Walmart (NYSE:WMT) Price Target Raised to $92.00 at Royal Bank of Canada

Walmart (NYSE:WMT) had its target price upped by Royal Bank of Canada from $88.00 to $92.00 in a research report sent to investors on Monday. The brokerage currently has an overweight rating on the retailer’s stock.

Several other brokerages also recently weighed in on WMT. Roth Mkm boosted their target price on shares of Walmart from $71.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Barclays boosted their price objective on shares of Walmart from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Guggenheim lifted their target price on shares of Walmart from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. StockNews.com raised Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company lifted their price objective on Walmart from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $86.71.

Walmart Stock Performance

Walmart stock opened at $84.09 on Monday. Walmart has a fifty-two week low of $49.85 and a fifty-two week high of $85.79. The company has a market capitalization of $675.94 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 4.20 and a beta of 0.51. The stock has a fifty day moving average of $81.43 and a two-hundred day moving average of $73.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80.

Insider Activity at Walmart

In related news, major shareholder Alice L. Walton sold 2,709,163 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total transaction of $209,607,941.31. Following the completion of the sale, the insider now directly owns 630,501,148 shares of the company’s stock, valued at approximately $48,781,873,820.76. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John D. Rainey sold 3,000 shares of Walmart stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total transaction of $232,440.00. Following the sale, the executive vice president now directly owns 384,165 shares in the company, valued at $29,765,104.20. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,337,337 shares of company stock worth $958,823,647. 45.58% of the stock is currently owned by company insiders.

Institutional Trading of Walmart

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in Walmart by 181.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after purchasing an additional 36,625,314 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Walmart by 479.6% in the third quarter. Jennison Associates LLC now owns 18,479,259 shares of the retailer’s stock worth $1,492,200,000 after buying an additional 15,290,936 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Walmart by 284.0% in the first quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock valued at $669,227,000 after acquiring an additional 8,225,552 shares in the last quarter. FMR LLC boosted its stake in 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 last quarter. Finally, International Assets Investment Management LLC grew its holdings in Walmart by 8,814.4% during the 3rd quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock worth $562,280,000 after acquiring an additional 6,885,106 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

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.