Let’s take a look at some recent hedge fund activity in the retail and e-commerce sector and see where the pools of money have been spent on in the last quarter.
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How will Walmart (WMT), Target (TGT) and Amazon (AMZN) fare? Is one proving more attractive than another in a sector hit by faltering consumer confidence and persistent inflation?
Perhaps it could sway your own investment decisions?
Walmart
Using our TipRanks Hedge Fund Trading Activity tool, we can see that Hedge Funds increased holdings by 323.6K shares last quarter. Our Hedge Fund confidence signal came in Positive based on the activity of 56 hedge funds during the period.
Major additions included those from Moore Capital Management and SCS Capital Management, with new holders such as Fortress Investment Group and Carlson Capital.
Target
Retailer Target has been less popular, with Hedge Funds decreasing their holdings by 321.5K shares in the last quarter. Our Hedge Fund confidence signal comes in at Very Negative based on the activity of 55 hedge funds in the recent quarter.
This is despite Fisher Asset Management adding to its holdings and new holders including Brandes Investment Partners.
Amazon
The stock with most appeal is Amazon, with hedge funds increasing holdings by 14.2 million shares last quarter. As such, it has a Very Positive confidence signal based on the activity of 142 hedge funds.
New holders included Pershing Square Capital Management and Howard Hughes Medical Institute.
Is WMT a Good Stock to Buy Now?
On TipRanks, WMT has a Strong Buy consensus based on 28 Buy ratings. Its highest price target is $129. WMT stock’s consensus price target is $116.26, implying a 13.39% upside.
