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
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.
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.
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