Shares of Walmart jumped more than 4% on Monday, February 2, 2026, following the announcement of a major trade agreement between the United States and India, according to The Motley Fool. This surge came after U.S. President Donald Trump and Indian Prime Minister Narendra Modi revealed a deal to reduce tariffs on each country’s exports. Modi also pledged that India would purchase more American-made products, a move that is expected to benefit U.S. retailers with significant exposure to India's rapidly expanding economy.
Walmart, the world’s largest retailer, stands out among those set to gain from this blockbuster agreement. Over recent years, Walmart has strategically shifted more of its supply chain operations to India, aiming to reduce its longstanding dependence on China. The company’s ambitions in India are bold: in June 2025, then-CEO Doug McMillon stated that Walmart planned to source $10 billion worth of goods from India by 2027. This commitment underscores Walmart’s confidence in the country’s manufacturing base and its growing consumer market.
But Walmart’s ties to India don’t end with its supply chain. The company holds an approximately 80% equity stake in Flipkart, a leading Indian e-commerce platform. Walmart’s initial investment in Flipkart, made in 2018, totaled about $16 billion; since then, it has increased its ownership several times. This significant presence in India positions Walmart to benefit not only from increased trade but also from the country’s broader economic expansion.
Back in the U.S., Walmart’s stock performance has also been shaped by the activity of institutional investors and company insiders. On February 3, 2026, MarketBeat reported that Callan Family Office LLC had reduced its stake in Walmart by 8.7% during the third quarter of 2025, selling 14,396 shares and holding 151,276 shares valued at $15,591,000. Other institutional investors made smaller adjustments to their holdings throughout the second and third quarters, with firms like Revolve Wealth Partners LLC, Atlas Legacy Advisors LLC, Meridian Wealth Partners LLC, Hemington Wealth Management, and Boomfish Wealth Group LLC all modestly increasing their positions. As of early February, 26.76% of Walmart’s stock was owned by hedge funds and other institutional investors.
Insider trading activity has also drawn attention. CEO C Douglas McMillon sold 19,416 shares of Walmart stock on December 26, 2025, at an average price of $111.83, netting approximately $2,171,291.28. After the transaction, McMillon directly owned over 4.3 million shares, valued at nearly $483 million. Meanwhile, Executive Vice President Donna Morris sold 9,384 shares on January 14, 2026, at an average price of $120.19, for a total of about $1,127,863. After this sale, Morris retained ownership of more than half a million shares, worth over $64 million. Over the preceding 90 days, insiders collectively sold 133,015 shares of Walmart stock, valued at $15,082,012. Despite these sales, only 0.10% of the company’s stock is currently held by insiders, according to MarketBeat.
Walmart’s financial performance remains robust. On November 20, 2025, the company reported quarterly earnings per share of $0.62, beating consensus estimates by $0.02. Revenue for the quarter reached $179.50 billion, a 5.8% increase from the previous year. Walmart also set its fiscal year 2026 earnings guidance at $2.58 to $2.63 per share, signaling continued confidence in its growth trajectory. On February 3, 2026, Walmart’s stock opened at $124.06, with a 52-week range between $79.81 and $124.20. The company’s market capitalization stood at $988.78 billion, with a price-to-earnings (P/E) ratio of 43.38 and a beta of 0.66, reflecting relatively low volatility compared to the broader market.
Analyst sentiment toward Walmart remains overwhelmingly positive. Thirty-two research analysts have assigned the stock a Buy rating, while two have rated it as Hold. The consensus rating is "Moderate Buy," with an average price target of $123.37. According to MarketBeat, several firms—including Raymond James Financial, BMO Capital Markets, Truist Financial, Mizuho, and The Goldman Sachs Group—have reaffirmed their bullish outlook on Walmart, setting price targets ranging from $121 to $127. This optimism is fueled by Walmart’s ability to deliver steady earnings growth and adapt to shifting global trade dynamics.
Walmart’s business model is a study in scale and adaptability. The company operates a broad portfolio of store formats, from massive supercenters and discount department stores to neighborhood groceries and Sam’s Club warehouse locations. Its merchandising mix covers everything from groceries and household goods to apparel, electronics, and pharmacy services. Walmart has also invested heavily in private-label products and category-specific offerings. In recent years, the company has paired its expansive brick-and-mortar network with robust online platforms and mobile applications, providing customers with a seamless omnichannel shopping experience that includes fulfillment and delivery options.
Founded in 1962 by Sam Walton, Walmart’s headquarters remain in Bentonville, Arkansas. The company’s journey from a single store in Rogers, Arkansas to a global retail powerhouse is well documented, but its latest moves—especially those involving India—highlight a willingness to evolve in response to new economic realities and opportunities.
The recent U.S.-India trade agreement is likely to accelerate these trends. By reducing tariffs and encouraging more cross-border commerce, the deal creates new avenues for Walmart to source goods more efficiently and reach more consumers, both in India and the United States. The company’s strategic focus on India, both as a supply chain hub and a consumer market, appears to be paying off—not just in terms of share price, but in long-term growth prospects as well.
Walmart’s recent performance, both in the stock market and on the ground in India, underscores its ability to navigate complex global trade environments and capitalize on emerging opportunities. With strong institutional support, positive analyst sentiment, and a clear strategic vision, Walmart seems well positioned to maintain its leadership in the retail sector, even as the landscape continues to shift.
As the dust settles on the landmark U.S.-India trade deal, all eyes will be on Walmart to see how it leverages its unique position in both markets. The coming months may well reveal whether this retail giant can turn bold promises into even bigger profits.