In what was an interesting development for the massive retail company, one Walmart EVP has sold more than 2,000 shares in WMT. Indeed, executive Daniel J. Bartlett officially offloaded 2,065 of his holdings in the company on Tuesday, with an average price of $80.69.
The total transactions were worth more than $166,600, with the executive vice president still owning 457,493 shares in the company. Earlier this week, Walmart had gained despite a dipping stock market. Now, all eyes are on the upcoming earnings report and what it could say.
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Walmart EVP Offloads 2,000 Shares as WMT Awaits Crucial Report
There are few brands in the United States as well-known as Walmart. The mammoth retailer has become a fixture and is still one of the strongest companies within its field. Despite the emergence of tech stocks, Walmart (WMT) still remains in the top 15 largest companies by market cap.
Yet, it has experienced declining value throughout this week. After a rather small slump, one Walmart EVP sold more than 2,000 in shares as WMT traded at $81.22 Wednesday. Moreover, the trading volume mid-week was down to 11,064,070. That was a drop from its average volume above 17,100,000.
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As with most stocks throughout October, all eyes are on its upcoming earnings release. The company is projected to reveal an EPS of $0.53, an increase of almost 4% over last year’s Q3 performance. Additionally, revenue is forecasted at $167.55 billion. That would be a 4.19% increase over the same quarter in 2023.
The retail sector is a strong industry, and WMT could get a boost from positive earnings. Roth Mkm recently gave the company a buy rating. Moreover, they increased its price target to $81. Additionally, Oppenheimer took it a step further, giving the stock an outperform rating while increasing its price target to $90.