Walmart (NYSE:WMT) Shares Up 4.1% – Here’s What Happened

Walmart Inc. (NYSE:WMT) shares traded up 4.1% during mid-day trading on Wednesday . The company traded as high as $86.24 and last traded at $85.15. 12,947,279 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 17,340,448 shares. The stock had previously closed at $81.79.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Walmart in a research report on Friday. They issued an “outperform” rating and a $105.00 price target on the stock. Raymond James lowered their price objective on Walmart from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday. Erste Group Bank downgraded Walmart from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Royal Bank of Canada decreased their target price on Walmart from $107.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Walmart from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Walmart presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.58.

Walmart Price Performance

The company has a market capitalization of $744.03 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23. The firm’s 50-day moving average is $92.59 and its 200-day moving average is $89.80.

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. The firm had revenue of $180.55 billion during the quarter, compared to the consensus estimate of $178.83 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. Analysts predict that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Walmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.01%. Walmart’s dividend payout ratio (DPR) is presently 39.00%.

Insider Buying and Selling

In other news, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $88.66, for a total transaction of $195,052.00. Following the sale, the executive vice president now directly owns 398,024 shares in the company, valued at $35,288,807.84. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel J. Bartlett sold 1,830 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.07, for a total transaction of $166,658.10. Following the completion of the transaction, the executive vice president now directly owns 460,705 shares of the company’s stock, valued at $41,956,404.35. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,852 shares of company stock valued at $16,785,080. 45.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Walmart

Several institutional investors and hedge funds have recently modified their holdings of WMT. Principal Financial Group Inc. raised its holdings in shares of Walmart by 14.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock worth $503,517,000 after acquiring an additional 809,352 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in Walmart by 31.9% during the third quarter. Soltis Investment Advisors LLC now owns 11,716 shares of the retailer’s stock valued at $946,000 after purchasing an additional 2,831 shares in the last quarter. TCW Group Inc. lifted its position in Walmart by 140.1% during the third quarter. TCW Group Inc. now owns 151,115 shares of the retailer’s stock valued at $12,203,000 after purchasing an additional 88,177 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Walmart in the 3rd quarter worth $541,000. Finally, SOA Wealth Advisors LLC. increased its holdings in shares of Walmart by 4.2% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 9,052 shares of the retailer’s stock worth $731,000 after buying an additional 364 shares during the last quarter. Institutional investors own 26.76% of the company’s stock.

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.