Walmart Inc. (WMT) is heading into Thursday’s session with investors balancing “defensive stock” appeal against a fresh batch of legal, payments, and consumer-spending headlines. After the U.S. closing bell on Wednesday, December 17, 2025, Walmart shares were around $115.66, modestly higher on the day and trading near the upper end of their 52‑week range. [1]
For traders planning Thursday’s moves, the key question is whether Walmart’s relative stability continues—especially with major inflation and labor-market releases due before the market opens, and with new headlines about pricing practices, card fees, and private-label competition shaping the retail narrative.
Walmart stock price after the bell: where WMT stands tonight
As of the latest update in extended-hours trading (late Wednesday afternoon in U.S. time), Walmart (WMT) was at $115.66, up about 0.22% versus Tuesday’s close. The session range was roughly $115.08 to $116.38, and trading volume was about 16.1 million shares.
WMT remains close to its 52‑week high ($117.45) and well above its 52‑week low ($79.81)—a reminder that the stock has already logged a substantial run over the last year and is now priced for continued execution. [2]
Why Walmart outperformed as the broader market turned risk-off
Walmart’s modest gain came on a day when the broader tone was risk-off, with tech weakness and macro uncertainty pressuring major indexes. In that environment, large, cash-generative consumer staples names often act as “parking places” for investors—and WMT traded like one.
MarketWatch’s end-of-day recap showed Walmart rising while the wider market fell, with WMT finishing up about 0.21% on the session. [3] Reuters also framed Wednesday as a choppy session shaped by tech-sector anxiety and broader macro crosscurrents. [4]
The important takeaway for Thursday: Walmart doesn’t need a big catalyst to move. When markets get nervous, steady retailers with scale, traffic, and food exposure can simply outperform by not breaking.
Today’s Walmart headlines investors are digesting
Several Walmart-specific storylines hit the tape today (Dec. 17). None appeared to create dramatic after-hours volatility, but together they shape sentiment and risk perception.
1) A newly unsealed FTC complaint tied to PepsiCo pricing and Walmart’s alleged advantage
One of the most market-relevant headlines today was the publication of details from a newly unsealed FTC complaint connected to the government’s earlier lawsuit against PepsiCo.
Food Dive reported the FTC alleged PepsiCo gave Walmart preferential pricing and promotional benefits—raising the perennial political and regulatory question of whether large retailers can secure terms that smaller competitors can’t match. Food Dive also noted Walmart’s response emphasized its focus on negotiating to deliver customer value. [5]
While the FTC had previously dismissed its PepsiCo case earlier in 2025, the appearance of more detailed allegations can still create headline risk for Walmart—especially because antitrust and “fair competition” themes tend to resurface quickly in Washington and in private litigation. [6]
Why it matters for WMT stock: Walmart’s scale-driven procurement is a core strategic advantage. Any regulatory momentum that attempts to constrain that advantage (even indirectly, via supplier practices) can influence investor perception of long-term margin durability.
2) A separate consumer class action filed alleging PepsiCo-Walmart price effects
Adding to that narrative, Reuters reported a consumer class action filed this week accusing PepsiCo and Walmart of a long-running arrangement that allegedly inflated Pepsi product prices at non‑Walmart retailers. Walmart acknowledged the lawsuit and reiterated it negotiates on behalf of customers; Pepsi did not comment in the Reuters report. [7]
Why it matters for WMT stock: This looks early-stage and allegations are unproven, but it increases the odds that “Pepsi/Walmart pricing” becomes a multi-month storyline—exactly the kind of drip-drip headline cycle that can affect valuation multiples even when fundamentals remain intact.
3) Truist raises its Walmart price target to $127 (but keeps a Hold)
On the “sell-side” front, a widely circulated analyst note today highlighted that Truist Securities raised its price target on Walmart to $127 from $119, while maintaining a Hold rating. Truist’s thesis emphasized Walmart’s strength across segments, its value proposition with budget-conscious shoppers, and the view that tariff dynamics could widen price gaps across retail in 2026. [8]
Notably, the note also pointed to Walmart’s growing convenience options and its ability to capture share beyond traditional lower-income cohorts, and discussed margin potential from alternative revenue streams (often understood as advertising, marketplace, and services). [9]
Why it matters for Thursday: A target hike on a Hold rating is a “yes, but” signal—confidence in the business, caution on the valuation. Truist also referenced the stock trading at a premium forward multiple (around 40x forward EPS in the note), reinforcing that WMT may need consistent execution—and a supportive macro tape—to power the next leg higher. [10]
4) Walmart pushes back on the card-fee settlement—seeking more power at the register
Payments is a less flashy but highly consequential issue for big-box retailers, and Walmart’s stance is getting attention.
An EMARKETER report today said Walmart wants discretion to refuse cards based on the issuer at the point of sale, according to an objection filed in connection with the long-running interchange-fee litigation/settlement process. The piece frames Walmart’s view as: issuer-level competition matters, and the settlement’s changes may not meaningfully help large national merchants. [11]
This sits alongside Reuters’ recent reporting that Walmart and other retailers have objected to the broader Visa/Mastercard settlement proposal, arguing the relief is too small and preserves constraints around acceptance rules. [12]
Why it matters for WMT stock: Even tiny changes in effective payment costs can mean large dollars for a company with Walmart’s transaction volume. Investors also watch this topic because it intersects with Walmart’s broader fintech ambitions and customer experience at checkout.
5) Private label keeps gaining share—and Walmart is a prime beneficiary
Retailers’ store brands (private label) remain one of the most important structural themes in U.S. grocery and consumables—and Walmart is front and center.
Barron’s reported that private label growth has outpaced national brands since 2022, with store brands reaching a record share of grocery purchases, and highlighted Walmart’s efforts to build private brands positioned as more than “cheap knockoffs.” [13]
Separately, Reuters’ coverage of General Mills’ results today underscored that many consumers remain budget-conscious, choosing to eat at home and looking for value amid uncertainty—conditions that typically support high-traffic value retailers and accelerate experimentation with store brands. [14]
Why it matters for tomorrow: When inflation anxiety rises, the market often rewards business models that can maintain traffic while managing margin pressure. Walmart’s mix of grocery, consumables, and private label is one reason it tends to stay resilient into macro-data risk events.
6) A quieter corporate update: Great Value and international sourcing
Walmart’s corporate newsroom also published a story today about Great Value instant noodles and local innovation in Africa. It’s not the kind of headline that moves the stock overnight, but it fits into the longer narrative that Walmart’s private brands and global sourcing can be strategic levers—not just low-margin commodities. [15]
What to know before the stock market opens tomorrow (Thursday, Dec. 18, 2025)
Thursday’s pre-market window matters because macro releases can swing index futures, and WMT often trades partly as a “macro proxy” for the state of the U.S. consumer.
1) Key U.S. economic data (inflation + labor) could set the tone
Multiple major releases are on deck for Thursday, including CPI, jobless claims, and the Philadelphia Fed manufacturing index, according to Investing.com’s preview of the day’s economic events. [16]
If inflation prints hotter than expected, investors may rotate away from “expensive defensives” and into other areas—or demand a valuation reset. If inflation cools, Walmart can benefit two ways: (1) less pressure on consumers, and (2) a market tape that’s more willing to pay for premium-quality earnings.
2) “Real earnings” data is scheduled for Dec. 18
The Bureau of Labor Statistics’ revised release schedule shows November 2025 Real Earnings data is set to be published on December 18, 2025. [17]
For Walmart watchers, wage and real purchasing-power indicators matter because they influence:
- discretionary vs. essentials mix,
- trade-down/trade-up patterns, and
- grocery basket behavior.
3) Pre-market earnings from major companies can move the entire tape
Even if Walmart has no company-specific event tomorrow, the market’s “mood” can be shaped by other big earnings.
Nasdaq’s pre-market earnings list for Dec. 18, 2025 includes names such as Accenture (ACN), Cintas (CTAS), Darden Restaurants (DRI), FactSet (FDS), CarMax (KMX) and others. [18]
If these reports surprise meaningfully, it can affect index futures and risk appetite—spillover that can lift or weigh on WMT at the open.
4) Watch for follow-through on today’s legal and payments headlines
Before the bell, traders will be watching for:
- additional reporting on the PepsiCo/Walmart pricing allegations and any legal responses, [19]
- continued developments around the card-fee settlement objections, [20]
- and any broader regulatory commentary that reframes these issues as systemic (which tends to matter more for valuation than for next-quarter EPS).
Walmart stock forecast and analyst outlook: the “setup” into Thursday
Because Walmart is trading near the high end of its annual range, the analyst community’s “what’s priced in?” debate is becoming more important.
- Truist (today): PT raised to $127 (from $119), rating Hold, pointing to strong segment performance and the possibility of widening retail price gaps in 2026 as tariffs flow through. [21]
- Other targets cited in today’s analyst coverage: Investing.com’s roundup referenced BMO (PT $125), RBC (PT $123), TD Cowen (PT $136), and UBS (PT $122) as examples of broadly constructive views on Walmart’s strategy and share gains. [22]
- Consensus view (snapshot): MarketBeat lists an average analyst price target around $120 (with modest upside from ~$115–$116 levels). [23]
One more calendar item for longer-term investors: MarketBeat’s earnings calendar pegs Walmart’s next reported earnings window as before market opens around Feb. 19 (estimate). [24]
The bottom line: what matters most for WMT at Thursday’s open
Going into Thursday, Dec. 18, Walmart stock is positioned as a high-quality, high-expectations retailer:
- Price action: stable after hours near $115.66, near the top of its annual range. [25]
- Bull case into the open: defensive demand + private label momentum + analyst confidence in share gains and convenience-driven expansion. [26]
- Key risks to watch: renewed legal/regulatory headlines tied to supplier pricing dynamics, and ongoing pressure around payment fees and settlement terms. [27]
- The “next catalyst” is macro: CPI/jobless claims/Philly Fed data could set the tone for retail multiples before the bell. [28]
References
1. www.marketwatch.com, 2. www.marketwatch.com, 3. www.marketwatch.com, 4. www.reuters.com, 5. www.fooddive.com, 6. www.fooddive.com, 7. www.reuters.com, 8. www.investing.com, 9. www.investing.com, 10. www.investing.com, 11. www.emarketer.com, 12. www.reuters.com, 13. www.barrons.com, 14. www.reuters.com, 15. corporate.walmart.com, 16. au.investing.com, 17. www.bls.gov, 18. www.nasdaq.com, 19. www.fooddive.com, 20. www.emarketer.com, 21. www.investing.com, 22. www.investing.com, 23. www.marketbeat.com, 24. www.marketbeat.com, 25. www.marketwatch.com, 26. www.investing.com, 27. www.fooddive.com, 28. au.investing.com
