8 Best Momentum Stocks To Invest In Right Now

5. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 95

Walmart Inc. (NYSE:WMT) is a global omnichannel retailer with operations in approximately 20 countries and serves 255 million customers weekly across 10,500 stores and eCommerce platforms. It is one of the best momentum stocks to invest in.

The company operates stores in various formats including supercenters, discount stores, neighborhood markets, and Sam’s Club. Internationally, its formats are more diverse and include supermarkets, hypermarkets, cash-and-carry stores, and specialty stores among others.

Its innovations in e-commerce, like Curbside Pickup and Walmart+, create seamless shopping experiences that blend with physical and digital retail. The company’s distribution network and private fleet efficiently support its vast supply chain, while its fulfillment centers ensure quick delivery for online orders.

On September 27, Baird analyst Peter Benedict maintained a Buy rating on Walmart (NYSE:WMT) and raised its price target to $90 from $82. The price target revision came in light of the company’s effective transformation into an omnichannel retailer, which has led to increased market share and improved service offerings that attract diverse customer demographics.

The analyst believes that the company is gaining market share in omnichannel retail while also seeing growth in its alternative revenue streams.

Earlier on September 24, Truist upgraded the company shares from Hold to Buy and raised the price target to $89 from $76.

According to Insider Monkey’s database of 912 hedge funds, 95 hedge funds had stakes worth $9.19 billion in Walmart (NYSE:WMT) in Q2. While Fisher Asset Management is the company’s largest shareholder as of June 30, a more significant transaction was seen by GQG Partners. The firm increased its holdings in the company by a whopping 30279% to $1.1 billion in the quarter to become the second largest shareholder, according to our database.