Walmart (NYSE:WMT) Price Target Increased to $175.00 by Analysts at Cowen

Walmart (NYSE:WMTGet Rating) had its price objective increased by Cowen from $165.00 to $175.00 in a report issued on Wednesday morning, The Fly reports.

WMT has been the topic of several other research reports. Jefferies Financial Group increased their target price on Walmart from $161.00 to $165.00 and gave the stock a buy rating in a research note on Tuesday, October 18th. Piper Sandler started coverage on Walmart in a research note on Wednesday, August 3rd. They set a neutral rating and a $135.00 target price on the stock. TheStreet raised Walmart from a c+ rating to a b rating in a research note on Thursday, September 29th. Erste Group Bank raised Walmart from a hold rating to a buy rating in a research note on Wednesday, October 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Walmart from $162.00 to $161.00 in a research note on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $160.14.

Walmart Stock Performance

Shares of Walmart stock opened at $150.23 on Wednesday. Walmart has a 52 week low of $117.27 and a 52 week high of $160.77. The business’s fifty day simple moving average is $136.74 and its 200-day simple moving average is $132.27. The firm has a market cap of $407.76 billion, a PE ratio of 46.37, a price-to-earnings-growth ratio of 4.50 and a beta of 0.52. The company has a quick ratio of 0.24, a current ratio of 0.86 and a debt-to-equity ratio of 0.48.

Walmart (NYSE:WMTGet Rating) last announced its quarterly earnings results on Tuesday, November 15th. The retailer reported $1.50 EPS for the quarter, beating the consensus estimate of $1.32 by $0.18. Walmart had a return on equity of 19.54% and a net margin of 1.49%. The business had revenue of $152.80 billion for the quarter, compared to analyst estimates of $146.80 billion. During the same quarter in the prior year, the company posted $1.45 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Walmart will post 6.08 earnings per share for the current year.

Walmart declared that its board has approved a share repurchase plan on Tuesday, November 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the retailer to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Walmart news, SVP David Chojnowski sold 7,000 shares of Walmart stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $149.89, for a total value of $1,049,230.00. Following the transaction, the senior vice president now directly owns 37,921 shares in the company, valued at approximately $5,683,978.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP David Chojnowski sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $149.89, for a total value of $1,049,230.00. Following the completion of the sale, the senior vice president now directly owns 37,921 shares of the company’s stock, valued at approximately $5,683,978.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Judith J. Mckenna sold 20,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $148.35, for a total value of $3,011,505.00. Following the completion of the sale, the executive vice president now directly owns 281,816 shares of the company’s stock, valued at $41,807,403.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,398,363 shares of company stock worth $643,252,431. 47.06% of the stock is currently owned by insiders.

Institutional Trading of Walmart

Hedge funds have recently modified their holdings of the business. Cordant Inc. acquired a new stake in shares of Walmart in the 1st quarter valued at approximately $25,000. Bellwether Advisors LLC lifted its holdings in shares of Walmart by 112.0% in the 3rd quarter. Bellwether Advisors LLC now owns 212 shares of the retailer’s stock valued at $27,000 after buying an additional 112 shares during the period. Ulland Investment Advisors LLC lifted its holdings in shares of Walmart by 442.9% in the 1st quarter. Ulland Investment Advisors LLC now owns 190 shares of the retailer’s stock valued at $28,000 after buying an additional 155 shares during the period. Swaine & Leidel Wealth Services LLC acquired a new position in Walmart during the first quarter worth $28,000. Finally, WD Rutherford LLC acquired a new position in Walmart during the second quarter worth $29,000. 31.26% of the stock is owned by institutional investors and hedge funds.

Walmart Company Profile

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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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