Walmart (NYSE:WMT) Price Target Raised to $75.00 at KeyCorp

Walmart (NYSE:WMTFree Report) had its price objective lifted by KeyCorp from $63.00 to $75.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the retailer’s stock.

A number of other research firms also recently weighed in on WMT. Evercore ISI upped their target price on Walmart from $66.00 to $67.00 and gave the stock an outperform rating in a research report on Tuesday, May 14th. StockNews.com raised Walmart from a buy rating to a strong-buy rating in a report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a hold rating on shares of Walmart in a report on Wednesday, March 13th. Morgan Stanley decreased their price objective on shares of Walmart to $66.67 and set an overweight rating for the company in a report on Monday, February 26th. Finally, UBS Group upped their price objective on shares of Walmart from $63.00 to $69.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Walmart presently has an average rating of Moderate Buy and an average price target of $68.01.

Get Our Latest Stock Analysis on Walmart

Walmart Stock Performance

Shares of NYSE WMT opened at $64.21 on Friday. The company has a market cap of $517.41 billion, a PE ratio of 27.44, a P/E/G ratio of 4.16 and a beta of 0.49. The company has a current ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.48. Walmart has a 12-month low of $48.34 and a 12-month high of $64.88. The stock has a 50 day simple moving average of $60.41 and a 200-day simple moving average of $56.58.

Walmart (NYSE:WMTGet Free Report) last released its earnings results on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $161.50 billion during the quarter, compared to the consensus estimate of $159.57 billion. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, equities research analysts forecast that Walmart will post 2.39 EPS for the current year.

Walmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, December 13th. Walmart’s dividend payout ratio (DPR) is presently 35.47%.

Insider Buying and Selling

In related news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $59.08, for a total value of $177,240.00. Following the completion of the transaction, the executive vice president now owns 521,613 shares of the company’s stock, valued at $30,816,896.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director S Robson Walton sold 5,816,175 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $57.95, for a total transaction of $337,066,728.50. Following the completion of the sale, the director now owns 677,052,654 shares of the company’s stock, valued at $39,237,458,141.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $59.08, for a total transaction of $177,240.00. Following the sale, the executive vice president now directly owns 521,613 shares of the company’s stock, valued at approximately $30,816,896.04. The disclosure for this sale can be found here. Insiders sold 29,019,140 shares of company stock valued at $1,696,045,631 over the last quarter. Corporate insiders own 46.51% of the company’s stock.

Institutional Trading of Walmart

Several hedge funds have recently modified their holdings of WMT. Vanguard Group Inc. grew its stake in shares of Walmart by 199.4% during the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after purchasing an additional 274,229,968 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Walmart by 181.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock valued at $3,421,342,000 after purchasing an additional 36,625,314 shares during the last quarter. Norges Bank bought a new stake in shares of Walmart during the fourth quarter valued at approximately $3,674,652,000. Bank of New York Mellon Corp grew its stake in shares of Walmart by 183.0% during the first quarter. Bank of New York Mellon Corp now owns 29,172,985 shares of the retailer’s stock valued at $1,755,339,000 after purchasing an additional 18,865,484 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Walmart by 212.6% during the first quarter. Raymond James & Associates now owns 14,035,473 shares of the retailer’s stock valued at $844,514,000 after purchasing an additional 9,544,958 shares during the last quarter. 26.76% of the stock is owned by institutional investors.

Walmart Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Walmart (NYSE:WMT)

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