Truist Financial Forecasts Strong Price Appreciation for Walmart (NYSE:WMT) Stock

Walmart (NYSE:WMT - Get Free Report) had its target price boosted by equities researchers at Truist Financial from $107.00 to $111.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the retailer's stock. Truist Financial's target price would suggest a potential upside of 13.48% from the stock's previous close.

A number of other equities research analysts also recently issued reports on WMT. Guggenheim reissued a "buy" rating and issued a $100.00 price target on shares of Walmart in a research note on Monday, February 24th. Oppenheimer upped their target price on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Royal Bank of Canada reiterated an "outperform" rating and set a $102.00 target price on shares of Walmart in a research note on Friday. Morgan Stanley reissued an "overweight" rating and set a $115.00 price objective (up previously from $106.00) on shares of Walmart in a report on Thursday, February 13th. Finally, Evercore ISI decreased their target price on Walmart from $107.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.94.

Walmart Price Performance

Shares of Walmart stock traded up $1.46 on Friday, reaching $97.81. The company's stock had a trading volume of 22,913,947 shares, compared to its average volume of 18,021,986. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $782.60 billion, a P/E ratio of 40.55, a PEG ratio of 4.42 and a beta of 0.70. The stock has a 50-day moving average price of $90.98 and a 200-day moving average price of $92.29. Walmart has a 52-week low of $62.94 and a 52-week high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $165.61 billion during 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%. During the same quarter in the previous year, the firm earned $0.60 EPS. Analysts expect that Walmart will post 2.55 EPS for the current year.

Insider Transactions at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $96.95, for a total value of $2,823,571.80. Following the completion of the sale, the chief executive officer now owns 3,558,247 shares of the company's stock, valued at $344,972,046.65. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $97.37, for a total value of $214,214.00. Following the transaction, the executive vice president now owns 632,718 shares in the company, valued at $61,607,751.66. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,857 shares of company stock valued at $12,444,743 over the last three months. 45.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rise Advisors LLC boosted its holdings in Walmart by 11.1% in the first quarter. Rise Advisors LLC now owns 4,239 shares of the retailer's stock valued at $372,000 after acquiring an additional 424 shares during the last quarter. Royal Capital Wealth Management LLC boosted its position in Walmart by 4.5% during the 1st quarter. Royal Capital Wealth Management LLC now owns 22,566 shares of the retailer's stock worth $1,981,000 after purchasing an additional 972 shares during the period. Sandler Capital Management purchased a new position in Walmart in the first quarter valued at about $2,458,000. Petrus Trust Company LTA lifted its stake in shares of Walmart by 60.4% during the first quarter. Petrus Trust Company LTA now owns 7,291 shares of the retailer's stock worth $640,000 after purchasing an additional 2,746 shares in the last quarter. Finally, Plancorp LLC grew its stake in shares of Walmart by 12.3% in the first quarter. Plancorp LLC now owns 60,314 shares of the retailer's stock valued at $5,295,000 after buying an additional 6,628 shares in the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

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