5 Best Consumer Staples Dividend Stocks To Buy Now

3. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 66
Dividend Yield as of March 6: 1.62%

An American retailer corporation, Walmart Inc. (NYSE:WMT) is next on our list of the best consumer staples dividend stocks to buy. In February 2023, the company became a Dividend King, raising its dividends consistently for the past 50 years. It currently offers a quarterly dividend of $0.57 per share for a dividend yield of 1.62%, as of March 6.

Walmart Inc. (NYSE:WMT) recently announced that it is planning to open 28 new healthcare centers in the US in 2024, which would double its current footprint. These new centers will offer services ranging from primary and behavioral health to telehealth and X-rays.

Deutsche Bank gave a positive stance on Walmart Inc. (NYSE:WMT)’s outlook for 2023. In view of this, the firm raised its price target on the stock in February to $169 with a Buy rating on the shares.

As of the close of Q4 2022, 66 hedge funds tracked by Insider Monkey reported owning stakes in Walmart Inc. (NYSE:WMT), down from 68 in the previous quarter. These stakes have a total value of over $4.8 billion.

Leaven Partners mentioned Walmart Inc. (NYSE:WMT) in its Q3 2022 investor letter. Here is what the firm has to say:

“In our last quarterly letter, I briefly mentioned that the consensus estimates for corporate profits appeared to be a bit too sanguine. I referenced a Reuters article that reported, as of June 17, Wall Street expected S&P 500 earnings to grow by 9.6% in 2022, which was up from 8.8% in April and from 8.4% in January. That tune began to change at the end of July and accelerated in August and September, as major players, such as Walmart (NYSE:WMT), has recently issued profit warnings and/or have withdrawn guidance. In response, Wall Street has altered its outlook: lowering third-quarter profit growth to 4.6%^[2] from 7.2% in early August and slashing full-year profit growth to 4.5%.”