http://247wallst.com/retail/2015/04/12/walton-family-does-not-want-to-own-wal-mart/
Last Friday the Walton family, heirs of Wal-Mart Stores Inc. (NYSE: WMT) founder Sam Walton, announced that the family business, Walton Enterprises LLC, would would distribute about 6% of its holdings to a newly created Walton Family Holdings Trust. The Walton family’s stake in Wal-Mart has risen to about 50% as a result of share buyback programs, and the family is satisfied to control the company’s biggest stake without actually owning enough stock to give them actual control.
In the press statement Walton Enterprises said:
Given the prospect that Walmart may continue to buy back shares, the Walton family has informed Walmart that it currently expects to sell Walmart shares from time to time in order to help offset possible further increases in its ownership percentage and to help fund charitable contributions. The family believes that this is consistent with an appropriate balance of family and non-family ownership that supports the goals of all Walmart shareholders and long term business success.
Walmart is getting hammered in the market lately. Selling below their 50 and 200 day average.