Walmart (NYSE:WMT) Sets New 12-Month High After Strong Earnings

Walmart Inc. (NYSE:WMT) reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $87.62 and last traded at $86.92, with a volume of 4335722 shares trading hands. The stock had previously closed at $84.08.

The retailer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $169.59 billion for the quarter, compared to the consensus estimate of $167.69 billion. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WMT. Evercore ISI lifted their target price on shares of Walmart from $66.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com raised shares of Walmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Bank of America lifted their price objective on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Morgan Stanley boosted their price objective on Walmart from $82.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein assumed coverage on Walmart in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $95.00 target price for the company. One analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Walmart has an average rating of “Buy” and a consensus target price of $86.71.

Insider Activity at Walmart

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $82.79, for a total transaction of $2,411,175.96. Following the completion of the sale, the chief executive officer now directly owns 3,843,929 shares in the company, valued at $318,238,881.91. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Rainey sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $82.12, for a total value of $246,360.00. Following the completion of the sale, the executive vice president now directly owns 378,165 shares of the company’s stock, valued at $31,054,909.80. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is owned by corporate insiders.

Institutional Trading of Walmart

Several large investors have recently modified their holdings of the business. WFA Asset Management Corp raised its stake in Walmart by 201.0% during the first quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock worth $126,000 after acquiring an additional 1,397 shares during the period. Dupont Capital Management Corp lifted its position in shares of Walmart by 165.4% in the first quarter. Dupont Capital Management Corp now owns 270,147 shares of the retailer’s stock worth $16,255,000 after purchasing an additional 168,346 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Walmart by 307.1% during the 1st quarter. Empowered Funds LLC now owns 160,292 shares of the retailer’s stock worth $9,645,000 after purchasing an additional 120,919 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Walmart by 136.3% in the first quarter. Osaic Holdings Inc. now owns 1,751,583 shares of the retailer’s stock worth $105,384,000 after purchasing an additional 1,010,327 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of Walmart by 24.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 23,596 shares of the retailer’s stock valued at $1,420,000 after acquiring an additional 4,624 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Performance

The stock’s 50-day simple moving average is $81.43 and its two-hundred day simple moving average is $73.15. The stock has a market cap of $697.80 billion, a price-to-earnings ratio of 43.80, a price-to-earnings-growth ratio of 4.20 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80.

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.