Walmart’s (WMT) outgoing CEO Doug McMillon has been steadily selling company stock in recent months.
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McMillon announced earlier in November that he is retiring from Walmart in 2026, after running the discount retailer for the last 12 years. Filings with the U.S. Securities and Exchange Commission (SEC) show that McMillon has been consistently selling WMT stock throughout the summer and autumn months through a pre-arranged share sale plan.
Since at least June of this year, McMillon has sold 19,416 shares of WMT stock at the end of each month. Each sale has netted McMillon about $2 million. So far this year, the CEO has sold more than $10 million of Walmart stock as the share price has steadily risen and hit new all-time highs.
Pre-Planned Sales of WMT Stock
The sales were made under the SEC’s Rule 10b5-1, which allows insiders of public companies to sell stock they own at a predetermined time and price to prevent the impression that they are benefiting from insider knowledge of the company where they work.
McMillon has led Walmart since February 2014 and will continue to be employed by Walmart as an advisor through Jan. 31, 2027. During McMillon’s time as CEO, Walmart’s shares have risen nearly 300%. So far in 2025, WMT stock has gained 22% to trade at a record high on a split-adjusted basis.
Is WMT Stock a Buy?
The stock of Walmart has a consensus Strong Buy rating among 26 Wall Street analysts. That rating is based on 26 Buy recommendations issued in the last three months. The average WMT price target of $121.92 implies 11.58% upside from current levels.
