Walmart Inc. (NYSE:WMT – Get Free Report)’s share price dropped 0.2% during trading on Tuesday . The stock traded as low as $91.12 and last traded at $91.33. Approximately 2,960,103 shares traded hands during trading, a decline of 77% from the average daily volume of 13,001,878 shares. The stock had previously closed at $91.53.
Wall Street Analysts Forecast Growth
WMT has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Walmart from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday. Melius Research started coverage on Walmart in a research note on Monday, September 23rd. They issued a “buy” rating and a $95.00 price objective on the stock. UBS Group increased their target price on Walmart from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Tigress Financial lifted their price target on Walmart from $86.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Telsey Advisory Group increased their price objective on Walmart from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.08.
View Our Latest Analysis on Walmart
Walmart Price Performance
Walmart (NYSE:WMT – Get Free Report) last announced its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $169.59 billion for the quarter, compared to analysts’ expectations of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, research analysts forecast that Walmart Inc. will post 2.47 earnings per share for the current year.
Insider Activity at Walmart
In related news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $82.79, for a total transaction of $2,411,175.96. Following the sale, the chief executive officer now owns 3,843,929 shares of the company’s stock, valued at $318,238,881.91. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz bought 5,446 shares of the stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $91.81 per share, with a total value of $499,997.26. Following the acquisition, the director now owns 7,805 shares in the company, valued at approximately $716,577.05. This represents a 230.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 138,347 shares of company stock valued at $12,311,491 over the last ninety days. 45.58% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Walmart
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Walmart by 3.3% in the third quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock valued at $7,048,465,000 after buying an additional 2,786,061 shares during the period. FMR LLC lifted its position in shares of Walmart by 12.9% during the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock valued at $5,098,203,000 after acquiring an additional 7,200,004 shares during the period. Fisher Asset Management LLC boosted its stake in Walmart by 4.6% during the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock worth $3,848,533,000 after acquiring an additional 2,107,197 shares in the last quarter. Franklin Resources Inc. grew its holdings in Walmart by 3.7% in the third quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer’s stock worth $3,392,658,000 after purchasing an additional 1,480,927 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Walmart by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock valued at $2,456,704,000 after buying an additional 644,353 shares during the period. 26.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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