#5 - Walmart (NYSE:WMT)
Moving outside the technology sector, investors have many reasons to believe Walmart Inc. (NYSE: WMT) can continue to be a top stock to own. In a year that has been challenging for retail and consumer staples stocks, WMT stock has delivered an impressive 57% gain. That comes after the company issued a 3-for-1 stock split in January.
Despite what were expected to be tough comparisons to 2023, Walmart has continued to increase revenue and earnings on a year-over-year basis. Analysts will point to a resilient consumer. However, a key finding in recent earnings reports is how Walmart is capturing market share of consumers who may not have previously shopped at Walmart. Plus, through its Walmart+ service, the company is growing its digital presence. In fact, in the second quarter of 2024, e-commerce sales were up 21%.
In a common theme with the stocks on this list, Walmart stock is currently trading near its consensus price of $83.83. However, analysts are raising their price targets ahead of the company’s earnings report in November. Plus, despite a yield of just 1%, Walmart is a dividend king with 52 consecutive years of dividend increases.
About Walmart
Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce 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.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.
Read More - Current Price
- $89.45
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 29 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $91.88 (2.7% Upside)
