KeyCorp Comments on Walmart Inc.’s Q2 2024 Earnings (NYSE:WMT)

Walmart Inc. (NYSE:WMT – Get Rating) – Research analysts at KeyCorp upped their Q2 2024 earnings per share (EPS) estimates for shares of Walmart in a note issued to investors on Thursday, May 18th. KeyCorp analyst B. Thomas now forecasts that the retailer will post earnings per share of $1.68 for the quarter, up from their prior forecast of $1.66. The consensus estimate for Walmart’s current full-year earnings is $6.20 per share. KeyCorp also issued estimates for Walmart’s Q3 2024 earnings at $1.45 EPS, Q4 2024 earnings at $1.58 EPS, FY2024 earnings at $6.20 EPS and FY2025 earnings at $6.90 EPS.

Several other research analysts have also commented on WMT. UBS Group lifted their target price on Walmart from $168.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Gordon Haskett raised Walmart from an “accumulate” rating to a “buy” rating and raised their price target for the stock from $155.00 to $165.00 in a report on Wednesday, April 19th. Royal Bank of Canada raised their price target on Walmart from $160.00 to $164.00 in a report on Friday. Stephens reissued an “overweight” rating and issued a $170.00 price target on shares of Walmart in a report on Wednesday, April 5th. Finally, Wells Fargo & Company raised their price target on Walmart from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 6th. Five research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.13.

Walmart Price Performance

Shares of WMT opened at $149.91 on Monday. The firm has a market cap of $404.36 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 4.47 and a beta of 0.48. The stock has a 50 day moving average of $147.97 and a 200-day moving average of $145.75. The company has a current ratio of 0.82, a quick ratio of 0.21 and a debt-to-equity ratio of 0.71. Walmart has a 52 week low of $117.27 and a 52 week high of $154.64.

Walmart (NYSE:WMT – Get Rating) last issued its earnings results on Thursday, May 18th. The retailer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.32 by $0.15. The company had revenue of $152.30 billion during the quarter, compared to analyst estimates of $147.91 billion. Walmart had a return on equity of 21.30% and a net margin of 1.82%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS.

Walmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, December 7th. Walmart’s payout ratio is 54.81%.

Insider Buying and Selling

In related news, Director S Robson Walton sold 157,406 shares of Walmart stock in a transaction on Friday, March 10th. The stock was sold at an average price of $138.00, for a total value of $21,722,028.00. Following the transaction, the director now directly owns 260,926,943 shares in the company, valued at approximately $36,007,918,134. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director S Robson Walton sold 157,406 shares of Walmart stock in a transaction on Friday, March 10th. The stock was sold at an average price of $138.00, for a total value of $21,722,028.00. Following the transaction, the director now directly owns 260,926,943 shares in the company, valued at approximately $36,007,918,134. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rachel L. Brand sold 9,334 shares of Walmart stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $141.83, for a total value of $1,323,841.22. Following the transaction, the executive vice president now owns 155,723 shares in the company, valued at approximately $22,086,193.09. The disclosure for this sale can be found here. Insiders have sold 21,044,002 shares of company stock worth $2,981,168,308 in the last three months. 47.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WMT. My Personal CFO LLC purchased a new position in shares of Walmart during the fourth quarter valued at $25,000. Sageworth Trust Co boosted its position in Walmart by 2,414.3% during the first quarter. Sageworth Trust Co now owns 176 shares of the retailer’s stock valued at $26,000 after purchasing an additional 169 shares during the last quarter. Bellwether Advisors LLC boosted its position in Walmart by 112.0% during the third quarter. Bellwether Advisors LLC now owns 212 shares of the retailer’s stock valued at $27,000 after purchasing an additional 112 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Walmart during the fourth quarter valued at $27,000. Finally, JDM Financial Group LLC acquired a new stake in Walmart during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 31.27% of the company’s stock.

About Walmart

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Walmart, Inc engages in retail and wholesale business. The company offers an assortment of merchandise and services at everyday low prices. It operates through the following business segments: Walmart U.S., Walmart International, and Sam’s Club. The Walmart U.S. segment operates as a merchandiser of consumer products, operating under the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as walmart.com and other eCommerce brands.