Walmart (WMT) Price Target Raised to $112.00
Walmart (NYSE:WMT) had its price target raised by KeyCorp from $107.00 to $112.00 in a research report report published on Friday. KeyCorp currently has an overweight rating on the retailer’s stock. KeyCorp also issued estimates for Walmart’s Q4 2019 earnings at $1.33 EPS and Q4 2020 earnings at $1.29 EPS.
A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. raised their target price on Walmart to $108.00 and gave the stock a neutral rating in a report on Monday, October 8th. Deutsche Bank raised Walmart from a hold rating to a buy rating and raised their target price for the stock from $89.00 to $113.00 in a report on Tuesday, October 9th. BMO Capital Markets initiated coverage on Walmart in a research note on Monday, September 17th. They issued an outperform rating and a $110.00 price target for the company. Credit Suisse Group reiterated a neutral rating and issued a $103.00 price target on shares of Walmart in a research note on Wednesday, October 17th. Finally, Cowen increased their price target on Walmart from $115.00 to $120.00 and gave the stock an outperform rating in a research note on Monday, October 29th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $104.13.
Shares of Walmart stock opened at $97.69 on Friday. Walmart has a one year low of $81.78 and a one year high of $109.98. The firm has a market capitalization of $289.40 billion, a P/E ratio of 22.10, a P/E/G ratio of 4.04 and a beta of 0.35. The company has a current ratio of 0.81, a quick ratio of 0.34 and a debt-to-equity ratio of 0.63.
In other news, Director S Robson Walton sold 1,276,062 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $95.19, for a total transaction of $121,468,341.78. Following the completion of the transaction, the director now owns 4,147,254 shares in the company, valued at $394,777,108.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Jim C. Walton sold 2,009,792 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $94.63, for a total value of $190,186,616.96. Following the transaction, the insider now owns 10,557,224 shares of the company’s stock, valued at approximately $999,030,107.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,433,931 shares of company stock valued at $803,955,004. Company insiders own 51.11% of the company’s stock.
Several institutional investors have recently modified their holdings of WMT. BlackRock Inc. grew its position in Walmart by 1.9% in the second quarter. BlackRock Inc. now owns 90,679,652 shares of the retailer’s stock worth $7,766,712,000 after acquiring an additional 1,660,543 shares in the last quarter. FMR LLC grew its position in Walmart by 1.2% in the third quarter. FMR LLC now owns 20,918,958 shares of the retailer’s stock worth $1,964,498,000 after acquiring an additional 242,074 shares in the last quarter. AQR Capital Management LLC grew its position in Walmart by 27.2% in the third quarter. AQR Capital Management LLC now owns 12,208,910 shares of the retailer’s stock worth $1,146,539,000 after acquiring an additional 2,608,732 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Walmart by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 10,288,004 shares of the retailer’s stock worth $881,168,000 after acquiring an additional 148,000 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Walmart by 3.4% in the third quarter. Fisher Asset Management LLC now owns 9,931,750 shares of the retailer’s stock worth $932,691,000 after acquiring an additional 323,377 shares in the last quarter. Hedge funds and other institutional investors own 29.37% 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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