These 5 Companies Recently Cut Their Profit Forecast

4. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 60

Walmart Inc. (NYSE:WMT) is one of the biggest American wholesalers. On May 17, Walmart Inc. (NYSE:WMT) reported its Q1 results, posting earnings per share of $1.30, missing estimates by $0.18. The GAAP EPS of $0.74 also fell short of analysts’ predictions by $0.76. 

On May 17, Walmart Inc. (NYSE:WMT) announced a 25% decline in quarterly earnings and lowered its full-year profit forecast on the back of soaring fuel and labor costs that compressed its bottom line. In addition to that, the rampant inflation has led customers to switch to basic products that have lower margins. The supply chain constraints are also impacting inventory levels.

According to Insider Monkey’s database, Walmart Inc. (NYSE:WMT) was part of 60 hedge fund portfolios at the end of Q1 2022, compared to 63 funds in the prior quarter. Rajiv Jain’s GQG Partners is the leading stakeholder of the company, with 15.4 million shares worth about $2.3 billion.