Walmart (WMT) Given a $120.00 Price Target at Bank of America

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Walmart (NYSE:WMT) has been given a $120.00 target price by Bank of America in a note issued to investors on Friday, TipRanks reports. The firm currently has a “buy” rating on the retailer’s stock. Bank of America‘s price objective suggests a potential upside of 18.98% from the stock’s current price.

A number of other brokerages have also recently weighed in on WMT. DZ Bank reaffirmed a “neutral” rating on shares of Walmart in a research note on Tuesday, February 19th. Guggenheim reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Walmart in a research note on Tuesday, February 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $108.00 price objective on shares of Walmart in a research note on Wednesday, February 20th. Barclays reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Walmart in a research note on Wednesday, February 20th. Finally, KeyCorp lifted their price objective on Walmart from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Walmart presently has an average rating of “Hold” and a consensus price target of $107.13.

Shares of NYSE WMT traded down $0.45 during trading on Friday, reaching $100.86. The stock had a trading volume of 9,263,265 shares, compared to its average volume of 7,104,785. Walmart has a fifty-two week low of $81.78 and a fifty-two week high of $106.21. The company has a current ratio of 0.80, a quick ratio of 0.23 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $297.01 billion, a PE ratio of 20.54, a PEG ratio of 4.59 and a beta of 0.36.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, May 16th. The retailer reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.11. Walmart had a return on equity of 18.60% and a net margin of 1.30%. The business had revenue of $122.95 billion during the quarter, compared to analysts’ expectations of $124.51 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that Walmart will post 4.76 earnings per share for the current year.

In other Walmart news, EVP Judith J. Mckenna sold 4,243 shares of Walmart stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $100.19, for a total transaction of $425,106.17. Following the completion of the sale, the executive vice president now directly owns 225,373 shares of the company’s stock, valued at approximately $22,580,120.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John R. Furner sold 10,000 shares of Walmart stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $101.82, for a total value of $1,018,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,255,221 shares of company stock valued at $1,407,521,976. 51.11% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clarfeld Financial Advisors LLC purchased a new stake in shares of Walmart in the 4th quarter valued at about $25,000. Ipswich Investment Management Co. Inc. purchased a new stake in shares of Walmart in the 4th quarter valued at about $26,000. Ironwood Financial llc purchased a new stake in shares of Walmart in the 4th quarter valued at about $26,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Walmart in the 4th quarter valued at about $28,000. Finally, C J Advisory Inc purchased a new stake in shares of Walmart in the 1st quarter valued at about $29,000. 28.96% of the stock is owned by institutional investors.

About Walmart

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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