5 Best Stocks to Buy According to Billionaire Jeffrey Talpins

2. Walmart Inc. (NYSE:WMT)

Element Capital Management’s Stake Value: $135,861,000

Percentage of Element Capital Management’s 13F Portfolio: 8.74%

Number of Hedge Fund Holders: 63

Walmart Inc. (NYSE:WMT) is an American multinational retailer and wholesaler, running a network of supermarkets, hypermarkets, superstores, and convenience shops. Billionaire Jeffrey Talpins’ hedge fund purchased 938,982 Walmart Inc. (NYSE:WMT) shares in the fourth quarter of 2021, worth $135.8 million, representing 8.74% of the 13F portfolio. 

On April 8, DA Davidson analyst Michael Baker raised the price target on Walmart Inc. (NYSE:WMT) to $171 from $168 and kept a Buy rating on the shares. The analyst stated a higher potential valuation for Flipkart, with reports suggesting that Walmart Inc. (NYSE:WMT) has “raised their internal valuation for Flipkart from $60B to $70B”. The company has been one of the top performers in 2022 after the underperformance in 2021, gaining 7.5% as retailers of more basic necessities have outperformed retailers of discretionary products, the analyst told investors in a research note.

According to Insider Monkey’s database of elite funds, Walmart Inc. (NYSE:WMT) was found in the public stock portfolios of 63 hedge funds, compared to 71 funds in the preceding quarter. Pittencrieff Partners – Gabalex Capital is a significant position holder in the company, with 140,000 shares worth close to $21 million.