Bank of America Lowers Walmart (NYSE:WMT) Price Target to $160.00

Walmart (NYSE:WMTGet Rating) had its price objective reduced by investment analysts at Bank of America from $190.00 to $160.00 in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage presently has a “buy” rating on the retailer’s stock. Bank of America‘s price target indicates a potential upside of 27.55% from the stock’s current price.

Several other research firms also recently weighed in on WMT. BNP Paribas upgraded shares of Walmart from an “underperform” rating to a “neutral” rating and set a $136.00 target price for the company in a research note on Friday, February 11th. The Goldman Sachs Group set a $160.00 target price on Walmart in a research note on Wednesday. Cowen reduced their target price on shares of Walmart from $175.00 to $165.00 in a report on Monday, February 14th. Royal Bank of Canada lowered their price objective on Walmart from $160.00 to $153.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group reduced their price target on shares of Walmart from $175.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $159.76.

Walmart stock traded down $5.91 during mid-day trading on Wednesday, hitting $125.44. 382,001 shares of the company’s stock were exchanged, compared to its average volume of 7,040,231. The company’s 50 day simple moving average is $150.31 and its 200-day simple moving average is $144.54. The company has a quick ratio of 0.28, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $345.31 billion, a P/E ratio of 25.83, a PEG ratio of 3.99 and a beta of 0.49. Walmart has a fifty-two week low of $130.64 and a fifty-two week high of $160.77.

Walmart (NYSE:WMTGet Rating) last issued its quarterly earnings results on Tuesday, May 17th. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.18). Walmart had a return on equity of 20.42% and a net margin of 2.39%. The business had revenue of $141.60 billion for the quarter, compared to analyst estimates of $138.05 billion. During the same quarter last year, the firm posted $1.69 EPS. Walmart’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts expect that Walmart will post 6.75 EPS for the current year.

In other news, EVP John R. Furner sold 15,100 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $138.07, for a total transaction of $2,084,857.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO C Douglas Mcmillon sold 9,708 shares of the firm’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $154.41, for a total value of $1,499,012.28. Following the completion of the transaction, the chief executive officer now owns 1,536,571 shares in the company, valued at $237,261,928.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,426,790 shares of company stock worth $195,406,267. 48.44% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Walmart in the 4th quarter worth about $2,925,852,000. GQG Partners LLC acquired a new stake in shares of Walmart in the 4th quarter worth approximately $1,507,971,000. Aaron Wealth Advisors LLC boosted its stake in Walmart by 14,883.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 3,224,266 shares of the retailer’s stock valued at $21,651,000 after purchasing an additional 3,202,747 shares in the last quarter. Invesco Ltd. boosted its position in shares of Walmart by 54.6% during the 3rd quarter. Invesco Ltd. now owns 7,529,531 shares of the retailer’s stock valued at $1,049,467,000 after purchasing an additional 2,658,281 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Walmart by 393.5% in the fourth quarter. Nordea Investment Management AB now owns 3,153,219 shares of the retailer’s stock worth $450,752,000 after buying an additional 2,514,311 shares during the last quarter. Hedge funds and other institutional investors own 30.79% of the company’s stock.

Walmart Company Profile (Get Rating)

Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.

Recommended Stories

Analyst Recommendations for Walmart (NYSE:WMT)

Receive News & Ratings for Walmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walmart and related companies with MarketBeat.com's FREE daily email newsletter.