Retail giant Walmart (WMT) revealed a logo redesign yesterday, but shoppers and investors can’t be blamed for missing the change. The updated Walmart logo is largely the same as the original, using the same font but bolded. It also uses a deeper blue than the previous logo, but again, that’s not enough of a change for shoppers to notice.
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No matter the case, Walmart is proud of the change, claiming it harkens back to founder Sam Walton and his trademark trucker hats. The company will introduce this new logo to its e-commerce platforms in the coming weeks. After that, it will slowly bring it to its more than 10,000 stores.
Walmart’s choice to introduce a logo redesign now makes sense as its brick-and-mortar locations are undergoing renovations. That means it can update these stores while adding the new logo. While only a slight change, it does mark the first time in almost 20 years that the company has revitalized its logo.
What This Means for WMT Stock
Honestly, investors are largely unphased by the Walmart logo redesign. The stock dropped 1.58% during normal trading hours yesterday, a possible sign that shareholders were hoping for a more exciting update. Even so, that’s a small drop in the grand scheme of things, which the company will likely recover from soon.
Is WMT Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus for Walmart is Strong Buy based on 26 Buy and two Hold ratings over the last three months. With that comes an average price target of $99.56, a high of $115, and a low of $81. This represents a potential 8.77% upside for WMT shares.
