Walmart Inc. (WMT) finished Friday, December 19, 2025, slightly lower even as the broader U.S. market pushed higher into year-end. The stock closed at $114.36, down $0.47 (-0.41%), and traded modestly in extended hours — a quiet finish on a session dominated by triple witching and unusually heavy volume. [1]
One important calendar note up front: U.S. stock markets are closed Saturday and Sunday, so “tomorrow” is not a trading session. The next regular market open is Monday, December 22, 2025.
Below is what mattered for Walmart stock after the bell on Dec. 19 — and what investors may want on the radar before the next opening print.
Where Walmart Stock Stands After the Bell
- Regular-session close (4:00 p.m. ET): $114.36 (-0.41%) [2]
- After-hours (delayed quote, ~6:06 p.m. ET): about $114.31 (fractionally lower vs. the close) [3]
- Day range:$113.53 to $115.28 [4]
- 52-week range:$79.81 to $117.45 (WMT remains within a few percentage points of its 52-week high) [5]
- Volume: roughly 49.9 million shares, far above typical levels [6]
That volume spike is the headline in itself. Walmart didn’t deliver a major earnings update Friday, yet it traded like a catalyst day — and that’s the tell that market structure (not just fundamentals) played a major role.
Why WMT Volume Spiked: Triple Witching (and Why It Often Looks “Calm” Anyway)
Friday was a classic triple-witching session — the quarterly expiration when stock options, index options, and index futures roll off at the same time. Axios reported that trillions of dollars’ worth of contracts were set to expire, which can drive big swings in volume as investors close, roll, or rebalance positions. [7]
The key nuance: triple witching can create huge trading volume without huge price swings because many participants plan and hedge for it well in advance. [8]
That pattern fits Walmart’s tape on Friday:
- heavy volume,
- relatively contained range,
- modest after-hours drift.
A Bullish Signal From Wall Street: Wells Fargo Raises Walmart Price Target to $130
One of the most marketable “fresh” catalysts on WMT from Friday was a new analyst target increase:
- Wells Fargo raised its Walmart price target to $130 from $120 and maintained an Overweight rating. [9]
Wells Fargo’s framing matters for how traders may position into 2026: it described a mixed 2026 outlook for the broader group, but also highlighted opportunity and suggested momentum could persist through the first half of EPS revision season, while cautioning that food retail could get tougher and company-specific drivers will matter. [10]
What the “$130” target implies
A $130 target is not just a number — it’s a statement that Walmart can keep earning a premium multiple if it continues to:
- defend grocery share,
- grow higher-margin businesses (ads, membership),
- and keep delivery speed and availability advantages.
That said, investors should also recognize that when a mega-cap retailer trades near highs, even bullish targets can be as much about defending the multiple as about calling a straight-line rally.
The Consensus Forecast: What Analysts Expect Over the Next 12 Months
Broader consensus isn’t as aggressive as the $130 headline, but it remains constructive:
- One widely followed compilation shows a “Strong Buy” consensus with an average price target around $119, and a stated range that runs up to $130 at the high end. [11]
- Another tracker notes a consensus target around $118 and similarly flags $130 as the high watermark (issued by Wells Fargo on Dec. 19). [12]
Put differently: the Street remains broadly positive, but the average forecast suggests more modest upside from Friday’s close than the most bullish targets.
Fundamentals in Focus: What Bulls and Bears Are Arguing Right Now
A Zacks research roundup carried by Nasdaq summarized the current bull case clearly:
What’s working
- Walmart has been executing across an omnichannel model, supported by store-led fulfillment and e-commerce growth. [13]
- The company’s higher-margin businesses (notably advertising and membership) are growing in importance and contributing more meaningfully to operating income. [14]
- Management’s raised fiscal 2026 view (as referenced in the research summary) has helped keep sentiment firm. [15]
What’s pressuring the debate
- Margin expansion can be constrained by elevated operating costs and tariff risks, with additional headwinds from currency volatility, intense competition, and mix shifts toward lower-margin essentials. [16]
This is the heart of the Walmart story heading into the next week: investors love the durability — but they’re watching whether cost pressures and policy-driven pricing risks can cap margin progress.
Insider and Ownership Headlines: Two Executive Sales and a Walton Trust Sale
Late-week trading also had a fresh set of ownership-related headlines, which can sometimes move stocks in after-hours sessions even when the underlying impact is limited.
Executive sales (10b5-1 plans)
TradingView reported:
- Walmart EVP John R. Furner sold 13,125 shares on Dec. 18 at a weighted average price of about $114.9106, and the sale was executed under a Rule 10b5-1 plan. [17]
- Walmart EVP Kathryn J. McLay sold 4,000 shares on Dec. 19 at $115.21, also under a Rule 10b5-1 plan. [18]
10b5-1 plans are typically pre-scheduled, which is why markets often treat them as lower-signal than discretionary insider trades — though they can still influence short-term sentiment.
Walton Family Holdings Trust sale
A separate Reuters item (via TradingView) flagged that Walton Family Holdings Trust filed a Form 4 showing a sale of 872,000 shares on Dec. 19 at about $114.26, roughly $99.6 million in value, leaving 525,964,456 shares held directly. [19]
Relative to that remaining stake, the sale is small — but because it’s tied to the founding family’s holdings, it tends to draw attention around the close.
Other Headlines Investors Are Keeping on the “Risk Radar”
While not all of these items hit the tape on Dec. 19 specifically, they remain part of the current headline mix around large retailers and could matter in thin holiday liquidity:
- PepsiCo and Walmart have been hit with a proposed class action alleging an antitrust price-fixing scheme related to Pepsi pricing at other retailers (Walmart has acknowledged the suit and disputes wrongdoing). [20]
- Walmart and other retailers have objected to a proposed Visa/Mastercard swipe-fee settlement, arguing it offers limited relief and preserves key network rules. [21]
- The FDA has issued warning letters to Walmart and others for allegedly selling recalled infant formula after a recall notice. [22]
For Walmart stock specifically, these issues usually don’t move the shares day-to-day unless they escalate — but they can weigh on narrative during periods of heightened regulatory scrutiny.
What to Know Before the Next Market Open: Monday, Dec. 22, 2025
Here’s the practical checklist heading into the next session.
1) Monday’s economic calendar is light — but Tuesday is not
The New York Fed’s economic indicators calendar shows no major releases listed for Monday, Dec. 22. The next heavy batch arrives Tuesday, Dec. 23, including:
- GDP (third release) (8:30 a.m. ET),
- Consumer Confidence (10:00 a.m. ET),
- New Residential Sales (10:00 a.m. ET),
- Richmond Fed manufacturing survey (10:00 a.m. ET). [23]
For retail stocks like Walmart, Tuesday’s Consumer Confidence print can be especially market-moving because it feeds the narrative around discretionary demand and “trade-down/trade-up” behavior.
2) Holiday trading hours can amplify moves
Markets are heading into a holiday week where liquidity can get choppy:
- The NYSE schedule confirms an early close at 1:00 p.m. ET on Wednesday, Dec. 24, 2025. [24]
- Reuters coverage of exchange notices indicates markets will remain open on Dec. 24 (early close) and operate normally on Friday, Dec. 26, despite the federal government closure order mentioned in the report. [25]
Thin liquidity doesn’t guarantee volatility — but it can make reactions to headlines feel bigger than usual.
3) Watch these “levels” investors will talk about on Monday morning
Using Friday’s published range:
- Near-term support: around $113.53 (Friday’s low) [26]
- Near-term resistance: around $115.28 (Friday’s high) [27]
A push above the high with strong volume can reignite the “new highs” narrative. A break below the low can trigger short-term technical selling — especially in a holiday-thinned tape.
4) Keep an eye on broader market tone
Friday’s broader market rise was tied to a tech rebound and shifting rate expectations, with Reuters highlighting the role of macro data and the triple-witching backdrop. [28]
Walmart often behaves as a defensive/quality retail holding — which means it can lag on strong “risk-on” days, then hold up better if markets wobble.
Bottom Line for WMT Going Into Monday
Walmart ends the week near $114 with:
- unusually heavy “mechanical” trading volume (triple witching),
- a fresh $130 price target raise from a major bank,
- and new insider/ownership filings that can briefly grab attention after the close. [29]
The bigger story hasn’t changed: Walmart’s premium valuation is being supported by omnichannel execution and higher-margin growth lines, while investors continue to pressure-test cost inflation, tariffs/policy risk, and margin durability into 2026. [30]
References
1. www.wsj.com, 2. www.wsj.com, 3. www.marketwatch.com, 4. www.marketwatch.com, 5. www.marketwatch.com, 6. www.wsj.com, 7. www.axios.com, 8. www.axios.com, 9. www.tipranks.com, 10. www.tipranks.com, 11. stockanalysis.com, 12. www.benzinga.com, 13. www.nasdaq.com, 14. www.nasdaq.com, 15. www.nasdaq.com, 16. www.nasdaq.com, 17. www.tradingview.com, 18. www.tradingview.com, 19. www.tradingview.com, 20. www.reuters.com, 21. www.reuters.com, 22. www.reuters.com, 23. www.newyorkfed.org, 24. www.nyse.com, 25. www.investing.com, 26. www.marketwatch.com, 27. www.marketwatch.com, 28. www.reuters.com, 29. www.wsj.com, 30. www.nasdaq.com
