Dec. 18, 2025 — Walmart Inc. stock (ticker WMT) traded around the $115 level on Thursday as investors weighed a fresh round of policy-related headlines, the retailer’s impending CEO transition, and a steady drumbeat of bullish sell-side forecasts into 2026. [1]
While the day’s price action was modest, the news flow wasn’t: a union-aligned investor group has formally pressed Walmart to quantify how U.S. immigration policy shifts could affect hiring and supply chains, and the conversation is spilling into the market’s broader “risk checklist” for mega-cap consumer staples. [2]
Walmart stock today: where WMT stands on Dec. 18, 2025
Walmart shares hovered near $115 Thursday, roughly flat-to-slightly lower on the session depending on the time window, after a strong 2025 run that many analysts have framed as a “quality growth” year for the retailer. [3]
From a bigger-picture perspective, Zacks’ recent commentary has highlighted Walmart’s 2025 outperformance and positioned the company as a durable, long-term compounder—though it also notes the stock’s recent momentum has been supported by upward earnings estimate revisions. [4]
The headline moving Walmart stock today: immigration policy questions land on the proxy calendar
The most market-relevant Walmart-specific development dated Dec. 18, 2025 came via Reuters: SOC Investment Group, a union-aligned investor organization, sent letters to Walmart, Amazon, and Alphabet asking how President Donald Trump’s immigration policies are affecting their finances and supply chains—and how they plan to navigate a proposed $100,000 fee for new H‑1B visa approvals. [5]
Why investors care: this is less about one quarter’s sales and more about operational capacity—skilled labor availability for corporate and tech functions, plus potential knock-on effects in logistics-adjacent labor markets (including trucking and farming) that support retail supply chains. SOC’s executive director, Tejal Patel, told Reuters that the ability to hire critical skills is tied to long-term company value, and SOC also signaled it could consider litigation if its proposals are not included in proxy materials. [6]
Financial media quickly amplified the angle for markets readers. TipRanks framed the story as a near-term sentiment drag—“Walmart stock dips”—while reiterating Reuters’ focus on supply chain and workforce exposure. [7]
CEO transition is back in focus as year-end approaches
Another theme resurfacing in today’s coverage: Walmart’s CEO succession plan.
Walmart previously announced that Doug McMillon will retire as President and CEO, and John Furner—currently running Walmart U.S.—will become President and CEO effective Feb. 1, 2026. McMillon is expected to retire on Jan. 31, 2026 and assist with transition (including continued board involvement for a period). [8]
On Dec. 18, Barron’s grouped Walmart’s leadership change alongside other major corporate transitions, arguing that succession planning at “American icons” is a feature—not a bug—for long-term shareholders. [9]
Market takeaway: leadership changes rarely move a business like Walmart overnight, but they can influence how investors handicap strategy priorities—especially around automation, e-commerce economics, and higher-margin growth lines like retail media.
Insider and shareholder activity: Walton Family Holdings Trust Form 4
Filing watchers also had a clear data point to discuss: a Form 4 tied to Walton Family Holdings Trust.
An SEC filing shows transactions dated Dec. 16, 2025 and filed Dec. 17, 2025, including:
- A distribution of 1,050,000 shares (transaction code “J”) to a trust beneficiary for no consideration, and
- Sales totaling 261,000 shares (255,838 shares and 5,162 shares), at weighted average prices of roughly $115.29 and $116.09. [10]
In context, the filing also reports the trust continued to hold hundreds of millions of shares after the transactions—so this reads more like estate/portfolio mechanics than a single “signal,” but it is still the kind of item that can influence short-term narratives around supply/demand in heavily owned large-caps. [11]
Forecasts and analyst outlook: what Wall Street expects for Walmart stock
Despite today’s policy-driven headline risk, the sell-side backdrop remains broadly constructive:
Consensus price targets point to modest upside
Aggregate tracking shows Walmart’s average 12-month price target clustered around the high-$110s to about $120, with a wider bull/bear range depending on the source and analyst set. [12]
- MarketBeat lists an average target around $120 and a range roughly $91 to $135. [13]
- StockAnalysis lists consensus as “Strong Buy” with an average target around $118 (with a similar low/high spread). [14]
Recent price-target activity
In the last couple of days, Truist Securities raised its Walmart price target to $127, pointing to strong execution (per Investing.com’s write-up). [15]
Earlier—after Q3 FY26 results—multiple firms cited by MarketBeat reiterated positive stances and lifted targets (examples included Morgan Stanley, Piper Sandler, and Guggenheim in that roundup). [16]
What analysts highlight in today’s “long-term” commentary
A Zacks note republished on Finviz on Dec. 18, 2025 describes Walmart as an omnichannel compounder, and emphasizes:
- Its positioning as more than a brick-and-mortar chain (delivery programs, Walmart+, Flipkart),
- A Zacks Rank #3 (Hold) framing, alongside style scores supportive for growth investors, and
- Upward revisions to FY2026 earnings estimates in the past 60 days (per Zacks’ methodology). [17]
Fundamentals check: the performance engine behind the WMT thesis
Much of the bullishness around Walmart stock in late 2025 has come from a familiar playbook: steady core retail, plus faster-growing, higher-margin “adjacency” businesses that can improve mix over time.
In its Q3 FY26 materials (quarter ended Oct. 31, 2025), Walmart reported:
- Total revenue up 5.8% (constant currency: 6.0%), [18]
- Global e-commerce up 27%, [19]
- Walmart U.S. e-commerce up 28%, and commentary that roughly 35% of store-fulfilled orders arrived in under three hours, with “expedited” sales up sharply, [20]
- Global advertising up 53% (with Walmart Connect U.S. growth also cited in the release). [21]
Reuters also reported that Walmart raised full-year outlook ranges again after that quarter, including higher net sales growth guidance and a higher adjusted EPS range—supporting the narrative that Walmart is capturing share while driving growth in digital and services. [22]
Risks in today’s news cycle: regulatory and legal overhangs investors are tracking
Beyond immigration-policy uncertainty, investors also have several “risk” items on the radar heading into 2026:
- FDA warning letters tied to recalled baby formula: Reuters reported the FDA sent warning letters to Walmart and other retailers over ByHeart infant formula that remained on shelves after recall notifications, with the agency setting response deadlines and warning of potential enforcement actions. [23]
- Payments litigation and swipe-fee negotiations: Payments Dive reported Walmart is pushing a federal judge to change how plaintiffs are grouped in card-fee litigation against Visa and Mastercard, arguing that large merchants’ interests diverge from the current class structure. [24]
These issues typically don’t define Walmart’s long-term earnings power on their own—but they can affect sentiment, headlines, and (in some cases) compliance costs.
What’s next for Walmart stock: the key catalysts into early 2026
Investors looking beyond today’s headlines have three near-term milestones circled:
- CEO handoff (Feb. 1, 2026): John Furner is slated to assume the CEO role, the most visible strategic transition Walmart has announced for 2026. [25]
- FY2026 Q4 earnings (Feb. 19, 2026): Walmart’s investor events calendar lists its Q4 earnings release and conference call for Feb. 19, 2026. [26]
- Investor conferences in January: Walmart’s events calendar also shows scheduled leadership participation at January conferences (including ICR). [27]
Separately, investors continue to digest Walmart’s stock-listing move: Walmart announced it would transfer its listing to Nasdaq while keeping the ticker WMT, with trading expected to begin on Nasdaq on Dec. 9, 2025 per the company’s statement. [28]
Bottom line
On Dec. 18, 2025, Walmart stock is being pulled by two forces at once: headline risk (immigration-policy scrutiny and other regulatory/legal items) and fundamentals-driven confidence (e-commerce scale, faster delivery economics, and higher-margin growth lines like advertising and memberships). [29]
For investors, the practical question into 2026 is whether Walmart can keep expanding its omnichannel “flywheel” fast enough to justify a premium consumer-staples valuation—while navigating policy-driven uncertainty that could influence labor and supply chain costs at the margin. [30]
References
1. stockanalysis.com, 2. www.reuters.com, 3. www.benzinga.com, 4. finviz.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.tipranks.com, 8. corporate.walmart.com, 9. www.barrons.com, 10. www.sec.gov, 11. www.sec.gov, 12. www.marketbeat.com, 13. www.marketbeat.com, 14. stockanalysis.com, 15. www.investing.com, 16. www.marketbeat.com, 17. finviz.com, 18. corporate.walmart.com, 19. corporate.walmart.com, 20. corporate.walmart.com, 21. corporate.walmart.com, 22. www.reuters.com, 23. www.reuters.com, 24. www.paymentsdive.com, 25. corporate.walmart.com, 26. corporate.walmart.com, 27. corporate.walmart.com, 28. corporate.walmart.com, 29. www.reuters.com, 30. finviz.com
