Barclays Raises Walmart (NYSE:WMT) Price Target to $66.00

Walmart (NYSE:WMT) had its target price raised by Barclays from $60.00 to $66.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the retailer’s stock.

A number of other research firms have also recently issued reports on WMT. Tigress Financial increased their price objective on shares of Walmart from $65.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. Truist Financial raised their price objective on Walmart from $60.00 to $64.00 and gave the company a hold rating in a research note on Friday, May 17th. StockNews.com raised Walmart from a buy rating to a strong-buy rating in a research report on Wednesday, February 21st. BMO Capital Markets lifted their price target on shares of Walmart from $65.00 to $75.00 and gave the company an outperform rating in a research report on Friday, May 17th. Finally, Citigroup raised their price objective on shares of Walmart from $63.33 to $75.00 and gave the company a buy rating in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart has an average rating of Moderate Buy and an average target price of $68.01.

Walmart Price Performance

Shares of WMT opened at $65.23 on Monday. The business has a 50-day moving average of $60.56 and a 200-day moving average of $56.71. Walmart has a 1 year low of $48.34 and a 1 year high of $65.69. The company has a market capitalization of $525.63 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 4.10 and a beta of 0.49. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.80 and a quick ratio of 0.23.

Walmart (NYSE:WMT) last issued its quarterly 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. Walmart had a return on equity of 21.57% and a net margin of 2.88%. The firm had revenue of $161.50 billion during the quarter, compared to the consensus estimate of $159.57 billion. During the same period last year, the business posted $0.49 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Walmart will post 2.41 earnings per share for the current year.

Walmart Announces Dividend

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 paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, December 13th. Walmart’s payout ratio is 35.52%.

Insiders Place Their Bets

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $60.45, for a total transaction of $1,760,545.80. Following the sale, the chief executive officer now owns 4,047,767 shares in the company, valued at approximately $244,687,515.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $60.45, for a total value of $1,760,545.80. Following the sale, the chief executive officer now directly owns 4,047,767 shares of the company’s stock, valued at $244,687,515.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Alice L. Walton sold 500,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.39, for a total transaction of $29,195,000.00. Following the completion of the transaction, the insider now owns 653,067,261 shares in the company, valued at approximately $38,132,597,369.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,733,075 shares of company stock worth $1,237,280,394. 46.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Authentikos Wealth Advisory LLC purchased a new stake in Walmart during the third quarter valued at approximately $25,000. Partnership Wealth Management LLC purchased a new position in shares of Walmart in the 4th quarter worth approximately $30,000. Able Wealth Management LLC bought a new position in Walmart during the fourth quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Walmart during the 4th quarter valued at about $32,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of Walmart in the fourth quarter worth approximately $35,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

About Walmart

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.