Truist Financial Increases Walmart (NYSE:WMT) Price Target to $150.00

Walmart (NYSE:WMTGet Rating) had its price target lifted by Truist Financial from $134.00 to $150.00 in a report released on Wednesday, The Fly reports. Truist Financial currently has a hold rating on the retailer’s stock.

WMT has been the topic of several other reports. KeyCorp boosted their price target on Walmart from $155.00 to $165.00 and gave the company an overweight rating in a research note on Wednesday. Bank of America boosted their price target on Walmart from $155.00 to $165.00 and gave the company a buy rating in a research note on Wednesday. DA Davidson boosted their price target on Walmart from $163.00 to $173.00 and gave the company a buy rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on Walmart from $130.00 to $155.00 in a research note on Tuesday, August 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Walmart from $162.00 to $161.00 in a research note on Friday, November 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $160.14.

Walmart Price Performance

Shares of WMT opened at $150.23 on Wednesday. Walmart has a 1 year low of $117.27 and a 1 year high of $160.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.86 and a quick ratio of 0.24. The company has a market capitalization of $407.76 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 4.50 and a beta of 0.52. The business has a 50-day moving average of $136.74 and a 200-day moving average of $132.27.

Walmart (NYSE:WMTGet Rating) last issued its quarterly earnings data on Tuesday, November 15th. The retailer reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.18. Walmart had a return on equity of 19.54% and a net margin of 1.49%. The company had revenue of $152.80 billion during the quarter, compared to the consensus estimate of $146.80 billion. During the same period last year, the company earned $1.45 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Walmart will post 6.08 earnings per share for the current year.

Walmart declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, major shareholder Jim C. Walton sold 141,150 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $135.72, for a total transaction of $19,156,878.00. Following the transaction, the insider now owns 282,859,674 shares of the company’s stock, valued at approximately $38,389,714,955.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP David Chojnowski sold 7,000 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $149.89, for a total transaction of $1,049,230.00. Following the sale, the senior vice president now owns 37,921 shares of the company’s stock, valued at approximately $5,683,978.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jim C. Walton sold 141,150 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $135.72, for a total value of $19,156,878.00. Following the sale, the insider now directly owns 282,859,674 shares in the company, valued at approximately $38,389,714,955.28. The disclosure for this sale can be found here. Insiders have sold 4,398,363 shares of company stock valued at $643,252,431 in the last 90 days. Insiders own 47.06% of the company’s stock.

Institutional Trading of Walmart

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Walmart by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 130,176,496 shares of the retailer’s stock worth $16,883,890,000 after purchasing an additional 1,832,388 shares in the last quarter. BlackRock Inc. increased its stake in Walmart by 2.9% in the 3rd quarter. BlackRock Inc. now owns 96,570,711 shares of the retailer’s stock worth $12,525,224,000 after acquiring an additional 2,712,886 shares during the last quarter. State Street Corp increased its stake in Walmart by 1.2% in the 3rd quarter. State Street Corp now owns 60,659,193 shares of the retailer’s stock worth $7,867,497,000 after acquiring an additional 701,415 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Walmart by 7.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 23,919,371 shares of the retailer’s stock worth $2,908,117,000 after acquiring an additional 1,685,320 shares during the last quarter. Finally, GQG Partners LLC increased its stake in Walmart by 48.0% in the 1st quarter. GQG Partners LLC now owns 15,431,684 shares of the retailer’s stock worth $2,297,510,000 after acquiring an additional 5,007,342 shares during the last quarter. Hedge funds and other institutional investors own 31.26% of the company’s stock.

About Walmart

(Get Rating)

Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.

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