Dow 30 Stocks List: 15 Stocks Ranked By 2022 Hedge Fund Bullishness Index

In this article, we discuss 15 Dow stocks and their rank according to the 2022 hedge fund bullishness index. If you want to read our review of these stocks and the latest market situation, go directly to Dow 30 Stocks List: Ranked By 2022 Hedge Fund Bullishness Index. 

15. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders as of Q3, 2022: 68

Walmart Inc. (NYSE:WMT) is a retail giant with 10,500 stores and 210 distribution centers across 24 countries. The retail powerhouse reported another solid quarterly performance in September 2022, with an upside in revenue versus Wall Street estimates. Walmart Inc. (NYSE:WMT) is one of the top retail stocks in the Dow 30 list. For the past 49 years, Walmart Inc. (NYSE:WMT) has continuously increased its dividends. As of December 2022, the company has a quarterly dividend of $0.56 per share with a dividend yield of 1.46%.

Wall Street is bullish on Walmart Inc. (NYSE:WMT). On December 1, Atlantic Equities analyst Daniela Nedialkova increased her price target on Walmart Inc. (NYSE:WMT) stock to $165 from $150 and reiterated an Outperform rating. As of the end of Q3 2022, 68 hedge funds tracked by Insider Monkey were bullish on Walmart Inc. (NYSE:WMT), compared with 67 in the previous quarter. The collective value of stakes owned by these hedge funds is over $4.08 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in August and September, as major players, such as Walmart (NYSE:WMT), has recently issued profit warnings and/or have withdrawn guidance.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%.”