeyCorp’s price target suggests a potential upside of 13.01% from the company’s current price.

A number of other analysts have also issued reports on the stock. Barclays reiterated an “overweight” rating on shares of Walmart in a research note on Friday, February 28th. Truist Financial lifted their price objective on shares of Walmart from $107.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, May 16th. DZ Bank upgraded shares of Walmart from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday, February 25th. DA Davidson reiterated a “buy” rating and set a $117.00 price objective on shares of Walmart in a research note on Friday, May 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $115.00 price target (up previously from $106.00) on shares of Walmart in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.68.

Walmart Price Performance

Shares of NYSE WMT opened at $97.34 on Monday. The company has a market capitalization of $778.81 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 4.42 and a beta of 0.69. The business has a 50-day moving average of $95.06 and a 200-day moving average of $93.99. Walmart has a 1-year low of $65.90 and a 1-year high of $105.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. On average, equities analysts anticipate that Walmart will post 2.55 EPS for the current fiscal year.

Insider Transactions at Walmart

In related news, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $99.00, for a total value of $217,800.00. Following the sale, the executive vice president now directly owns 630,518 shares in the company, valued at $62,421,282. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathryn J. Mclay sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $85.95, for a total transaction of $343,800.00. Following the completion of the transaction, the executive vice president now owns 888,309 shares of the company’s stock, valued at $76,350,158.55. This represents a 0.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,534 shares of company stock worth $12,833,664. Insiders own 45.58% of the company’s stock.

Hedge Funds Weigh In On Walmart

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Walmart by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 425,961,042 shares of the retailer’s stock valued at $37,395,120,000 after buying an additional 3,224,154 shares in the last quarter. Geode Capital Management LLC grew its position 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 in the last quarter. Norges Bank bought a new position in Walmart in the 4th quarter valued at about $5,737,355,000. Fisher Asset Management LLC grew its position in Walmart by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 48,793,045 shares of the retailer’s stock valued at $4,408,452,000 after buying an additional 1,133,201 shares in the last quarter. Finally, Northern Trust Corp grew its position in Walmart by 8.9% in the 4th quarter. Northern Trust Corp now owns 43,641,936 shares of the retailer’s stock valued at $3,943,049,000 after buying an additional 3,550,037 shares in the last quarter. 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.