KeyCorp Forecasts Strong Price Appreciation for Walmart (NYSE:WMT) Stock

Walmart (NYSE:WMT) had its price target hoisted by equities research analysts at KeyCorp from $100.00 to $105.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the retailer’s stock. KeyCorp’s target price would suggest a potential upside of 9.78% from the company’s previous close.

Several other analysts have also commented on the stock. Robert W. Baird raised their price objective on shares of Walmart from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Barclays upped their target price on shares of Walmart from $98.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Morgan Stanley reissued an “overweight” rating and set a $115.00 price target (up from $106.00) on shares of Walmart in a research report on Thursday, February 13th. Jefferies Financial Group increased their price objective on Walmart from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company raised their target price on shares of Walmart from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Walmart has an average rating of “Moderate Buy” and a consensus target price of $102.03.

Walmart Price Performance

WMT opened at $95.64 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.85. The stock has a market capitalization of $768.33 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 4.40 and a beta of 0.55. The stock’s 50 day moving average price is $95.62 and its 200-day moving average price is $86.25. Walmart has a 52-week low of $57.77 and a 52-week high of $105.30.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, February 20th. The retailer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The business had revenue of $180.55 billion for the quarter, compared to the consensus estimate of $178.83 billion. On average, equities research analysts predict that Walmart will post 2.48 EPS for the current year.

Insider Activity at Walmart

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.44, for a total transaction of $2,663,098.56. Following the sale, the chief executive officer now owns 3,814,805 shares in the company, valued at approximately $348,825,769.20. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $103.99, for a total transaction of $166,384.00. Following the completion of the sale, the executive vice president now directly owns 423,597 shares of the company’s stock, valued at approximately $44,049,852.03. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,777 shares of company stock valued at $16,570,112. Insiders own 45.58% of the company’s stock.

Institutional Trading of Walmart

Several institutional investors and hedge funds have recently made changes to their positions in WMT. Forum Financial Management LP increased its stake in Walmart by 4.0% in the 4th quarter. Forum Financial Management LP now owns 75,100 shares of the retailer’s stock worth $6,785,000 after buying an additional 2,897 shares during the period. Griffith & Werner Inc. purchased a new position in shares of Walmart during the fourth quarter worth approximately $285,000. Sunbeam Capital Management LLC bought a new stake in shares of Walmart during the fourth quarter valued at approximately $1,309,000. Michels Family Financial LLC purchased a new stake in shares of Walmart in the fourth quarter valued at approximately $533,000. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Walmart in the 4th quarter worth $1,326,000. 26.76% of the stock is currently owned by institutional investors.

Walmart Company Profile

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.