Walmart Inc. (NYSE:WMT) declared a quarterly dividend on Friday, February 19th, Wall Street Journal reports. Investors of record on Friday, May 7th will be given a dividend of 0.55 per share by the retailer on Tuesday, June 1st. This represents a $2.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, May 6th.
Walmart has raised its dividend by 5.9% over the last three years and has raised its dividend every year for the last 45 years. Walmart has a payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Walmart to earn $5.69 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 38.7%.
Walmart stock opened at $142.12 on Tuesday. The stock has a market capitalization of $399.99 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 4.86 and a beta of 0.27. The business has a 50 day simple moving average of $137.10 and a 200-day simple moving average of $142.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.79 and a quick ratio of 0.29. Walmart has a 12 month low of $117.01 and a 12 month high of $153.66.
In related news, CEO C Douglas Mcmillon sold 9,708 shares of the business’s stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $141.01, for a total transaction of $1,368,925.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alice L. Walton sold 710,440 shares of the company’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $130.64, for a total value of $92,811,881.60. Following the completion of the transaction, the insider now directly owns 21,748,580 shares in the company, valued at approximately $2,841,234,491.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,009,708 shares of company stock valued at $264,285,412. 50.43% of the stock is owned by company insiders.
Walmart announced that its board has initiated a stock buyback program on Thursday, February 18th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the retailer to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Several research firms recently weighed in on WMT. Credit Suisse Group set a $150.00 target price on shares of Walmart and gave the company a “buy” rating in a report on Friday, February 19th. Deutsche Bank Aktiengesellschaft decreased their target price on Walmart from $170.00 to $166.00 and set a “buy” rating for the company in a report on Friday, February 19th. Morgan Stanley decreased their price objective on shares of Walmart from $156.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, February 25th. Raymond James lowered their price objective on Walmart from $165.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, February 25th. Finally, Royal Bank of Canada set a $162.00 target price on shares of Walmart and gave the company a “buy” rating in a report on Friday, February 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company. Walmart has a consensus rating of “Buy” and a consensus target price of $154.63.
Walmart Company Profile
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.
Featured Article: Why is the price-sales ratio important?
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.