One of the biggest retail companies on the planet has seen some increased interest by institutional investors this week. Indeed, Walmart (WMT) has seen a key investment group lift its stake in the company by 15% as the stock has gotten a notable boost. Indeed, Principal Financial Group Inc. was among a collection of firms that increased their position in the store.
The stock has been up in consecutive trading days, while it jumped more than 1.4% Friday. Moreover, that has only continued what has been a dominant year for the company. Throughout 2024, it has surged more than 58%. Yet, with increased institutional interest, the stock could have more gains in the future.
Also Read: Walmart Gets Boosted Price Target as WMT Reaches Record High
Walmart Gets Increased Interest as Investment Firms Increase Stake
There are few brands in the United States as recognizable as Walmart. Indeed, the retailer’s dominance cannon the understated. In 2024, they have leveraged that to record high stock prices that ensure WMT is set to be one of the biggest gainers of the year.
That has only magnified in recent weeks. With the stock market getting a massive boost from Donald Trump’s victory in the 2024 election, the store was no exception. Indeed, Walmart has seen one key investment group increase its stake in WMT by 15% as the company’s target gets a notable boost.
Also Read: Walmart: WMT Gets $90 Target Upgrade Despite One Key Concern
In Q3, Principle Financial Group has purchased more than 809,000 shares in WMT. Moreover, that increased its position, with the firm now holding more than 6.2 million in Walmart stock. However, they were not the only ones, as hedge funds took the opportunity to follow suit.
Liberty Wealth Management has also increased its position. In the first quarter, they bought over $270,000 worth of Walmart stock. Additionally, Commerce Bank added 600,000 shares to its current holding valued at more than $55.2 million.
Additionally, the AIA Group Ltd. had boosted its potion to end the week. Specifically, it increased its stake by 50% in the third quarter. Above all, the movement points to a positive near-term outlook for the stock. With the holiday season upon us, big things are expected from the juggernaut.
