Walmart (NYSE:WMT) Shares Up 0.1% on Strong Earnings

Shares of Walmart Inc. (NYSE:WMT) were up 0.1% on Wednesday following a better than expected earnings announcement. The stock traded as high as $87.09 and last traded at $86.72. Approximately 5,598,800 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 16,784,646 shares. The stock had previously closed at $86.60.

The retailer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The company had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. Walmart’s revenue was up 5.5% compared to the same quarter last year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WMT shares. Wells Fargo & Company raised their price objective on shares of Walmart from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. KeyCorp boosted their price objective on shares of Walmart from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday. Melius Research began coverage on Walmart in a report on Monday, September 23rd. They issued a “buy” rating and a $95.00 target price on the stock. Stifel Nicolaus boosted their price target on Walmart from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Finally, Evercore ISI upped their price target on Walmart from $66.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday. One investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.08.

Insider Buying and Selling

In related news, major shareholder S Robson Walton sold 4,057,369 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at $47,245,498,149.60. This represents a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at $48,781,873,820.76. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,337,337 shares of company stock valued at $958,823,647 in the last ninety days. 45.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Walmart

Hedge funds have recently added to or reduced their stakes in the stock. Oxbow Advisors LLC grew its stake in Walmart by 45.0% in the 3rd quarter. Oxbow Advisors LLC now owns 28,453 shares of the retailer’s stock worth $2,298,000 after acquiring an additional 8,834 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Walmart by 21.9% during the third quarter. Crossmark Global Holdings Inc. now owns 587,001 shares of the retailer’s stock valued at $47,400,000 after purchasing an additional 105,430 shares in the last quarter. Whalerock Point Partners LLC boosted its stake in shares of Walmart by 213.5% during the first quarter. Whalerock Point Partners LLC now owns 29,613 shares of the retailer’s stock valued at $1,782,000 after purchasing an additional 20,167 shares in the last quarter. WFA Asset Management Corp boosted its stake in shares of Walmart by 201.0% during the first quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after purchasing an additional 1,397 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Walmart by 14.9% during the third quarter. Principal Financial Group Inc. now owns 6,235,504 shares of the retailer’s stock valued at $503,517,000 after purchasing an additional 809,352 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors.

Walmart Trading Down 0.4 %

The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $81.58 and its 200-day moving average price is $73.34. The stock has a market capitalization of $693.54 billion, a P/E ratio of 45.09, a P/E/G ratio of 4.19 and a beta of 0.51.

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.