Walton Family Holdings Trust sold about $535 million of Walmart shares last week, disposing of 3.86 million shares at an average price near $121. Walmart shares have declined over 12% from a May record high and trade at a P/E of 41.3 following a Hold downgrade.
Walton Family Holdings Trust executed a series of transactions on June 16, selling 3,860,251 shares at a weighted-average price of $120.99, 539,737 shares at $121.78 and 24,716 shares at $122.42, generating approximately $535 million. The trust also transferred 886,000 shares to a beneficiary without compensation, retaining over 502 million shares.
Walmart's stock climbed to a record high in May before retreating more than 12% by late June as investors locked in gains. The recent pullback follows a strong rally earlier this year that drove the share price to unprecedented levels.
Erste Group downgraded Walmart to Hold from Buy in early June, citing elevated valuation as the stock trades at a P/E ratio of 41.3. Of 42 analysts covering the stock, 36 recommend Strong Buy or Buy while four suggest Hold.
