Walmart Stock Sees 0.4% Increase Following Analyst Upgrade

Walmart Inc. (NYSE:WMT) saw a rise of 0.4% on Tuesday as the investment firm Evercore ISI upgraded the company's stock, increasing their price target from $82.00 to $85.00. Currently rated as outperform by Evercore ISI, Walmart shares peaked at $81.44 and settled at $81.10 by the end of the trading session. During this mid-day trading period, around 2,195,765 shares changed hands, which was significantly lower than the average daily volume of 17,024,691 shares. The previous closing price was recorded at $80.81.

Other Analysts Share Positive Views

Recently, several research firms have also issued favorable reports on Walmart. Guggenheim raised its price objective for Walmart shares from $75.00 to $81.00, categorizing the stock as a "buy" on August 16th. Similarly, Roth MKM updated their price target from $71.00 to $81.00, maintaining a "buy" rating. Furthermore, BMO Capital Markets confirmed an "outperform" rating while establishing a price target of $80.00. Additionally, Morgan Stanley increased its price objective from $75.00 to $82.00 with an "overweight" rating. On September 23rd, Redburn Atlantic elevated Walmart's rating to "strong buy." For those tracking the stock, one analyst has placed a hold rating, while twenty-nine analysts have a buy rating, and two analysts describe it as a strong buy. According to data from MarketBeat.com, Walmart has an overall consensus rating of "Buy" with an average price target of $83.51.

Insider Transactions

In terms of insider trading activities, Executive Vice President Daniel J. Bartlett sold 2,065 shares on October 15th at an average price of $80.69, totaling approximately $166,624.85. After this transaction, Bartlett holds 457,493 shares worth around $36,915,110.17, indicating no significant change in his position. This sale was reported to the SEC, which is accessible through their official site. Notably, major shareholder Alice L. Walton also sold 2,709,163 shares on September 3rd at an average price of $77.37, resulting in proceeds of approximately $209,607,941.31. Following this trade, Walton retains a vast ownership of 630,501,148 shares valued at $48,781,873,820.76. Over the last 90 days, insiders have sold a total of 12,337,337 shares valued at about $958,267,901, with insiders holding 45.58% of the stock.

Institutional Investors Show Increased Interest

Moreover, multiple hedge funds have recently adjusted their stakes in Walmart. Vanguard Group Inc. boosted its shareholding by 199.4% in the first quarter, now owning 411,745,334 shares worth an estimated $24,774,717,000 after acquiring 274,229,968 additional shares. Price T Rowe Associates Inc. MD grew its stake by 181.0%, now possessing 56,861,234 shares valued at about $3,421,342,000 following a purchase of 36,625,314 shares. The Swiss National Bank also increased its investment by 187.4%, owning 13,303,200 shares valued at $800,454,000 after adding 8,674,100 shares. The Canada Pension Plan Investment Board raised its stake by an impressive 284.0%, currently holding 11,122,273 shares worth $669,227,000 after acquiring 8,225,552 additional shares. Sumitomo Mitsui Trust Holdings Inc. similarly raised its investment by 184.1%, with 12,567,533 shares now valued at approximately $756,188,000. Overall, 26.76% of Walmart stock is currently owned by institutional investors.

Financial Overview of Walmart

Walmart operates with a debt-to-equity ratio of 0.46, a current ratio of 0.80, and a quick ratio of 0.22. The company maintains a 50-day simple moving average of $78.14 and a 200-day moving average of $69.83. Walmart possesses a significant market capitalization of $660.62 billion, with a price-to-earnings ratio of 34.71 and a PEG ratio of 4.07, along with a beta of 0.51. In its last quarterly earnings report on August 15th, Walmart reported earnings per share of $0.67, which surpassed the analysts' expectations of $0.65. The retailer achieved a return on equity of 21.72% and has a net margin of 2.34%. For the quarter, Walmart recorded revenue of $169.30 billion, exceeding predictions of $168.56 billion. Compared to the same quarter last year, their earnings per share increased from $0.61, showcasing a year-over-year revenue growth of 4.7%. Analysts forecast that Walmart will post an earnings per share of 2.44 for the current fiscal year.

About Walmart

Walmart Inc. engages in the operation of retail, wholesale, eCommerce, and other units globally. The company operates through three main segments: Walmart U.S., Walmart International, and Sam's Club. Walmart offers a variety of retail formats, including supercenters, supermarkets, hypermarkets, warehouse clubs, and discount stores under the Walmart and Walmart Neighborhood Market brands, alongside various eCommerce platforms like walmart.com and others.

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