#2 - Walmart (NYSE:WMT)
Walmart Inc. (NYSE: WMT) has been a shining star in a flattish retail sector. The company continues to deliver year-over-year increases in revenue and earnings despite what are supposed to be tough comparisons.
One reason is that more affluent consumers are starting to shop at Walmart to manage inflation. That is likely offsetting the cutting back that’s happening in low- and middle-income consumers. To help those consumers, Walmart is lowering prices on thousands of products.
Like Amazon, WMT stock is having a solid start to 2024, up over 28%. That currently has the stock near the top of analyst estimates. Some analysts argue that a rate cut may benefit retailers that compete with Walmart. That may be true on the high end, but any relief that lower-income consumers get will benefit the company as well.
And since the company split its stock early in the year, investors can buy and hold WMT stock, collect a strong dividend now, and be set up for strong growth when the rate cuts take effect.
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
- $67.90
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 27 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $70.47 (3.8% Upside)
