5 Best Recession-Proof Stocks to Buy in October

4. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 67

Walmart Inc. (NYSE:WMT) is an American retailer and wholesaler which operates through supermarkets, discount stores, supercenters, and electronic commerce websites. The firm is headquartered in Bentonville, Arkansas.

Walmart Inc. (NYSE:WMT) managed to grow its revenue by 12% in its latest quarter, indicating already that it can perform well in an inflationary environment. It has also reduced its long term debt by $14 billion in the past three years, and the firm has also grown its EPS significantly since the coronavirus dips.

Walmart Inc. (NYSE:WMT) rounded off strong income statement performance in July 2022, when it also managed to grow its net income by 23% – at a time when inflation was biting into operating margins and keeping costs high for most firms. The company pays a 56 cent dividend for a 1.67% yield. By the end of this year’s second quarter, 67 out of the 895 hedge funds polled by Insider Monkey had invested in the company.

Walmart Inc. (NYSE:WMT)’s largest investor in our database is Rajiv Jain’s GQG Partners which owns 9.8 million shares that are worth $1.1 billion.