A trust set up by the children of Walmart Inc. founder Sam Walton sold more than 550,000 shares of company stock and distributed another 160,000 shares, according to a recent filing with the Securities and Exchange Commission.
The Walton Family Holdings Trust on Tuesday sold 550,958 shares of stock in multiple trades with a weighted average sale price of $82.98 for a total sale value of around $45.7 million.
The trust also distributed 160,000 shares to an unnamed beneficiary, according to the filing. At Friday's market close those shares were valued at $13.57 million.
The trust was established about three years ago by Walton Enterprises LLC, a holding company owned by Walton's heirs. The Walton Family Trust has 74,426,947 shares of common stock remaining, according to documents. Walton Enterprises LLC holds 1.42 billion shares, about half of all outstanding shares.