Walmart Stock (WMT) Feels The Strain of Consumer Boycott

U.S. retail giant Walmart (WMT) is halfway through a shopper boycott and its stock has started to take the strain.

Corporate Greed Accusation

Advocacy group People’s Union USA is leading a boycott of Walmart between May 20 and May 26 driven by ire over the company allegedly “crushing small businesses” and “underpaying” its employees. That list has since been added to by the group’s decision today to cut 1,500 jobs as part of a company restructuring.

The boycott is both in-store and online at Walmart and affiliated Walmart-branded companies such as Sam’s Club and private label brands including Great Value and Equate.

People’s Union founder John Schwarz has accused Walmart of corporate greed. That largely follows the company stating that it was set to hike prices as a result of President Trump’s tariff plan.

“As if they are not already raking in billions, as if they can’t absorb the cost. As if you and I should carry this burden,” Schwarz said.

Sales Pressure

Walmart stock has dropped 0.5% over the last few days, but perhaps its bosses don’t need to fret too much.

Schwarz led an economic blackout of Amazon (AMZN) earlier this year, hitting Alexa, Prime Video and Whole Foods. He wanted Amazon to suffer a dip in sales.

However, analysis after the boycott found that sales had not been impacted.

Despite the rhetoric, Schwarz has tapped into consumer concerns about prices and the power of U.S. retail and tech. Sentiment can play a part in determining how well companies perform.

That was seen earlier this week when retailer Target (TGT) blamed its scaling back of DEI for a slump in sales.

Is WMT a Good Stock to Buy Now?

On TipRanks, WMT has a Strong Buy consensus based on 28 Buy and 2 Hold ratings. Its highest price target is $120. WMT stock’s consensus price target is $109.31 implying an 13.76% upside.

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