Walmart (NYSE:WMT) Shares Rise 0.8% Following Analyst Upgrade

Walmart Inc. (NYSE:WMT) saw its shares increase by 0.8% during mid-day trading on Wednesday, December 13, 2024. This rise followed an upgrade from KeyCorp, which raised its price target on Walmart's stock from $96.00 to $100.00. KeyCorp has placed an overweight rating on the stock, indicating a positive outlook. During the trading session, Walmart's shares reached a high of $95.39 and were last seen trading at $95.34. A total of approximately 2,438,394 shares exchanged hands, reflecting a significant decline of 86% from the average daily volume of 16,856,713 shares. The stock had closed at $94.55 the previous day.

In addition to KeyCorp, several other research firms have also published recent analyses of Walmart. Wells Fargo & Company increased their price target from $90.00 to $96.00, affirming an "overweight" rating in a report dated Wednesday, November 20th. Similarly, Barclays raised their target price from $78.00 to $90.00, issuing an "overweight" rating on November 22nd. Redburn Atlantic upgraded Walmart to a "strong-buy" rating on September 23rd. Roth MKM also increased their target from $81.00 to $97.00 on November 20th, endorsing a "buy" rating. Additionally, Piper Sandler raised their price target from $83.00 to $93.00 while maintaining an "overweight" rating on November 18th. Currently, two analysts have assigned the stock a hold rating, while twenty-nine have issued buy ratings, and one has given a strong buy rating. MarketBeat reports an overall consensus rating of “Moderate Buy” with an average target price of $92.40.

Insider Transactions at Walmart

In related news, Walmart’s Executive Vice President John D. Rainey sold 3,000 shares on December 2nd at an average price of $92.47, resulting in a transaction value of $277,410. Post-sale, Rainey holds 375,165 shares in Walmart, valued at approximately $34,691,507. This sale represents a 0.79% decrease in his stake. The transaction was formally disclosed in a filing with the Securities and Exchange Commission. Likewise, EVP Daniel J. Bartlett sold 2,063 shares on September 16th at an average price of $80.76, totaling around $166,607.88. Following this transaction, he retains 459,558 shares valued at about $37,113,904. Over the last quarter, insiders have divested 2,309,091 shares worth $183,375,539. Notably, insiders own 45.58% of Walmart’s shares.

Hedge Funds Weigh In On Walmart

Various institutional investors and hedge funds have recently made adjustments to their stakes in Walmart. Summit Financial Wealth Advisors LLC raised their holdings in Walmart by 0.5% in the third quarter, now owning 23,720 shares priced at $1,915,000 after acquiring an additional 118 shares. Providence Wealth Advisors LLC increased their position by 0.3%. They currently hold 43,549 shares valued at $3,591,000 after purchasing 122 more shares in the last quarter. 3Chopt Investment Partners LLC boosted its ownership by 0.4% during the same period. They now own 32,633 shares worth $2,635,000 following an acquisition of 124 shares. CAP Partners LLC expanded its holdings by 2.1%, now owning 6,054 shares valued at $489,000 after purchasing 125 additional shares. Investment Advisory Group LLC also raised its stake by 2.1%, acquiring 126 more shares to reach a total of 6,182 shares worth $499,000. Currently, institutional investors hold 26.76% of Walmart’s stock.

Walmart Stock Overview

Walmart's financial metrics include a quick ratio of 0.23, a current ratio of 0.85, and a debt-to-equity ratio of 0.42. The company boasts a market capitalization of $756.10 billion, with a price-to-earnings ratio of 38.98 and a price-to-earnings-growth ratio of 4.49. The stock has a beta of 0.54, with a 50-day moving average price of $85.56 and a 200-day average price of $76.62.

Walmart recently reported its earnings results on November 19th, posting $0.58 earnings per share for the quarter, which surpassed analysts’ expectations of $0.53 by $0.05. The company achieved a return on equity of 21.78% and a net margin of 2.92%. Quarterly revenue reached $169.59 billion, exceeding the consensus estimate of $167.69 billion. This marks a 5.5% increase in revenue year-over-year compared to the prior year's quarter earnings of $0.51 per share. Analysts forecast that Walmart Inc. will report earnings of $2.47 per share for the current fiscal year.

About Walmart

Walmart Inc. operates a vast retail, wholesale, and eCommerce presence globally. The company is segmented into Walmart U.S., Walmart International, and Sam's Club. Walmart manages supercenters, supermarkets, hypermarkets, warehouse clubs, and discount stores under various brands, including Walmart and Walmart Neighborhood Market. They also run membership-only warehouse clubs and several eCommerce platforms.

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