SAN JOSE, Calif.—John D. Rainey, Executive Vice President of Walmart Inc. (NYSE:WMT), recently sold a portion of his holdings in the retail giant. According to a filing with the Securities and Exchange Commission, Rainey disposed of 3,000 shares on December 2, 2024, with the shares sold at a weighted average price of $92.4731, amounting to a total transaction value of approximately $277,419. The transaction comes as Walmart's stock trades near its 52-week high of $93.59, having delivered an impressive 84% return over the past year. InvestingPro analysis indicates the stock is currently in overbought territory.
The sale was conducted under a pre-established Rule 10b5-1 trading plan, which was disclosed earlier this year. Following this transaction, Rainey retains ownership of 375,165.103 shares in Walmart. The transaction was executed in multiple trades, with prices ranging from $91.9750 to $92.9100 per share. With Walmart's market capitalization now at $759.45 billion and trading at an elevated P/E ratio of 38.7, InvestingPro subscribers can access 18 additional key insights and a comprehensive Pro Research Report, offering detailed analysis of the retail giant's valuation and growth prospects.
In other recent news, Walmart has finalized its acquisition of consumer electronics company VIZIO, a move intended to bolster Walmart Connect, its U.S. advertising business. This transaction, valued at approximately $2.3 billion, has resulted in VIZIO becoming a wholly owned subsidiary of Walmart. Despite the acquisition, both entities will operate independently for the foreseeable future.
In addition to this, Walmart has reported strong third-quarter earnings, with an earnings per share (EPS) of $0.58, surpassing analysts' projections by $0.05. The company's consolidated revenues increased by 5.5%, and U.S. comparable sales rose by 5.3%, exceeding the 4.0% estimate. Global eCommerce sales also experienced a significant increase of 27%.
Several financial firms, including Barclays (LON:BARC), KeyBanc Capital Markets, Piper Sandler, Baird, Guggenheim, and RBC Capital Markets, have adjusted their outlooks on Walmart, maintaining positive ratings and raising their price targets. Kathryn McLay, Executive Vice President, President, and CEO of Walmart International, has established a prearranged stock trading plan, selling 4,000 shares of Walmart common stock monthly from March 2025 through December 2025.
Furthermore, BofA has highlighted Walmart's successful execution of a well-planned holiday sales strategy, which included early deal launches, exclusive access for loyalty members, and significant discounts on membership fees. Lastly, KeyBanc has provided insights into the mixed retail spending trends post Black Friday, suggesting that retailers like Lowe's (NYSE:LOW), Target (NYSE:TGT), and Wayfair (NYSE:W) may see more favorable year-over-year comparisons in the coming periods.
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