Walmart (NYSE:WMT) Price Target Raised to $108.00 at Evercore ISI

Key Points

• Walmart's price target was raised by Evercore ISI from $107.00 to $108.00, indicating a potential upside of 3.83% from its current stock price.
• Analysts continue to maintain a positive outlook, with an average rating of "Buy" and a consensus price target of $106.70, while several firms have set targets between $115.00 and $120.00.
• Recent insider selling activities included CEO C. Douglas McMillon selling over 29,000 shares at an average price of $96.58, indicating a slight decrease in his position.

Walmart (NYSE:WMT - Get Free Report) had its price target increased by Evercore ISI from $107.00 to $108.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the retailer's stock. Evercore ISI's target price would suggest a potential upside of 4.17% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $103.00 price objective (up previously from $102.00) on shares of Walmart in a research note on Monday, June 9th. Erste Group Bank raised shares of Walmart from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. DA Davidson reaffirmed a "buy" rating and issued a $117.00 price objective on shares of Walmart in a research note on Friday, May 16th. Mizuho lifted their price objective on shares of Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Walmart in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $106.70.

Walmart Stock Down 0.2%

Shares of NYSE:WMT traded down $0.25 during trading on Tuesday, reaching $103.68. 17,913,175 shares of the company traded hands, compared to its average volume of 13,932,130. The firm has a fifty day simple moving average of $97.46 and a 200 day simple moving average of $95.51. The firm has a market cap of $827.41 billion, a P/E ratio of 44.31, a price-to-earnings-growth ratio of 5.00 and a beta of 0.66. Walmart has a 1-year low of $67.14 and a 1-year high of $105.30. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47.

Walmart (NYSE:WMT - Get Free Report) last issued its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 2.75% and a return on equity of 21.76%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Analysts anticipate that Walmart will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In other Walmart news, CEO C Douglas Mcmillon sold 29,148 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total value of $2,815,113.84. Following the transaction, the chief executive officer directly owned 4,451,199 shares in the company, valued at $429,896,799.42. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total transaction of $216,568.00. Following the sale, the executive vice president directly owned 628,318 shares in the company, valued at $61,851,623.92. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,112 shares of company stock valued at $14,080,073 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WMT. Kingstone Capital Partners Texas LLC lifted its holdings in Walmart by 397,264.9% in the second quarter. Kingstone Capital Partners Texas LLC now owns 104,514,912 shares of the retailer's stock valued at $10,496,702,000 after buying an additional 104,488,610 shares during the period. Nuveen LLC bought a new stake in shares of Walmart during the first quarter worth $2,532,331,000. Laurel Wealth Advisors LLC increased its position in shares of Walmart by 9,648.7% during the second quarter. Laurel Wealth Advisors LLC now owns 11,486,374 shares of the retailer's stock worth $1,123,138,000 after acquiring an additional 11,368,549 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Walmart by 9,896.9% during the first quarter. GAMMA Investing LLC now owns 7,939,728 shares of the retailer's stock worth $697,029,000 after acquiring an additional 7,860,306 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Walmart by 30.1% in the first quarter. Goldman Sachs Group Inc. now owns 33,292,749 shares of the retailer's stock valued at $2,922,770,000 after purchasing an additional 7,706,201 shares in the last quarter. Institutional investors and hedge funds 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.