Walmart's Big Insider Trade! Founding Walton Family Sells $329M of WMT Stock
The Walton Family Holdings Trust, a majority shareholder (more than 10% owner) of the American big-box retailer Walmart (WMT), recently sold common stock valued at approximately $329.64 million. This transaction marks the sixth big Informative Sell transaction by the trust this year, implying a continued reduction in its ownership. The Walton Family Holdings Trust, owned by the Walton Family, is the largest shareholder of the retailer and also holds the most voting power.
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Walmart was founded roughly six decades ago by brothers Sam and Bud Walton from the Walton family. Today, the Walton family is recognized as one of the wealthiest in the world. The family's current heirs, Jim Walton, Alice Walton, and Rob Walton, also serve as co-trustees of the Walton Family Holdings Trust.
A corporate insider's share sale usually signals caution about the company's future potential. However, an insider might sell shares for other reasons, such as financial or personal obligations.
A Closer Look at the Insider's Transactions
As per Form 4 filed with the SEC on June 26, the Walton Family Holdings Trust sold 3,356,619 WMT stock between on June 24 and June 25. Shares were sold in three tranches at weighted average prices ranging between $98.1225 and $99.0311 apiece.
Following the latest share sale, the trust still owns 552,609,839 WMT common shares worth $53.06 billion, based on Thursday's closing stock price of $96.02. The exact intent of the trust's share sale remains unknown at the moment.
WMT stock currently has a Very Negative Insider Confidence Signal on TipRanks, based on Informative Sell transactions worth $1.6 billion, undertaken in the last three months.
It is important to keep an eye on the Informative trades of corporate insiders, given their knowledge of a company's growth potential. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Walmart a Long-Term Buy?
On TipRanks, WMT stock has a Strong Buy consensus rating based on 28 Buys and one Hold rating. Also, the average Walmart price target of $109.71 implies 14.3% upside potential from current levels. Year-to-date, WMT stock has gained 6.8%.
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