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Sam’s Club, the $86 billion division of Walmart Inc , introduced a fresh workforce compensation plan, which boosted pay for close to 100,000 frontline associates and provided guidance for longer-term financial futures.
More engaged workers proved productive, offered better service, and were more likely to stay, especially as competition heated up in the retail space.
Sam’s Club’s new plan proposes increasing associate hourly wages by 3%—6% based on years of service. The plan sets predictable pay increase milestones.
Also Read: Evaluating Walmart Against Peers In Consumer Staples Distribution & Retail Industry
With these new compensation investments, the average hourly rate for Sam’s Club associates will likely exceed $19, with the potential to earn thousands of dollars annually in bonuses. In the last five years alone, Sam’s Club raised the average hourly wage by close to 30%.
In July, Walmart Canada raised the hourly wage for close to 40,000 of its store associates amid easing inflation and rising unemployment in Canada. In June, the company announced bonuses for U.S. hourly store workers benefiting 700,000 front-line staff.
Amazon.Com Inc is aggressively chasing Walmart’s U.S. grocery market share by expanding Prime benefits, including discounts on over 3,000 grocery items. Walmart led the U.S. grocery market with a 23.6% market share in 2023, as per Statista.
Walmart reported second-quarter sales growth of 4.8% to $169.34 billion, beating the analyst consensus of $168.57 billion. At Sam’s Club, same-store sales rose 5.2% year over year, excluding fuel.
Walmart stock is up 46% in the last 12 months. Investors can gain exposure to the stock through iShares Russell 1000 Value ETF and Vanguard Consumer Staples ETF .
Price Action: WMT stock is down 2.53% at $78.52 at last check Tuesday.
Image via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
BofA Securities analyst Justin Post maintained a Buy rating on Amazon.Com Inc with a price target of $210.
The re-rating reflects CEO Andy Jassy’s goal for a leaner Amazon by the end of the first quarter of 2025, translating into an estimated $700 million in cost savings and Amazon Web Services’ multi-year, multi-billion-dollar co-investment into custom AI chips with Intel Corp .
Post noted that Intel chips would be more cost-effective for customers than alternatives. Intel will produce custom AI fabric chips for AWS that will be built on Intel 18A, the company’s most advanced process node.
According to the analyst, AWS remains well-positioned to capture broad-based AI customer demand due to its more diverse and growing product offering.
Post estimates $700 million annually in cost savings under Jassy’s plans to increase Amazon’s individual contributor-to-manager ratio by slashing management layers and making employees return to the office five days a week beginning in January.
Assuming a non-warehouse workforce of 400,000 and a current manager-to-contributor ratio of 1 to 6, at least 2.5% of employees (around 7,000) are projected to shift from manager roles to contributor positions, and if the difference in pay is $100,000.
Post’s price target is based on his sum-of-the-parts (SOTP) analysis, which values the 1P retail business at 1.2 times 2025E Revenue, the 3P retail business at 3.0 times 2025E Revenue, AWS at 8.0 times 2025 Sales, and the advertising business at 5.0 times 2025 Sales.
For 2025E, Post’s 8.0 times AWS multiple is relatively below his SaaS comps at 8.5 times, his 1.2 times GMV multiple is a discount to his retail comps at 1.3 times, and his 5.0 times advertising multiple is a discount to his digital advertising comps at 5.2 times.
The analyst deems some conglomerate discounts as warranted with elevated regulatory risk but long-term notes that in-line to discount multiples are warranted given growth rates more than peers.
Price Action: AMZN stock is up 1.22% at $187.15 at the last check on Tuesday.
Image via Shutterstock
Latest Ratings for AMZN
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2022 | Deutsche Bank | Initiates Coverage On | Buy | |
Feb 2022 | Tigress Financial | Maintains | Buy | |
Feb 2022 | Credit Suisse | Maintains | Outperform |
View More Analyst Ratings for AMZN
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Amazon.com, Inc. shares are trading higher Tuesday after the company announced the expansion of its collaboration with Intel Corp. on Monday.
What To Know:
After Monday's closing bell, Amazon announced the expansion of its collaboration with Intel Corp. to produce an AI fabric chip for AWS on Intel 18A and a custom Xeon 6 chip on Intel 3. AWS and Intel have a more than 18-year relationship and said the companies also intend to explore the potential for further designs to be produced by Intel based on Intel 18A and future process nodes including Intel 18AP and Intel 14A.
Read Next: What Happened With MicroStrategy Stock Today?
What Else: Amazon's Prime Big Deal Days, the company's pre-holiday savings event, will return on Oct. 8 and Oct. 9 to kick off the holiday season. “We’re gearing up for another exciting holiday shopping season, filled with unbeatable deals on beloved brands, seasonal products, and popular gifts available exclusively for Prime members,” says Vice President of Prime Worldwide, Jamil Ghani.
According to data from Benzinga Pro, Amazon's stock is trading above its 50-day moving average of $179.64 and near its 52-week high of $201.20.
AMZN Stock Prediction 2024:
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Amazon.com have an average 1-year price target of $224.15, representing an expected upside of 18.86%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Amazon.com, while 39 analysts have bullish ratings. The street high price target from JMP Securities is $265, while the street low from Benchmark is $200.
AMZN Price Action: According to Benzinga Pro, Amazon shares are up 1.90% at $188.40 at the time of publication Tuesday.
Read Also:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Intel Corp shares climbed in early trading on Tuesday, after the company reported a multi-billion-dollar deal with Amazon.com Inc's NASDAQ:AMZN cloud unit and received a U.S. semiconductor grant.
Here are some key analyst takeaways.
BofA Securities On Intel
Analyst Vivek Arya reiterated an Underperform rating and price target of $21.
Intel announced a collaboration with Amazon Web Services (AWS) on a custom AI fabric chip and custom Xeon server CPU chip, as well as a funding of $3 billion for government chips, Arya said in a note.
"AWS win sounds impressive but INTC has already been supplying AWS with CPU for a long time so customization isn’t exactly something new, while the AI fabric (networking) win on 18A will probably matter only from CY26," said Arya.
While the company competes against tough Ethernet switch incumbency from companies like Broadcom Inc , the analyst wrote. Intel's future as "a leading-edge manufacturing entity" depends on its ability to execute on the next-gen 18A manufacturing node,” he added.
Check out other analyst stock ratings.
Northland Capital Markets On Intel
Analyst Gus Richard maintained an Outperform rating and price target of $42.
Intel struck a deal worth $3.5 billion to make chips for the US military, of which it was awarded up to $3 billion for Secure Enclave, Richard said. Intel is the only alternative to Taiwan Semiconductor Mfg. Co. Ltd. that the U.S. military has for advanced logic chips, as the Department of Defense requires the chips to be manufactured on US soil, he added.
"AWS and Intel announced a co-investment in custom chip designs under a multi-year, multi-billion-dollar framework covering products and wafers from Intel," the analyst wrote. The U.S. government could continue providing more funding to the company, he further stated.
KeyBanc Capital Markets On Intel
Analyst John Vinh reaffirmed a Sector Weight rating on the stock.
Apart from the government funding and AWS deal, Intel announced several updates on its $10 billion cost savings plan, Vinh said. The updates indicated the company will be "more than halfway through the 15K employee RIF target by year-end and will reduce/exit two-thirds of its real estate globally by year-end," he added.
"We’re very encouraged by these announcements and credit INTC management for being proactive regarding the initiatives that it controls, which is namely cost," the analyst wrote. Intel said it intends to make IFS an independent subsidiary, which is a good decision, he further stated.
INTC Price Action: Shares of Intel had risen by 6.12% to $22.19 at the time of publication on Tuesday.
Read More:
• Intel’s Slow-Burn Strategy: Foundry Revenues ‘Not Till 2027,’ Analyst Predicts Spin-Off Ahead
Photo: Tada Images/Shutterstock.com
Latest Ratings for INTC
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2022 | Morgan Stanley | Downgrades | Equal-Weight | Underweight |
Feb 2022 | Raymond James | Upgrades | Underperform | Market Perform |
Feb 2022 | BMO Capital | Maintains | Market Perform |
View More Analyst Ratings for INTC
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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