5 Best Delivery Stocks To Buy Heading Into 2023

3. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 68

Walmart Inc. (NYSE:WMT) operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, membership-only warehouse clubs, e-commerce websites, and mobile commerce applications. Walmart Inc. (NYSE:WMT) is one of the best delivery stocks to monitor. On November 15, the company reported a Q3 non-GAAP EPS of $1.50 and a revenue of $152.8 billion, outperforming Wall Street forecasts by $0.18 and $6 billion, respectively. 

On November 17, Morgan Stanley analyst Simeon Gutman raised the price target on Walmart Inc. (NYSE:WMT) to $164 from $150 and reiterated an Overweight rating on the shares based on higher estimates following the company’s Q3 “beat & raise” and rolling forward his valuation framework to FY25 estimates.

According to Insider Monkey’s Q3 data, 68 hedge funds were bullish on Walmart Inc. (NYSE:WMT), compared to 67 funds in the preceding quarter. Ray Dalio’s Bridgewater Associates held a notable stake in the company, comprising 4 million shares worth $522.6 million. 

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Walmart Inc. (NYSE:WMT) was one of them. Here is what the fund said:

“The pandemic has created challenges for businesses large and small; one major challenge for large essential retailers such as ClearBridge holdings Home Depot, Walmart Inc. (NYSE:WMT) and Costco has been ensuring adequate staffing to meet demand under trying conditions. All three instituted enhanced pay practices during the pandemic, with raises, unplanned bonuses and other benefits helping compensate employees for their efforts in a difficult environment. In September 2020 Walmart raised wages for 165,000 employees, including a number of entry positions to $15 an hour. It followed this in February with a raise for 425,000 workers that moved its average pay above $15 an hour.”