Walton Trust Sells $256 Million of Wal-Mart Shares After Rebound
- About 6% of retailer’s stock was distributed to trust in 2015
- Family’s investment entities currently own 51% of company
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The Walton Family Holdings Trust sold $256 million of Wal-Mart Stores Inc. as shares hovered around highs for the year.
The trust unloaded 3.5 million shares at prices ranging from $72.45 to $74.28 on Aug. 19 and 22, according to a regulatory filing. Those transactions follow $104 million of sales at the end of June at prices between $70.67 and $71.86. Shares of the retailer have climbed this year after closing at a four-year low of $56.42 in November. Seventy-seven percent of analysts tracked by Bloomberg have a hold rating on the stock, with an average 12-month price target of $73.68.