Walmart (NYSE:WMT) Shares Up 2.5% on Better-Than-Expected Earnings

Walmart Inc. (NYSE:WMT - Get Free Report) shares shot up 2.5% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $99.19 and last traded at $98.77. 10,122,877 shares were traded during mid-day trading, a decline of 52% from the average session volume of 20,978,643 shares. The stock had previously closed at $96.35.

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 for the quarter, compared to the consensus estimate of $164.53 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. During the same period in the previous year, the firm earned $0.60 earnings per share.

Walmart Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, May 9th. This represents a yield of 0.95%. Walmart's dividend payout ratio is currently 39.00%.

Wall Street Analysts Forecast Growth

WMT has been the subject of a number of recent analyst reports. Barclays reissued an "overweight" rating on shares of Walmart in a research report on Friday, February 28th. KeyCorp upped their price target on Walmart from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Robert W. Baird increased their target price on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday. UBS Group lowered their target price on Walmart from $112.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Mizuho began coverage on Walmart in a research report on Friday, April 11th. They issued an "outperform" rating and a $105.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.77.

Insider Activity

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the completion of the sale, the chief executive officer now directly owns 3,972,517 shares of the company's stock, valued at approximately $340,166,630.71. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kathryn J. Mclay sold 4,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $85.95, for a total value of $343,800.00. Following the sale, the executive vice president now directly owns 888,309 shares of the company's stock, valued at $76,350,158.55. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,857 shares of company stock worth $12,444,743 in the last quarter. Corporate insiders own 45.58% of the company's stock.

Hedge Funds Weigh In On Walmart

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Walmart during the fourth quarter worth approximately $5,737,355,000. Nuveen LLC acquired a new position in shares of Walmart in the first quarter valued at approximately $2,532,331,000. Raymond James Financial Inc. acquired a new position in Walmart during the fourth quarter worth $2,306,627,000. GAMMA Investing LLC grew its holdings in 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 during the period. Finally, Goldman Sachs Group Inc. grew its holdings 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 during the last quarter. Hedge funds and other institutional investors own 26.76% of the company's stock.

Walmart Price Performance

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 cap of $788.34 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 4.42 and a beta of 0.70. The company has a fifty day simple moving average of $90.98 and a two-hundred day simple moving average of $92.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.