Smart shoppers want to get more for less, and the same is true for investors looking for their next portfolio addition. Let's explore the reasons why Walmart (NYSE: WMT) and Johnson & Johnson (NYSE: JNJ) offer some of the best bargains for your investing buck in the stock market right now. 1. Walmart With a forward price-to-earnings (P/E) ratio of 24, Walmart isn't the quintessential example of a value stock. But it is significantly cheaper than the S&P 500 average P/E of 39, and shares look downright affordable considering its potential to become a market leader in e-commerce. E-commerce is the future of retail, and the coronavirus pandemic accelerated this transition. Digital penetration in retail hit 21% in 2020, up from just 16% in 2019, and Walmart's future will depend on how well it can adapt to this evolving industry. So far, the company is doing a bang-up job -- launching its membership platform, Walmart+, in September. Image source: Getty Images. Charging subscribers $98 per year, Walmart has positioned itself as an affordable alternative to Amazon's Prime membership, which costs $119 per year. And while Walmart+ doesn't currently offer nifty perks like movie or music streaming, its network of over 4,700 locations lets it match or potentially exceed Amazon Prime in last-mile delivery (Amazon's Whole Foods subsidiary only has 500 locations). According to CEO Doug McMillon, Walmart plans to add more benefits to Walmart+ to "broaden its appeal," but he has been tight-lipped about the details so far. Walmart's fourth-quarter revenue grew 7.3% to $152 billion, while adjusted earnings per share (EPS) rose 0.7% to $1.39. The company also returns value to investors through a 1.7% dividend that it has increased for 48 consecutive years, earning Dividend Aristocrat status. 2. Johnson & Johnson Johnson & Johnson is a value stock that can hold its own in any economic environment. The mega-cap healthcare and consumer goods giant sports a forward price-to-earnings multiple of just 17. And it sells products that maintain demand during recessions (and pandemics), such as over-the-counter medications, baby care, and pharmaceuticals. Its new COVID-19 vaccine could also help boost growth over the long term. Johnson & Johnson's vaccine received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration in February. The company plans to ship 100 million doses in the U.S. by the end of June and an additional 100 million doses by the end of the year. Image source: Getty Images. The vaccine has been determined to be 72% effective at preventing moderate to severe disease in the U.S. -- compared to the double-dose vaccines of Moderna and Pfizer, which boast efficacy rates of 94% and 95%, respectively. All three vaccines are considered to be nearly 100% effective at preventing death from the coronavirus. But Johnson & Johnson's vaccine has an advantage in logistics because it only needs one dose to work and requires a less elaborate cold-storage chain. The company isn't producing the vaccine for profit during the pandemic but could increase prices after the immediate crisis ends. Fourth-quarter sales increased 8.3% to $22.5 billion as strong pharmaceutical sales helped offset weakness in the medical devices segment. Like Walmart, the company is a Dividend Aristocrat with 58 consecutive years of payout growth. The stock currently yields 2.6%. Bang for your buck With the S&P 500 trading at an unusually high P/E ratio of 39 (compared to its historical average of 16), now is the time to bet on value stocks. Walmart and Johnson & Johnson are poised for long-term success because of their crisis-proof business models and ability to quickly pivot to new opportunities such as e-commerce and vaccines. 10 stocks we like better than Johnson & JohnsonWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Johnson & Johnson wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Johnson & Johnson and Moderna Inc and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool has a disclosure policy.Source