Walmart (NYSE:WMT) Issues Q3 2023 Earnings Guidance

Walmart (NYSE:WMTGet Rating) issued an update on its third quarter 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.29-$1.32 for the period, compared to the consensus EPS estimate of $1.29. The company issued revenue guidance of $146.17 billion-$146.17 billion, compared to the consensus revenue estimate of $145.61 billion. Walmart also updated its FY 2023 guidance to $5.75-$5.88 EPS.

Walmart Stock Performance

Shares of WMT traded down $4.52 on Friday, reaching $128.87. 269,760 shares of the company’s stock traded hands, compared to its average volume of 6,263,060. The company has a current ratio of 0.84, a quick ratio of 0.24 and a debt-to-equity ratio of 0.40. The stock has a market cap of $349.78 billion, a PE ratio of 26.11, a PEG ratio of 4.19 and a beta of 0.52. The stock’s 50 day simple moving average is $132.60 and its two-hundred day simple moving average is $136.13. Walmart has a 52-week low of $117.27 and a 52-week high of $160.77.

Walmart (NYSE:WMTGet Rating) last issued its quarterly earnings results on Tuesday, August 16th. The retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.17. Walmart had a return on equity of 18.95% and a net margin of 2.36%. The company had revenue of $152.86 billion during the quarter, compared to the consensus estimate of $149.96 billion. During the same period last year, the business posted $1.78 earnings per share. Walmart’s revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that Walmart will post 5.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WMT. Piper Sandler began coverage on Walmart in a report on Wednesday, August 3rd. They set a neutral rating and a $135.00 price objective for the company. The Goldman Sachs Group increased their price objective on Walmart from $135.00 to $155.00 and gave the company a buy rating in a report on Wednesday, August 17th. Cowen reduced their price objective on Walmart from $180.00 to $150.00 and set an outperform rating for the company in a report on Tuesday, July 26th. JPMorgan Chase & Co. set a $128.00 price objective on Walmart in a report on Tuesday, August 16th. Finally, Credit Suisse Group raised their price target on Walmart from $133.00 to $145.00 and gave the stock an outperform rating in a report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $151.41.

Insider Transactions at Walmart

In other news, major shareholder Alice L. Walton sold 931,768 shares of Walmart stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $140.03, for a total value of $130,475,473.04. Following the transaction, the insider now owns 285,607,867 shares in the company, valued at $39,993,669,616.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $127.05, for a total value of $1,233,401.40. Following the transaction, the chief executive officer now owns 1,507,454 shares in the company, valued at $191,522,030.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 931,768 shares of Walmart stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $140.03, for a total value of $130,475,473.04. Following the completion of the transaction, the insider now owns 285,607,867 shares in the company, valued at approximately $39,993,669,616.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,142,416 shares of company stock worth $295,973,941. Company insiders own 47.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WMT. Zions Bancorporation N.A. increased its holdings in Walmart by 36.8% during the 1st quarter. Zions Bancorporation N.A. now owns 4,820 shares of the retailer’s stock valued at $718,000 after purchasing an additional 1,296 shares during the period. qPULA Trading Management LP purchased a new position in Walmart during the 1st quarter valued at about $647,000. Wimmer Associates 1 LLC increased its holdings in Walmart by 3.3% during the 1st quarter. Wimmer Associates 1 LLC now owns 4,189 shares of the retailer’s stock valued at $624,000 after purchasing an additional 135 shares during the period. Ethic Inc. increased its holdings in Walmart by 29.1% during the 1st quarter. Ethic Inc. now owns 2,472 shares of the retailer’s stock valued at $368,000 after purchasing an additional 557 shares during the period. Finally, Wexford Capital LP purchased a new position in Walmart during the 2nd quarter valued at about $365,000. Hedge funds and other institutional investors own 31.26% of the company’s stock.

Walmart Company Profile

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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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.

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Earnings History and Estimates for Walmart (NYSE:WMT)

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