Walmart (NYSE:WMT) Receives Outperform Rating from Royal Bank of Canada

Walmart (NYSE:WMT - Get Free Report)'s stock had its "outperform" rating reiterated by Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They currently have a $102.00 price objective on the retailer's stock. Royal Bank of Canada's price objective indicates a potential upside of 4.10% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Barclays restated an "overweight" rating on shares of Walmart in a research note on Friday, February 28th. The Goldman Sachs Group reiterated a "buy" rating on shares of Walmart in a report on Wednesday, March 26th. Truist Financial reduced their target price on Walmart from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on Walmart from $97.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, StockNews.com upgraded shares of Walmart from a "hold" rating to a "buy" rating in a report on Monday. Two research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.81.

Walmart Trading Up 1.7%

Shares of NYSE:WMT traded up $1.64 during midday trading on Friday, reaching $97.99. The company had a trading volume of 18,996,479 shares, compared to its average volume of 21,092,416. The company has a fifty day simple moving average of $90.98 and a two-hundred day simple moving average of $92.29. The firm has a market cap of $783.97 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 4.42 and a beta of 0.70. Walmart has a 1-year low of $63.63 and a 1-year high of $105.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.23 and a current ratio of 0.82.

Walmart (NYSE:WMT - Get Free Report) last released its quarterly 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 business had revenue of $165.61 billion for 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 business earned $0.60 earnings per share. Research analysts predict that Walmart will post 2.55 earnings per share for the current year.

Insider Activity

In other Walmart news, EVP Christopher James Nicholas sold 17,600 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $94.42, for a total transaction of $1,661,792.00. Following the completion of the sale, the executive vice president now directly owns 348,357 shares of the company's stock, valued at $32,891,867.94. This represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Bartlett sold 1,600 shares of Walmart stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $103.99, for a total value of $166,384.00. Following the completion of the sale, the executive vice president now owns 423,597 shares in the company, valued at approximately $44,049,852.03. This trade represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,857 shares of company stock valued at $12,444,743. 45.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. World Investment Advisors raised its stake in Walmart by 7.6% during the 4th quarter. World Investment Advisors now owns 271,515 shares of the retailer's stock valued at $24,532,000 after acquiring an additional 19,233 shares in the last quarter. Candriam S.C.A. raised its stake in shares of Walmart by 209.7% during the fourth quarter. Candriam S.C.A. now owns 885,008 shares of the retailer's stock valued at $79,960,000 after purchasing an additional 599,257 shares in the last quarter. Modera Wealth Management LLC lifted its holdings in Walmart by 4.8% in the fourth quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer's stock worth $18,355,000 after purchasing an additional 9,292 shares during the period. Cushing Capital Partners LLC bought a new position in Walmart in the 4th quarter valued at about $1,124,000. Finally, Campbell Wealth Management acquired a new position in Walmart during the 4th quarter valued at about $359,000. 26.76% of the stock is owned by institutional investors and hedge funds.

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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