Walmart (NYSE:WMT) Trading 3.4% Higher - Here's What Happened

Key Points

• Walmart's shares increased by 3.4% during mid-day trading, reaching a price of $102.70 after previously closing at $99.31.
• Analysts have forecasted a consensus buy rating for Walmart, with a target price averaging $106.67, despite some analysts adjusting their targets lower.
• CEO C Douglas McMillon sold over 19,000 shares of Walmart stock recently, resulting in a 0.44% decrease in his ownership of the company.

Shares of Walmart Inc. (NYSE:WMT - Get Free Report) were up 3.4% during mid-day trading on Wednesday . The company traded as high as $102.22 and last traded at $102.70. Approximately 4,631,485 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 19,043,391 shares. The stock had previously closed at $99.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Raymond James Financial lowered their price target on shares of Walmart from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Royal Bank Of Canada reissued an "outperform" rating and issued a $103.00 price target (up previously from $102.00) on shares of Walmart in a research report on Monday, June 9th. DA Davidson reaffirmed a "buy" rating and issued a $117.00 price objective on shares of Walmart in a report on Friday, May 16th. Robert W. Baird increased their target price on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Oppenheimer raised their price target on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Walmart presently has a consensus rating of "Buy" and an average price target of $106.67.

Walmart Stock Up 4.3%

The stock has a market cap of $826.53 billion, a PE ratio of 44.30, a PEG ratio of 4.79 and a beta of 0.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22. The company has a 50 day moving average price of $96.95 and a two-hundred day moving average price of $95.16.

Walmart (NYSE:WMT - Get Free Report) last posted its earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. The business had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The firm's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Analysts expect that Walmart Inc. will post 2.55 EPS for the current year.

Insider Activity

In other Walmart news, CEO C Douglas Mcmillon sold 19,416 shares of Walmart stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $95.58, for a total value of $1,855,781.28. Following the sale, the chief executive officer owned 4,412,398 shares of the company's stock, valued at $421,737,000.84. The trade was a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John R. Furner sold 13,125 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $95.14, for a total value of $1,248,712.50. Following the sale, the executive vice president directly owned 932,313 shares in the company, valued at $88,700,258.82. This trade represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,112 shares of company stock valued at $14,080,073. Company insiders own 45.58% of the company's stock.

Hedge Funds Weigh In On Walmart

Several large investors have recently modified their holdings of WMT. Kingstone Capital Partners Texas LLC grew its holdings in shares of 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 worth $10,496,702,000 after purchasing an additional 104,488,610 shares during the last quarter. Nuveen LLC purchased a new position in shares of Walmart during the first quarter worth approximately $2,532,331,000. GAMMA Investing LLC raised its stake 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 valued at $697,029,000 after acquiring an additional 7,860,306 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of 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 period. Finally, Wellington Management Group LLP boosted its holdings in shares of Walmart by 527.1% in the first quarter. Wellington Management Group LLP now owns 6,739,038 shares of the retailer's stock valued at $591,620,000 after purchasing an additional 5,664,484 shares during the period. 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.

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