On June 2, 2023, Walmart announced its latest efforts to reduce packaging waste associated with online orders. The retail giant plans to eliminate over 65 million plastic bag mailers, amounting to more than 2,000 tons of plastic, from circulation in the U.S. by the end of the current fiscal year. To achieve this, Walmart will ship nearly all orders in recyclable paper bag mailers. Additionally, customers across the U.S. will have the option to opt out of single-use plastic bags for their online pickup orders.
Walmart is also committed to reducing the amount of cardboard used to ship products to customers. The company will transition to right-sized packaging technology in approximately half of its fulfillment network. This initiative will allow customers shopping online to request the consolidation of multiple items into fewer boxes, thereby reducing waste and the number of shipments.
To further its sustainability goals, Walmart is utilizing applied AI to identify when an item purchased online can be fulfilled from stores instead of fulfillment centers. By doing so, the company can reduce transportation emissions and energy usage.
Finally, Walmart has set ambitious targets to achieve 100% recyclable, reusable, or industrially compostable packaging for its private brand packaging by 2025. These efforts demonstrate Walmart’s commitment to reducing its environmental impact and promoting sustainable practices throughout its operations.
Walmart Stock Opens Slightly Lower on June 2, 2023 with Low Trading Volume
On June 2, 2023, Walmart’s stock opened at $146.66, down from the previous day’s close of $147.41. Throughout the day, the stock fluctuated between a low of $145.95 and a high of $147.89. The trading volume was relatively low, with only 2,402 shares traded, compared to an average volume of 6,319,630 shares over the past three months.
Walmart Inc Stock Forecast: Potential Increase of 14.65% in the Next 12 Months
On June 2, 2023, Walmart Inc (WMT) stock was trading at $147.40 per share. According to the 35 analysts who offer 12-month price forecasts for the company, the median target price for WMT stock is $169.00, with a high estimate of $180.00 and a low estimate of $145.00. This indicates a potential increase of 14.65% from the last price of $147.40.
The current consensus among 40 polled investment analysts is to buy stock in Walmart Inc, a rating that has held steady since April.
Walmart Inc is a retail giant that operates a chain of hypermarkets, discount department stores, and grocery stores. The company has been expanding its e-commerce capabilities in recent years, with the acquisition of online retailer Jet.com and the launch of its own online marketplace.
In the current quarter, Walmart Inc reported earnings per share of $1.68 and sales of $159.2 billion. The company is set to report its next earnings on August 17, 2023.
Overall, the outlook for Walmart Inc appears positive, with analysts forecasting a potential increase in the stock price over the next 12 months. The company’s continued investment in e-commerce and its strong financial performance are likely to drive growth in the coming years. As such, investors may want to consider buying WMT stock as part of a diversified portfolio.
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