Walmart (NYSE:WMT) Announces Earnings Results

Walmart (NYSE:WMT) released its earnings results on Thursday. The retailer reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01, Briefing.com reports. The company had revenue of $160.80 billion during the quarter, compared to analysts’ expectations of $159.65 billion. Walmart had a return on equity of 21.47% and a net margin of 2.23%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.50 EPS. Walmart updated its FY 2024 guidance to $6.40-$6.48 EPS and its FY24 guidance to 6.40-6.48 EPS.

Walmart Stock Down 6.8 %

Shares of WMT stock traded down $11.55 during trading on Thursday, reaching $158.23. The company’s stock had a trading volume of 11,778,081 shares, compared to its average volume of 5,847,286. The business has a fifty day moving average price of $162.53 and a 200-day moving average price of $157.76. The company has a quick ratio of 0.26, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. Walmart has a one year low of $136.09 and a one year high of $169.94. The company has a market cap of $425.89 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 3.46 and a beta of 0.53.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WMT. Bank of America lifted their price objective on Walmart from $175.00 to $190.00 in a research report on Wednesday, August 9th. Robert W. Baird boosted their price target on shares of Walmart from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Raymond James raised their price objective on shares of Walmart from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. StockNews.com began coverage on shares of Walmart in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company. Finally, Oppenheimer increased their price target on Walmart from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. Four analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Walmart currently has an average rating of “Moderate Buy” and a consensus target price of $178.36.

Insider Transactions at Walmart

In other Walmart news, EVP John R. Furner sold 4,375 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $162.00, for a total value of $708,750.00. Following the completion of the transaction, the executive vice president now directly owns 269,119 shares in the company, valued at $43,597,278. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP John D. Rainey sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $164.37, for a total value of $164,370.00. Following the completion of the sale, the executive vice president now directly owns 167,735 shares in the company, valued at approximately $27,570,601.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John R. Furner sold 4,375 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $162.00, for a total value of $708,750.00. Following the completion of the sale, the executive vice president now owns 269,119 shares in the company, valued at approximately $43,597,278. The disclosure for this sale can be found here. Insiders sold a total of 31,166 shares of company stock worth $5,066,701 in the last three months. Insiders own 46.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Advisory Inc. bought a new position in Walmart during the first quarter worth $203,000. Tyler Stone Wealth Management bought a new stake in shares of Walmart during the 2nd quarter worth about $180,000. Covestor Ltd grew its stake in Walmart by 31.7% in the 1st quarter. Covestor Ltd now owns 1,162 shares of the retailer’s stock valued at $173,000 after buying an additional 280 shares during the last quarter. Pacific Center for Financial Services bought a new position in Walmart in the 1st quarter valued at about $141,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Walmart during the fourth quarter worth approximately $114,000. 33.18% of the stock is owned by institutional investors and hedge funds.

Walmart Company Profile

Walmart Inc engages in the operation of retail, wholesale, and other units 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, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.