Citigroup Issues Positive Forecast for Walmart (NYSE:WMT) Stock Price

Walmart (NYSE:WMT) had its target price lifted by Citigroup from $98.00 to $120.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the retailer’s stock.

Other equities analysts have also issued reports about the company. BMO Capital Markets raised their target price on Walmart from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Jefferies Financial Group boosted their target price on Walmart from $105.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Truist Financial upped their target price on Walmart from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Bank of America boosted their price objective on shares of Walmart from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein upped their price objective on shares of Walmart from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Walmart has a consensus rating of “Moderate Buy” and a consensus price target of $98.08.

Walmart Stock Down 0.5 %

Walmart stock opened at $102.45 on Tuesday. Walmart has a twelve month low of $55.85 and a twelve month high of $103.11. 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 firm has a market cap of $822.98 billion, a PE ratio of 42.04, a P/E/G ratio of 4.25 and a beta of 0.55. The firm’s 50 day moving average price is $94.27 and its two-hundred day moving average price is $84.59.

Walmart (NYSE:WMT) last posted its quarterly earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The business had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. During the same period in the prior year, the business posted $0.51 earnings per share. Walmart’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts predict that Walmart will post 2.48 EPS for the current fiscal year.

Insider Transactions at Walmart

In other Walmart news, EVP Daniel J. Bartlett sold 1,830 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.07, for a total transaction of $166,658.10. Following the sale, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John D. Rainey sold 38,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $98.80, for a total transaction of $3,754,400.00. Following the completion of the transaction, the executive vice president now directly owns 257,281 shares of the company’s stock, valued at approximately $25,419,362.80. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 175,177 shares of company stock valued at $16,403,728. 45.58% of the stock is owned by insiders.

Institutional Trading of Walmart

Hedge funds and other institutional investors have recently modified their holdings of the stock. Syverson Strege & Co increased its stake in shares of Walmart by 14.5% in the 4th quarter. Syverson Strege & Co now owns 12,063 shares of the retailer’s stock valued at $1,090,000 after buying an additional 1,524 shares during the period. First American Trust FSB boosted its holdings in Walmart by 1.6% in the fourth quarter. First American Trust FSB now owns 199,329 shares of the retailer’s stock valued at $18,009,000 after acquiring an additional 3,159 shares during the last quarter. Heritage Wealth Management Inc. CA increased its position in Walmart by 47.8% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 10,407 shares of the retailer’s stock worth $940,000 after purchasing an additional 3,367 shares during the period. Zions Bancorporation N.A. raised its holdings in Walmart by 4.0% during the 4th quarter. Zions Bancorporation N.A. now owns 5,657 shares of the retailer’s stock worth $511,000 after purchasing an additional 220 shares during the last quarter. Finally, TIAA Trust National Association lifted its position in Walmart by 7.2% during the 4th quarter. TIAA Trust National Association now owns 521,987 shares of the retailer’s stock valued at $47,162,000 after purchasing an additional 34,870 shares during the period. Institutional investors and hedge funds 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.