Shares of Walmart Inc. (WMT) rose 0.7% on Thursday afternoon, signaling a potential record high for the retail giant. The stock is currently trading 0.4% above its previous record close of $165.25 on September 14.
Consistent Performance
According to FactSet data, Walmart has consistently surpassed market expectations in recent quarters. The company has beaten adjusted earnings-per-share estimates for the last five quarters, exceeded same-store sales expectations for the past six quarters, and outperformed total revenue forecasts for the previous 14 quarters.
Market Comparison
In comparison, rival company Target Corp. (TGT) saw its stock rise 1.4% on Thursday. Despite a 5.7% increase from its recent low of $105.01 on October 6, Target’s stock is still 58.3% below its record close of $111.04 on November 16, 2021.
Similarly, Amazon.com Inc. (AMZN) experienced a modest 0.4% increase in its shares on Thursday. However, the stock remains 26.1% below its all-time high of $186.57 on July 8, 2021.
Meanwhile, Costco Wholesale Corp. (COST), which competes with Walmart’s Sam’s Club, saw a significant 1.8% rise in its shares on Thursday. Nevertheless, the stock is still 8.4% below its record close of $608.05 on April 7, 2022.
Market Performance
The Consumer Staples Select Sector SPDR ETF (XLP), which includes Walmart’s stock, gained 1.4% on Thursday. However, it is still 14.7% below its all-time high achieved on April 20, 2022. Meanwhile, the S&P 500 (SPX) rallied 1.8%, but remains 10.1% below its record close on January 3, 2022.
