Guggenheim restated their buy rating on shares of Walmart (NYSE:WMT) in a report issued on Thursday, AnalystRatings.com reports. Guggenheim currently has a $125.00 price objective on the retailer’s stock.
“We remain BUY-rated and raise our PT to $125 (from $115). We were encouraged by the 1H momentum and believe today’s result demonstrates WMT’s unique positioning. WMT believes the U.S. consumer remains in relatively good shape and after a softer start to the quarter (May was the weakest month, but still positive), business improved sequentially (June/July both were stronger). U.S. comps were +2.8% (vs. our +2.5% est.) with broad-based strength. The comp included gains in both traffic (+0.6%) and ticket (+2.2%). Traffic accelerated on a two-year basis and the primary reason behind the QoQ deceleration was tough compares.”,” the firm’s analyst commented.
WMT has been the topic of several other reports. KeyCorp raised their target price on shares of Walmart from $120.00 to $125.00 and gave the company an overweight rating in a report on Monday, June 24th. Robert W. Baird set a $115.00 target price on shares of Walmart and gave the company a buy rating in a report on Monday, August 12th. Goldman Sachs Group set a $123.00 target price on shares of Walmart and gave the company a buy rating in a report on Thursday. Morgan Stanley raised their target price on shares of Walmart from $113.00 to $115.00 and gave the company an overweight rating in a report on Monday, June 17th. Finally, Wolfe Research lowered shares of Walmart from a peer perform rating to an underperform rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $113.28.
Walmart (NYSE:WMT) last released its earnings results on Thursday, August 15th. The retailer reported $1.27 EPS for the quarter, beating the consensus estimate of $1.22 by $0.05. Walmart had a net margin of 2.48% and a return on equity of 18.23%. The firm had revenue of $130.40 billion for the quarter, compared to analyst estimates of $129.32 billion. During the same period last year, the firm earned $1.29 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Walmart will post 4.91 EPS for the current year.
In related news, insider Daniel J. Bartlett sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $109.14, for a total transaction of $327,420.00. Following the transaction, the insider now owns 122,673 shares in the company, valued at approximately $13,388,531.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director S Robson Walton sold 1,322,329 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $102.04, for a total transaction of $134,930,451.16. Following the transaction, the director now owns 3,347,511 shares in the company, valued at approximately $341,580,022.44. The disclosure for this sale can be found here. Insiders have sold a total of 3,097,455 shares of company stock worth $321,872,581 in the last quarter. 51.11% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Clarfeld Financial Advisors LLC bought a new stake in Walmart during the 4th quarter valued at $25,000. Krane Funds Advisors LLC bought a new stake in Walmart during the 2nd quarter valued at $26,000. C J Advisory Inc bought a new stake in Walmart during the 1st quarter valued at $29,000. AllSquare Wealth Management LLC increased its stake in Walmart by 235.3% during the 2nd quarter. AllSquare Wealth Management LLC now owns 285 shares of the retailer’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Finally, Mcmillion Capital Management Inc. bought a new stake in Walmart during the 2nd quarter valued at $34,000. Institutional investors own 30.05% of the company’s stock.
Walmart Inc engages in the retail and wholesale operations in various formats 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, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, shoes.com, and samsclub.com; and mobile commerce applications.
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