DA Davidson Boosts Walmart (NYSE:WMT) Price Target to $173.00

Walmart (NYSE:WMTGet Rating) had its target price upped by DA Davidson from $163.00 to $173.00 in a research report report published on Wednesday morning, The Fly reports. They currently have a buy rating on the retailer’s stock. DA Davidson also issued estimates for Walmart’s Q4 2023 earnings at $1.46 EPS, FY2023 earnings at $6.04 EPS and FY2024 earnings at $6.43 EPS.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Walmart from $151.00 to $163.00 in a research note on Wednesday. Citigroup lifted their target price on Walmart from $162.00 to $169.00 in a report on Wednesday. Erste Group Bank raised Walmart from a hold rating to a buy rating in a research note on Wednesday, October 5th. Jefferies Financial Group lifted their price objective on Walmart from $161.00 to $165.00 and gave the stock a buy rating in a research note on Tuesday, October 18th. Finally, Credit Suisse Group increased their target price on shares of Walmart from $133.00 to $145.00 and gave the company an outperform rating in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $160.14.

Walmart Trading Up 1.5 %

NYSE WMT opened at $150.23 on Wednesday. The company has a market cap of $407.76 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 4.43 and a beta of 0.52. Walmart has a twelve month low of $117.27 and a twelve month high of $160.77. The company has a quick ratio of 0.24, a current ratio of 0.86 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average is $136.74 and its 200 day moving average is $132.27.

Walmart (NYSE:WMTGet Rating) last posted its earnings results on Tuesday, November 15th. The retailer reported $1.50 EPS for the quarter, beating the consensus estimate of $1.32 by $0.18. Walmart had a return on equity of 19.54% and a net margin of 1.49%. The firm had revenue of $152.80 billion during the quarter, compared to the consensus estimate of $146.80 billion. During the same period last year, the company earned $1.45 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that Walmart will post 6.08 EPS for the current fiscal year.

Walmart declared that its board has approved a share repurchase plan on Tuesday, November 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the retailer to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, SVP David Chojnowski sold 7,000 shares of Walmart stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $149.89, for a total transaction of $1,049,230.00. Following the completion of the sale, the senior vice president now owns 37,921 shares of the company’s stock, valued at $5,683,978.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Walmart news, SVP David Chojnowski sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $149.89, for a total value of $1,049,230.00. Following the sale, the senior vice president now owns 37,921 shares of the company’s stock, valued at approximately $5,683,978.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Jim C. Walton sold 136,617 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $135.04, for a total value of $18,448,759.68. Following the transaction, the insider now directly owns 282,678,177 shares of the company’s stock, valued at approximately $38,172,861,022.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,398,363 shares of company stock valued at $643,252,431. Company insiders own 47.06% of the company’s stock.

Institutional Trading of Walmart

A number of hedge funds have recently made changes to their positions in WMT. Vanguard Group Inc. lifted its stake in Walmart by 1.4% during the third quarter. Vanguard Group Inc. now owns 130,176,496 shares of the retailer’s stock worth $16,883,890,000 after purchasing an additional 1,832,388 shares during the last quarter. BlackRock Inc. lifted its position in Walmart by 2.9% in the 3rd quarter. BlackRock Inc. now owns 96,570,711 shares of the retailer’s stock worth $12,525,224,000 after buying an additional 2,712,886 shares during the last quarter. State Street Corp lifted its position in Walmart by 1.2% in the 3rd quarter. State Street Corp now owns 60,659,193 shares of the retailer’s stock worth $7,867,497,000 after buying an additional 701,415 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Walmart by 7.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 23,919,371 shares of the retailer’s stock worth $2,908,117,000 after buying an additional 1,685,320 shares in the last quarter. Finally, GQG Partners LLC grew its position in Walmart by 48.0% during the first quarter. GQG Partners LLC now owns 15,431,684 shares of the retailer’s stock valued at $2,297,510,000 after acquiring an additional 5,007,342 shares during the last quarter. 31.26% of the stock is owned by institutional investors.

About Walmart

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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.

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