5 Best Consumer Staples Stocks To Buy Now

3. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 63

Walmart Inc. (NYSE:WMT) exhibits high momentum and strong financials, making it rank among the top 3 consumer staples stocks to buy now. On February 17, the company reported market-beating earnings for the fiscal fourth quarter of 2022. Walmart Inc. (NYSE:WMT) registered an EPS of $1.53 for the quarter, beating estimates by $0.03. The company’s revenues came to $151.53 billion and outperformed the market consensus by $1.49 billion, and as of April 22, the stock has gained 13.20% over the past year.

This April, DA Davidson analyst Michael Baker raised his price target on Walmart Inc. (NYSE:WMT) to $171 from $168 and maintained a Buy rating on the shares. The analyst sees upside to the stock and told investors that he sees the valuation for Flipkart to increase and emphasized Walmart Inc. (NYSE:WMT) being one of the top-performing names in the industry in 2021.

At the close of Q4 2021, 63 hedge funds were long Walmart Inc. (NYSE:WMT) with collective stakes of $7.13 billion in the retail giant. Of these, GQG Partners was the leading hedge fund having stakes of more than $1.50 billion in Walmart Inc. (NYSE:WMT) as of December 31, 2021. The investment covers 3.73% of the fund’s 13F portfolio.