BENTONVILLE, Ark.—Doug McMillon, President and CEO of Walmart Inc. (NYSE:WMT), recently sold a significant portion of his holdings in the retail giant, as the stock trades near its 52-week high of $96.18. According to a regulatory filing, McMillon disposed of 29,124 shares of Walmart's common stock on January 23, 2025, at an average price of $92.62 per share. This transaction resulted in a total sale value of approximately $2.7 million. The sale comes as InvestingPro analysis suggests the stock is currently trading above its Fair Value, with shares up 77.44% over the past year.
Following the sale, McMillon retains ownership of 3,766,491.056 shares directly. Additionally, he holds shares indirectly through various trusts and plans, including a 401(k) and trusts for his children and wife.
The sale was executed as part of a pre-arranged trading plan under Rule 10b5-1, which McMillon entered during an open trading window. This plan was previously disclosed by Walmart in a Form 8-K filing in February 2023.
In other recent news, Symbotic Inc (NASDAQ:SYM). has announced a significant deal with retail giant Walmart. The agreement entails the acquisition of Walmart's Advanced Systems and Robotics business, enhancing Symbotic's product offerings and market potential. The deal is expected to add more than $5 billion to Symbotic's future backlog. Furthermore, the arrangement involves Symbotic developing and deploying an advanced solution for Walmart's Accelerated Pickup and Delivery centers, which will be funded by Walmart. The transaction is anticipated to close in Symbotic's fiscal second quarter of 2025.
In addition to the merger, TD Cowen analysts have maintained a Buy rating for Walmart, highlighting the company's strong performance in general merchandise and effective execution of the everyday low price strategy. Walmart's growth has been supported by its Walmart+ offerings, which include pickup and delivery services that provide convenience for customers.
Lastly, Walmart GoLocal, the company's delivery service, has partnered with IBM (NYSE:IBM) to streamline last-mile delivery for retailers. The integration with IBM's Sterling Order Management system is expected to enhance the delivery process for IBM retail clients who opt for Walmart GoLocal. Simultaneously, Walmart has unveiled an updated brand identity to reflect its transformation into a digital-first, omnichannel retailer.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.