Walmart (NYSE:WMT) Price Target Raised to $80.00 at Royal Bank of Canada

Walmart (NYSE:WMT) had its target price increased by Royal Bank of Canada from $74.00 to $80.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the retailer’s stock.

A number of other research analysts have also commented on the stock. Tigress Financial lifted their price objective on shares of Walmart from $75.00 to $86.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Telsey Advisory Group boosted their target price on shares of Walmart from $75.00 to $82.00 and gave the stock an outperform rating in a research report on Friday. HSBC increased their price target on shares of Walmart from $70.00 to $81.00 and gave the company a buy rating in a report on Tuesday, June 11th. Piper Sandler initiated coverage on Walmart in a research note on Wednesday, July 10th. They set an overweight rating and a $81.00 price target on the stock. Finally, UBS Group boosted their target price on Walmart from $63.00 to $69.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. 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. According to data from MarketBeat.com, Walmart presently has a consensus rating of Moderate Buy and a consensus target price of $77.79.

Walmart Stock Performance

Shares of WMT stock traded up $0.48 during mid-day trading on Friday, hitting $73.45. 19,872,144 shares of the stock were exchanged, compared to its average volume of 17,647,650. Walmart has a 12-month low of $49.85 and a 12-month high of $74.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.23 and a current ratio of 0.80. The stock has a market capitalization of $590.80 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 3.95 and a beta of 0.50. The stock’s fifty day simple moving average is $68.86 and its two-hundred day simple moving average is $63.32.

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

Insider Transactions at Walmart

In related news, major shareholder Alice L. Walton sold 3,633,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $66.80, for a total value of $242,737,840.00. Following the transaction, the insider now owns 636,898,811 shares in the company, valued at $42,544,840,574.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Walmart news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $69.19, for a total value of $207,570.00. Following the transaction, the executive vice president now owns 387,165 shares in the company, valued at approximately $26,787,946.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alice L. Walton sold 3,633,800 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $66.80, for a total transaction of $242,737,840.00. Following the completion of the transaction, the insider now directly owns 636,898,811 shares of the company’s stock, valued at $42,544,840,574.80. The disclosure for this sale can be found here. Insiders sold a total of 11,000,613 shares of company stock worth $725,932,010 in the last ninety days. Insiders own 45.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in shares of Walmart in the first quarter worth $25,000. Northwest Capital Management Inc increased its position in shares of Walmart by 199.3% in the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock worth $26,000 after purchasing an additional 293 shares during the last quarter. TruNorth Capital Management LLC raised its stake in shares of Walmart by 138.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after purchasing an additional 249 shares in the last quarter. Cultivar Capital Inc. acquired a new position in Walmart in the second quarter worth about $29,000. Finally, Partnership Wealth Management LLC bought a new stake in Walmart in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Company Profile

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.