Walton family’s trust sold more than $750 million worth of Walmart stock the past 2 weeks

Walmart Inc. disclosed that the Walton family’s s trust sold nearly $375 million worth of the retail giant’s stock last week.

That follows sales by the trust of more than $375 million worth of stock the week before.

In Form 4 filings with the Securities and Exchange Commission late Thursday, Walmart said that the Walton Family Holdings Trust sold a total of 2.63 million shares in the open market over the previous three days valued at $374.37 million, at a weighted-average price of $142.174, based on a MarketWatch calculation of SEC data.

The shares sold made up 13.2% of the total trading volume over those three days, based on FactSet data.

Walmart’s stock
WMT,
-0.34%

rose 0.3% in afternoon trading, and has gained 2.3% over the past two weeks, to put the retailer’s market capitalization at a little more than $401 billion. Year to date, the stock has slipped 1.0%, while the SPDR Consumer Staples Select Sector exchange-traded fund
XLP,
-0.62%

has advanced 5.1% and the Dow Jones Industrial Average
DJIA,
+0.41%

has climbed 12.5%.

The sales by the trust were filed under the names of trustees Jim Walton, Alice Walton and S. Robson “Rob” Walton, who is currently on Walmart’s board of directors. “The reporting person disclaims beneficial ownership of the reported securities held by the Trust except to the extent of [their] pecuniary interest therein,” the filings said.

Jim, Alice and Rob Walton were all listed among the world’s 25 richest people, with Jim ranking 18, Rob ranking 19 and Alice at 21, according to the latest reading of the Bloomberg Billionaires Index.

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The trust’s sales represented just 0.75% of its holding of common stock. The trust still owned 349.39 million common shares after the sales, or about 12.4% of the common stock outstanding. At current prices, that stake is valued at about $49.84 billion. The shares are listed as being indirectly owned by the Waltons.

Last week, filings showed that the Walton family trust sold a total of 2.65 shares in the open market at a weighted average price of $142.1869 to raise $377.26 million.

So in total, the trust sold 5.29 million shares, or 1.49% of its stake, at a weighted average price of $142.1804 to raise $751.63 million.

The company has previously said that stock sales are consistent with the Walton family’s effort to maintain an appropriate balance of family and non-family ownership of the company, by offsetting possible increases in its ownership percentage and helping fund charitable contributions.

On March 5, Walton Enterprises LLC transferred about 14% of Walmart’s outstanding shares to the Walton Family Holdings Trust. The latest filings also showed that Walton Enterprises owns 1.00 billion common shares, which are currently valued at $142.79 billion.

Separately, Walmart also disclosed late Thursday that Controller David Chojnowski sold 5,946 shares in the open market on Monday at a weighted average price of $142.165 to raise $845,313, and Dan Bartlett, executive vice president of corporate affairs, sold 13,000 shares in the open market on Tuesday at weighted average price of $141.8309 to raise $1,843,802.

And last week, Chief Legal Officer Rachel Brand sold 7,500 shares in the open market at $142.177 to raise $1,066,328 and Chief Executive of Walmart U.S. John Furner sold 27,000 shares in the open market at $141.8313 to raise $3,829,445.

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Here are some details on the Walton trust’s share sales the past two weeks:

  • A total of 554,113 shares were sold Wednesday at $142.2173, again above the VWAP for that day of $142.1927.

  • A total of 1,338,879 shares were sold Tuesday at $142.1728, which compares favorably with the VWAP for that day of $142.1226.

  • A total of 740,227 shares were sold Monday at a weighted average price of $142.1431, which was above the volume weighted average price (VWAP) for that date of $142.0456, according to FactSet.

  • On May 21, the trust sold a total of 518,839 shares at 142.1902, compared with the VWAP that day of $142.1217.

  • On May 20, the trust sold 1,549,788 shares at 142.2663, above the VWAP for that day of $142.2095.

  • On May 19, 584,625 shares were sold at $141.9736, below the VWAP of $142.0785.

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