Billionaire Israel Englander sold 8.1 million shares of Walmart stock, likely to lock in profits

From Nasdaq: 2024-11-29 08:30:00

Israel “Izzy” Englander’s hedge fund, Millennium Management, sold 8.1 million shares of Walmart during the third quarter after consistently adding to its position in the company in previous quarters. Walmart has seen growth in same-store sales across various regions, driven by its competitive pricing strategy attracting more consumers.

Walmart’s stock price has surged in the past three years, with a total return of 93%, nearly triple that of the S&P 500. Despite Walmart’s strong performance, Millennium likely reduced its stake in Walmart to lock in profits and rebalance its portfolio towards high-growth opportunities like artificial intelligence and healthcare.

The Motley Fool Stock Advisor team did not include Walmart among their 10 best stock picks, suggesting investors consider other options for potentially higher returns. John Mackey, former Whole Foods CEO, is on The Motley Fool’s board and has positions in Amazon, Apple, Eli Lilly, and Microsoft. The Motley Fool recommends Amazon, Apple, Microsoft, Spotify, Target, and Walmart.



Read more at Nasdaq: Does Billionaire Israel Englander Know Something Wall Street Doesn’t? The Billionaire Investor Just Sold 8.1 Million Shares of Walmart Stock.