Walmart (WMT) Stock Rating Reaffirmed by Royal Bank of Canada
Walmart (NYSE:WMT)‘s stock had its “neutral” rating reaffirmed by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday. They currently have a $90.00 target price on the retailer’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 0.20% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Argus raised shares of Walmart from a “hold” rating to a “buy” rating and boosted their price target for the stock from $87.57 to $100.00 in a research note on Thursday, April 19th. Goldman Sachs Group reissued a “buy” rating and set a $99.00 price target on shares of Walmart in a research note on Monday, April 16th. Deutsche Bank dropped their price target on shares of Walmart to $87.00 and set a “hold” rating for the company in a research note on Thursday, May 10th. Zacks Investment Research downgraded shares of Walmart from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $98.00 price target on shares of Walmart in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $96.59.
Shares of Walmart opened at $90.18 on Thursday, MarketBeat reports. Walmart has a 1 year low of $77.50 and a 1 year high of $109.98. The company has a market cap of $266.76 billion, a PE ratio of 20.40, a P/E/G ratio of 3.31 and a beta of 0.52. The company has a current ratio of 0.73, a quick ratio of 0.20 and a debt-to-equity ratio of 0.46.
In other news, Director S Robson Walton sold 1,190,271 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $84.65, for a total value of $100,756,440.15. Following the completion of the transaction, the director now owns 3,347,254 shares in the company, valued at $283,345,051.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 510,893 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $83.15, for a total transaction of $42,480,752.95. Following the completion of the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $561,144,427. The disclosure for this sale can be found here. Insiders sold 8,792,256 shares of company stock valued at $740,486,626 in the last ninety days. Insiders own 51.11% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WMT. Bank of Montreal Can acquired a new position in shares of Walmart in the second quarter valued at approximately $624,899,000. Amundi Pioneer Asset Management Inc. boosted its holdings in Walmart by 955.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,668,539 shares of the retailer’s stock worth $461,019,000 after purchasing an additional 4,226,117 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in Walmart during the second quarter worth $265,661,000. Thomaspartners Inc. acquired a new position in Walmart during the first quarter worth $229,117,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in Walmart by 8,606.2% during the second quarter. Cornerstone Wealth Management LLC now owns 1,818,288 shares of the retailer’s stock worth $21,648,000 after purchasing an additional 1,797,403 shares during the last quarter. Institutional investors own 29.69% of the company’s stock.
Walmart Company Profile
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, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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