Walmart (WMT) Earns Buy Rating from Raymond James
Walmart (NYSE:WMT)‘s stock had its “buy” rating restated by investment analysts at Raymond James in a report issued on Monday. They currently have a $105.00 price objective on the retailer’s stock. Raymond James’ target price indicates a potential upside of 11.15% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. Stephens set a $117.00 target price on Walmart and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley reissued a “neutral” rating and set a $107.00 price objective on shares of Walmart in a research report on Friday. Citigroup increased their price objective on shares of Walmart from $113.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank increased their price objective on shares of Walmart from $112.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday. Finally, KeyCorp increased their price objective on shares of Walmart from $107.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Walmart presently has an average rating of “Hold” and a consensus price target of $104.13.
Shares of NYSE:WMT traded down $2.31 during trading on Monday, reaching $94.47. 5,552,228 shares of the stock were exchanged, compared to its average volume of 10,006,661. The company has a quick ratio of 0.22, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $289.40 billion, a PE ratio of 21.37, a P/E/G ratio of 4.01 and a beta of 0.35. Walmart has a 12 month low of $81.78 and a 12 month high of $109.98.
In related news, major shareholder Jim C. Walton sold 2,009,792 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $94.63, for a total transaction of $190,186,616.96. Following the sale, the insider now owns 10,557,224 shares of the company’s stock, valued at $999,030,107.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Furner sold 9,623 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $94.04, for a total transaction of $904,946.92. Following the sale, the insider now directly owns 165,402 shares in the company, valued at approximately $15,554,404.08. The disclosure for this sale can be found here. Insiders have sold 8,433,931 shares of company stock worth $803,955,004 in the last three months. 51.11% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. James Investment Research Inc. bought a new position in Walmart during the second quarter valued at approximately $27,182,000. Eagle Capital Management LLC bought a new position in Walmart during the second quarter valued at approximately $2,281,000. Heritage Investors Management Corp lifted its position in Walmart by 2.7% during the second quarter. Heritage Investors Management Corp now owns 233,610 shares of the retailer’s stock valued at $20,009,000 after purchasing an additional 6,244 shares during the period. Somerset Trust Co bought a new position in Walmart during the second quarter valued at approximately $1,678,000. Finally, Huntington National Bank lifted its position in Walmart by 10.3% during the second quarter. Huntington National Bank now owns 211,582 shares of the retailer’s stock valued at $18,122,000 after purchasing an additional 19,717 shares during the period. Hedge funds and other institutional investors own 29.09% of the company’s stock.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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