14 Best FMCG Stocks To Buy Now

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1. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 88

Walmart Inc. (NYSE:WMT) is a leading American retail giant renowned for its extensive network of hypermarkets, discount department stores, and grocery outlets strategically located across the United States. The company’s headquarters are in Bentonville, Arkansas.

On June 11, JPMorgan analysts upgraded Walmart Inc. (NYSE:WMT) shares from Neutral to Overweight, raising the price target to $81 per share from $66. The bank cited Walmart’s strong balance of defensive and offensive strategies, both in revenue and earnings, amidst a softening consumer market and an uncertain second half of 2024. JPMorgan emphasized several US topline “tailwinds” for the retailer, including a consumer base focused on value, the potential for modest grocery price increases, and continued gains in general merchandise market share. Additionally, analysts highlighted an under-appreciated improvement in Walmart Inc. (NYSE:WMT)’s profitability within its international business.

Earlier on May 16, Walmart Inc. (NYSE:WMT) reported strong Q1 results. The company posted an adjusted EPS of $0.60, exceeding estimates by $0.08. Revenue for the quarter increased by 6% year-over-year to $161.5 billion, surpassing estimates by $3.36 billion.

In Insider Monkey’s database of 919 hedge funds, 88 reported owning stakes in Walmart Inc. (NYSE:WMT). The largest stakeholder during this period was Ken Fisher’s Fisher Asset Management, with a $2.6 billion stake in Walmart Inc. (NYSE:WMT).

While we acknowledge the potential of Walmart Inc. (NYSE:WMT), our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TMO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

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