KeyCorp Forecasts Strong Price Appreciation for Walmart (NYSE:WMT) Stock

Walmart (NYSE:WMT) had its price target upped by analysts at KeyCorp from $88.00 to $96.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the retailer’s stock. KeyCorp’s price objective would suggest a potential upside of 8.70% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Telsey Advisory Group raised their target price on shares of Walmart from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday. DA Davidson lifted their price objective on shares of Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Bank of America lifted their price target on shares of Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. The Goldman Sachs Group lifted their price target on shares of Walmart from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.49.

Walmart Stock Performance

Shares of WMT opened at $88.32 on Wednesday. The company has a 50-day simple moving average of $81.92 and a 200-day simple moving average of $73.54. The company has a quick ratio of 0.22, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $709.94 billion, a PE ratio of 36.25, a P/E/G ratio of 4.33 and a beta of 0.51. Walmart has a 52-week low of $49.85 and a 52-week high of $88.64.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, beating 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 firm had revenue of $169.59 billion for the quarter, compared to analysts’ expectations of $167.69 billion. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Walmart will post 2.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Walmart

In other Walmart news, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the completion of the sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. This represents a 0.66 % 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 R. Furner sold 13,125 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $82.96, for a total value of $1,088,850.00. Following the completion of the transaction, the executive vice president now owns 593,040 shares in the company, valued at $49,198,598.40. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Walmart

A number of hedge funds have recently added to or reduced their stakes in WMT. Price T Rowe Associates Inc. MD increased its holdings in Walmart by 181.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after buying an additional 36,625,314 shares during the last quarter. Jennison Associates LLC boosted its position 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 valued at $1,492,200,000 after acquiring an additional 15,290,936 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of 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 during the period. FMR LLC boosted its position in shares of Walmart by 12.9% in the third 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 period. Finally, International Assets Investment Management LLC lifted its position in Walmart by 8,814.4% in the third quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock worth $562,280,000 after purchasing an additional 6,885,106 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

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.