Jim Cramer Says "Walmart's Among the Best in the Business"

Walmart Inc. (NYSE:WMT) is one of the stocks Jim Cramer recently offered insights on. Cramer made some positive comments about the stock and the company’s quarter, as he commented:

“This stock was already one of the best performers in the group, but its valuation got a little stretched, trading around 40 times earnings, and longtime CEO Doug McMillon plans to retire, pass the baton to the head of Walmart US in February. Turns out there was nothing to worry about at all. When Walmart reported this morning, it blew away the numbers… When you put it all together, it’s no wonder the world’s largest retailer saw its stock surge more than 6% today, although it was actually down at one point in the early morning, making it the best-performing in the S&P 500.

Every part of the business, US International, Sam’s Club, performing well. E-commerce continues to grow like a weed. And Walmart’s somehow finding ways to bring in more high-income consumers and take care of the lower-income shoppers to boot. Thoughtful. Oh, and a surprising development, Walmart, after thorough discussion with the board that Doug McMillon initiated, is moving over to the Nasdaq.

Here’s the bottom line: Walmart stock still looks expensive on an earnings basis, but on days like today, you can see why so many investors are willing to pay up for it. At the end of the day, investors are willing to pay a premium for quality, and Walmart’s among the best in the business. This is one you have to hope will come down in a broader market sell-off. I don’t know if there’s any other way to get it at a discount.”

Walmart Inc. (NYSE:WMT) operates retail stores, warehouse clubs, and online platforms that sell groceries, everyday essentials, home goods, apparel, electronics, and more.

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Disclosure: None. This article is originally published at Insider Monkey.