5 Best Hair Care Stocks To Buy Now

2. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 68

Walmart Inc. (NYSE:WMT) is an American retailer that sells an assortment of beauty products online and in-store, including multiple hair care brands. On December 9, the fintech startup backed by Walmart Inc. (NYSE:WMT) announced that it is planning to offer Buy Now, Pay Later loans as soon as next year. The company is set to pay a $0.56 per share quarterly dividend to shareholders on January 3, 2023. 

On December 19, Credit Suisse analyst Karen Short assumed coverage of Walmart Inc. (NYSE:WMT) with an Outperform rating with a price target of $170, up from $160. Walmart Inc. (NYSE:WMT) has been gaining “meaningful” market share since early 2021 and she views it as “a well-positioned defensive name in an uncertain macro backdrop,” the analyst told investors. 

According to Insider Monkey’s data, 68 hedge funds were bullish on Walmart Inc. (NYSE:WMT) at the end of Q3 2022, compared to 67 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the leading position holder in the company, with 8.12 million shares worth $1.05 billion. 

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 have 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.”