(Bloomberg) — Members of the Walton family have sold 16.7 million shares of Walmart Inc. this year as they try to keep their stake in the world’s biggest retailer from ballooning amid the company’s stock buybacks.
The Walton Family Holdings Trust sold $430 million worth over the past week, taking their total sales to almost $2.1 billion since Jan. 1, according to Securities and Exchange Commission filings. The notifications were filed on behalf of second-generation family members Alice, Rob and Jim Walton.
The family owns about half of the retailer’s outstanding shares through the trust and their main investment vehicle, Walton Enterprises.
The trust has been their main vehicle for share sales in recent years. They shifted 194 million shares to it in 2015 — almost all of which they subsequently sold — and moved 415 million more last year….