Walmart (NYSE:WMT) had its price target increased to $76.00 at Truist Financial

VaselineAugust 17, 2024

0 4 minutes read

The Walmart Inc. logo Walmart (NYSE:WMT – Free Report) boosted their price objective on Truist Financial from $64.00 to $76.00 in a research note on Friday, Benzinga reports. The brokerage currently has a hold rating on the retailer’s stock.

WMT has been the subject of several other reports. Wells Fargo & Company boosted their price objective on shares of Walmart from $75.00 to $81.00 and gave the stock an overweight rating in a report on Friday. BMO Capital Markets reaffirmed an outperform rating and issued a $80.00 target price on shares of Walmart in a report on Friday. Telsey Advisory Group boosted their price objective on Walmart from $75.00 to $82.00 and gave the company an outperform rating in a research note on Friday. Royal Bank of Canada boosted their price objective on Walmart from $74.00 to $80.00 and gave the stock an outperform rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Walmart from $77.00 to $83.00 and gave the company a buy rating in a report on Friday. Three research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Moderate Buy and an average target price of $77.79, according to MarketBeat data.

Get our latest analysis on WMT

Walmart inventory performance

Want more great investment ideas?

Shares of WMT stock opened at $73.45 on Friday. Walmart has a 1 year low of $49.85 and a 1 year high of $74.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.80, and a quick ratio of 0.23. The stock’s fifty day moving average price is $68.86 and its two hundred day moving average price is $63.32. The firm has a market cap of $590.80 billion, a PE ratio of 31.43, a PEG ratio of 3.95 and a beta of 0.50.

Walmart (NYSE:WMT – Get Your Free Report ) last announced its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted EPS of $0.61. On average, equities research analysts forecast that Walmart will post 2.43 EPS for the current year.

Insider transactions at Walmart

In related news, EVP Daniel J. Bartlett sold 2,398 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $69.50, for a total transaction of $166,661.00. Following the transaction, the executive vice president now owns 463,871 shares of the company’s stock, valued at approximately $32,239,034.50. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In related news, EVP Daniel J. Bartlett sold 2,398 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $69.50, for a total transaction of $166,661.00. Following the completion of the sale, the executive vice president now directly owns 463,871 shares in the company, valued at approximately $32,239,034.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alice L. Walton sold 3,633,800 shares of Walmart stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $66.80, for a total value of $242,737,840.00. Following the completion of the transaction, the insider now directly owns 636,898,811 shares in the company, valued at $42,544,840,574.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,000,613 shares of company stock worth $725,932,010. 45.58% of shares are currently owned by insiders.

Institutional investors are weighing in on Walmart

Several institutional investors have recently added to or reduced their stakes in WMT. ICW Investment Advisors LLC boosted its holdings in shares of Walmart by 0.4% during the fourth quarter. ICW Investment Advisors LLC now owns 15,451 shares of the retailer’s stock worth $2,436,000 after purchasing an additional 62 shares during the period. Rossmore Private Capital raised its position in Walmart by 0.3% in the 4th quarter. Rossmore Private Capital now owns 20,504 shares of the retailer’s stock valued at $3,232,000 after buying an additional 65 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Walmart by 0.3% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 21,377 shares of the retailer’s stock worth $3,370,000 after purchasing an additional 65 shares during the period. Landmark Financial Advisors LLC increased its position in shares of Walmart by 1.0% in the 4th quarter. Landmark Financial Advisors LLC now owns 7,055 shares of the retailer’s stock worth $1,112,000 after purchasing an additional 70 shares in the last quarter. Finally, Kelman Lazarov Inc. raised its stake in shares of Walmart by 1.9% during the fourth quarter. Kelman Lazarov Inc. now owns 3,928 shares of the retailer’s stock valued at $619,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 26.76% of the company’s shares.

Walmart Company Profile

(Get a free report)

Walmart Inc engages in retail, wholesale, other facilities and e-commerce operations worldwide. The company operates through three segments: Walmart US, Walmart International and Sam’s Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores and discount stores under the Walmart and Walmart Neighborhood Market brands; members-only deposit clubs; e-commerce sites such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.