Top 5 Losers on Wednesday

3. Walmart Inc. (NYSE:WMT) has declined 7.06% as of 11:54 AM ET after the target price of the Arkansas-based company was lowered from $160 to $153 by Steven Shemesh at RBC Capital. The analyst expressed concern about the rising general merchandise inventory levels and trade-down by consumers. Shemesh thinks inflation-led pricing will continue to support Walmart Inc.’s (NYSE:WMT) top-line growth in the short term, but the elasticity levels need to be observed in more discretionary segments. Moreover, Walmart Inc.’s (NYSE:WMT) Q1 2022 results missed the analysts’ earnings estimates. The company also reduced its full-year forecast due to supply chain disruptions and rising inflation.

Walmart Inc. (NYSE:WMT) was held by 63 hedge funds as of Q4 2021.