5 Best Grocery Stocks to Buy

3. Walmart Inc. (NYSE: WMT)

Number of Hedge Fund Holders: 58

Walmart Inc. (NYSE: WMT) is an American retailer and wholesaler operating across the globe. The company has three segments, namely Walmart U.S., Walmart International, and Sam’s Club. It owns supercenters, supermarkets, hypermarkets, and other stores alongside operating e-commerce websites to sell its products, including various grocery items like frozen foods, dairy, meat, and other products. The company ranks 3rd on our list of the best grocery stocks to buy.

On June 17th, Walmart Inc. (NYSE: WMT) announced its investment in DroneUp after completing drone deliveries from its stores during the company’s pilot drone delivery program. This brings in more potential for the company’s online sales and deliveries in the future since Walmart Inc. (NYSE: WMT) commented that it would be able to execute drone deliveries in 4,700 stores stocked with over 100,000 popular products, located within 10 miles of about 90% of the American populace.

For the fiscal first quarter of 2021, Walmart Inc. (NYSE: WMT) had EPS valued at $1.18, beating estimates by $0.09. Its revenue came in at $133.67 billion, representing an 8.72% growth year over year and beating estimates by $2.76 billion. The company has a gross profit margin of 25.1% and has gained 13.02% in the past year.

By the end of the first quarter of 2021, 58 hedge fund holders held stakes in Walmart Inc. (NYSE: WMT), valued at roughly $5.88 billion. This is compared to 70 hedge fund holders in the previous quarter with a total stake value of roughly $6.19 billion.