Walmart (WMT) Stock Update: Black Friday Rush, CEO Shake-Up and Q3 Earnings Countdown

On the final day of Walmart’s first 2025 Black Friday “Event One,” Walmart Inc. (NYSE: WMT) sits just above the $100 mark, with Wall Street focused on a historic CEO transition and a closely watched earnings report due this Thursday. ^[1]

Walmart Stock Hovers Near $102 Ahead of Big Week

Walmart shares last traded around $102.5, leaving the retail giant’s market value a little over $800 billion and keeping the stock within sight of its recent record high near $110. ^[2]

Key valuation snapshots: ^[3]

12‑month range: roughly $79.8–$109.6
P/E ratio: about 38.5x forward earnings
Beta: ~0.67, underscoring Walmart’s role as a relatively defensive, lower‑volatility name

The setup going into this week is unusually eventful:

Q3 FY26 earnings are scheduled for Thursday, November 20, 2025, with analysts expecting EPS of about $0.60. ^[4]
In Q2 FY26 (reported August 21), Walmart delivered EPS of $0.68 on $169.3 billion in revenue, missing consensus estimates of $0.74 EPS and $174.0 billion in sales, even as revenue grew nearly 5% year over year. ^[5]
The company reaffirmed guidance for Q3 EPS of $0.58–$0.60 and full‑year FY26 EPS of $2.52–$2.62, implying mid‑single‑digit profit growth. ^[6]

At the same time, Walmart continues to emphasize its omnichannel strategy. In Q2 FY26, global e‑commerce sales grew about 25%, helping drive total revenue up ~5% and supporting management’s goal of reaching 95% of the U.S. population with delivery options of three hours or less by year‑end FY26. ^[7]

Wall Street Still Likes Walmart: 32 Buys, 1 Hold

Despite the Q2 miss, analyst sentiment remains firmly positive:

Around 32 analysts rate Walmart a Buy and just 1 a Hold
The consensus rating sits at “Moderate Buy”
The average 12‑month price target is roughly $113.50, implying mid‑single‑digit upside from current levels. ^[8]

Recent target changes from major firms (Evercore ISI, Oppenheimer, Tigress Financial and others) generally cluster in the $111–$125 range, reflecting confidence in Walmart’s long‑term earnings power even after a strong multi‑year run. ^[9]

That optimism echoes commentary in broader market previews: in a weekly outlook published this morning, Investopedia highlighted Walmart among the key earnings to watch this week, citing its outsize role in retail and noting that the stock recently hit an all‑time high after years of digital and operational transformation. ^[10]

Big Money Moves: A Flurry of 13F Updates on November 16

Today’s regulatory‑driven headlines show just how intensely institutions are trading around Walmart:

Kingsview Wealth Management LLC boosted its stake by 411.3% in Q2, ending the quarter with 501,237 shares, worth about $49.0 million. ^[11]
Cornerstone Advisors LLC increased its position by 1.4% to 322,900 shares valued at $31.6 million. ^[12]
Hedeker Wealth LLC more than doubled its holdings, up 109.9% to 44,270 shares (roughly $4.33 million). ^[13]
Western Wealth Management LLC grew its stake 7.8% to 67,652 shares, worth about $6.6 million. ^[14]
Avantax Advisory Services Inc. added 7,659 shares, lifting its position by roughly 1.1% in Q2. ^[15]
On the other side, Westpac Banking Corp cut its Walmart stake by 30.7% to 25,104 shares (about $2.46 million), while Y.D. More Investments Ltd trimmed its holding by 9.4% to 51,589 shares worth around $5.04 million. ^[16]

Across these filings, MarketBeat data suggests institutions and hedge funds collectively own about 26.8% of Walmart’s stock, even as some insiders – including CEO Doug McMillon and CEO‑elect John Furner – have taken profits in recent months. ^[17]

The takeaway: fund flows are active but mixed – some managers are locking in gains after a big multi‑year rally, while others are leaning in ahead of earnings and a new CEO.

Black Friday 2025: Last Day of “Event One”

For shoppers (and for investors watching holiday momentum), today is the final day of Walmart’s first Black Friday “Event One”, part of a three‑phase holiday campaign that kicked off on November 14. ^[18]

According to Walmart’s corporate announcement and deal‑tracking outlets: ^[19]

Event One:
- Dates: November 14–16
- Where: Online and in stores
- Bonus: Walmart+ members received five hours of early online access starting November 13 at 7 p.m. ET
Event Two:
- Dates: November 25–30
- Online‑only for the first three days, then online + in‑store for Black Friday weekend
Cyber Monday: December 1 (online only, with early access for Walmart+ again)

A WGAL round‑up this morning stresses that shoppers have until the end of today, Sunday, November 16, to grab Event One Black Friday prices before many of these deals revert to everyday rollbacks and weekly flash sales. ^[20]

Deal sites and Walmart’s own previews flag some of the biggest Event One offers, including examples like: ^[21]

A 98″ TCL QLED 4K TV reportedly cut from around $1,798 to $998
Deep discounts (often 40–60%+) on Dyson and Shark vacuums, HP and Lenovo laptops, and large‑screen Samsung and Vizio TVs
Toys, beauty and fashion deals such as LEGO sets, Barbie playsets, Levi’s denim, and Walmart‑exclusive holiday décor

Walmart is also using Event One to push Walmart+, with multiple outlets highlighting a 50% discount on annual memberships for new subscribers – a lever that both drives loyalty and builds a base for future digital sales. ^[22]

Holiday Value Push: $39 Thanksgiving Dinner and AI‑Powered Shopping

The Black Friday blitz dovetails with Walmart’s broader holiday strategy focused on value plus technology.

$39 Thanksgiving Dinner for 10

As Tom’s Guide and Walmart’s own holiday materials spotlight, the retailer has brought back its Thanksgiving meal basket, this year offering: ^[23]

A full dinner for up to 10 people for about $39 – roughly $4 per person
A 13.5‑lb Butterball turkey at its lowest advertised price since 2019
More than 20 branded and private‑label sides and dessert items (from Campbell’s soup and Stove Top stuffing to Great Value pies and vegetables)
Free express delivery for first‑time Pickup & Delivery customers

The basket is available to order now through December 25, positioning Walmart as a go‑to for budget‑conscious hosts through both Thanksgiving and the broader holiday season. ^[24]

New AI‑Powered Shopping Experiences

On October 31, Walmart detailed five new AI‑driven and digitally enhanced shopping experiences designed to make holiday shopping faster and more personalized. These include: ^[25]

Store‑specific savings and navigation in the Walmart app that sort wish lists by aisle
Interactive 3D showrooms to visualize décor and gifts at home
AI‑powered party planning tools that help customers build carts for events and celebrations

The company describes this as a “new retail era fueled by innovation and AI,” tying in with broader investor narratives that increasingly cast Walmart as a major AI beneficiary, not just a traditional retailer. ^[26]

TipRanks, for instance, recently highlighted Walmart as arguably “the hottest AI stock” in the retail space, citing its investments in automation, data‑driven merchandising and logistics, even as the shares saw a modest pullback. ^[27]

Separately, brands are continuing to deepen their relationship with Walmart’s online ecosystem. A Simply Wall St. note today points to SharkNinja’s launch of its Shark Beauty line on Walmart.com, part of a broader strategy to expand distribution and capitalize on Walmart’s traffic. ^[28]

CEO Transition: Doug McMillon Hands the Reins to John Furner

The biggest structural story around Walmart this month is at the very top.

According to Walmart’s Form 8‑K filed November 14 and its accompanying press release: ^[29]

Doug McMillon, President & CEO,
- Will retire from the CEO role effective January 31, 2026
- Will stay on as an executive officer through January 31, 2027 and on the Board through the June 2026 shareholders’ meeting
John R. Furner, 51,
- Has been elected President and Chief Executive Officer of Walmart Inc. effective February 1, 2026
- Joined Walmart as an hourly associate in 1993, later serving as Sam’s Club CEO and since 2019 as President & CEO of Walmart U.S.

Chairman Greg Penner praised Furner as “the right leader to guide Walmart into our next chapter of growth and transformation,” emphasizing his blend of frontline and strategic experience and his role in driving digital acceleration in the U.S. business. ^[30]

In a separate analysis piece, Investopedia notes that under McMillon’s more than 11‑year tenure as CEO, Walmart’s stock price has more than quadrupled, outpacing the S&P 500 and transforming the company from a wage‑criticized big‑box chain into a global e‑commerce and delivery powerhouse. ^[31]

Bank of America analysts quoted in that article argue that the timing of the leadership change “underscores Walmart’s confidence” in its current momentum and say they do not expect major shifts in strategy – a key reassurance for investors worried about succession risk. ^[32]

Cramer and the Trillion‑Dollar Question

Media attention around the stock also intensified overnight. In a piece published early this morning, Insider Monkey recapped comments from CNBC’s Jim Cramer, who: ^[33]

Listed Walmart and Costco among his top retail picks, especially as a gauge of consumer health
Said he wants to see Walmart’s shares “start going higher because that’s where people shop,” contrasting his preference for consumer‑facing winners with an overheated data‑center trade
Recently put 10‑to‑1 odds on Walmart eventually joining the trillion‑dollar market‑cap club, while cautioning that the shares are “not cheap” at roughly 40x earnings, especially versus other mega‑caps

Cramer’s remarks reinforce a broad market theme: Walmart is increasingly being viewed not just as a defensive grocer and mass merchant, but as a high‑multiple, tech‑infused retail platform – a profile that demands continued execution on growth, margins and innovation to justify its valuation. ^[34]

Community & Lifestyle Angles: Walmart in Everyday Life

Beyond investors and doorbuster hunters, today’s headlines also highlight Walmart’s role in everyday American life:

Holiday home décor: Best Life spotlighted new throw blankets from Walmart and Target as some of the “coziest” holiday décor items, featuring Walmart’s Better Homes & Gardens line and faux‑fur throws that emphasize affordable comfort. ^[35]
Local community events: In Florida’s Brevard County, the Sheriff’s Office announced it will hold its annual “Shop With A Cop” event on December 13 at a Walmart in Viera, pairing local children with deputies for holiday shopping funded by community donations. ^[36]

These stories, while small in dollar terms, underscore how deeply embedded Walmart remains in U.S. communities – a soft‑power advantage that pure‑play e‑commerce competitors can’t easily replicate.

Key Themes for Walmart Investors This Week

Looking ahead to Thursday’s earnings and the remainder of the 2025 holiday season, here are the main storylines to watch:

Holiday Sales Trajectory
- How strong is demand during Event One and early Black Friday promotions, especially for big‑ticket items like electronics and home goods? ^[37]
- Does Walmart see consumers trading down, or are higher‑income shoppers continuing to trade in from other retailers, as management highlighted earlier this year? ^[38]
Margins and Mix
- With Q2 showing modest compression versus expectations, investors will scrutinize whether promotion‑heavy holiday sales and continued investments in AI and logistics are pressuring margins or being offset by efficiency gains. ^[39]
Omnichannel & AI Execution
- Updates on e‑commerce growth, delivery penetration, and adoption of the new AI‑powered shopping tools will be key for sustaining Walmart’s “tech‑powered retailer” narrative. ^[40]
Macroeconomic Backdrop
- The earnings call will likely touch on post‑shutdown consumer sentiment, lingering inflation and a softer labor market that has many retailers scaling back seasonal hiring, all of which could influence traffic and basket size. ^[41]
CEO Transition Tone
- Investors will be listening closely for the dynamic between McMillon and Furner on Thursday’s call: how they frame strategy, the role of AI and automation, and any hints about capital allocation or store modernization under the incoming CEO. ^[42]

Walmart (WMT) at a Glance – November 16, 2025

Share price: ~$102.5 (as of the latest trading session)
Market cap: ~$816.7 billion ^[43]
Analyst rating:Moderate Buy (32 Buy, 1 Hold), average price target ≈ $113.50 ^[44]
Next major catalyst:Q3 FY26 earnings call on November 20, 2025, with EPS consensus ≈ $0.60 ^[45]
Leadership:
- Current CEO: Doug McMillon (through January 31, 2026)
- CEO‑elect: John Furner, taking over February 1, 2026 ^[46]

Note: This article is for informational and news purposes only and is not investment advice. Always do your own research and consider speaking with a qualified financial advisor before making investment decisions.

Walmart Bears Consumer Weight, Serves as Investor, FOMC & Tariff Barometer