Discount retailer Walmart (WMT) bought back nearly $1 billion U.S. of its own stock during the company’s fiscal second quarter that ended on July 26.
According to regulatory filings with the U.S. Securities and Exchange Commission (SEC), Walmart paid $994 million U.S. to repurchase 15.1 million of its own shares.
The share repurchases were made at prices ranging from $62.19 U.S. to $69.66 U.S. each.
At the end of July, Walmart still had $14.5 billion U.S. allocated for stock buybacks under its current share repurchase program.
The stock buybacks come as Walmart’s share price has risen to record levels this year.
So far in 2024, Walmart’s stock has gained 49% and is currently trading at $79.06 U.S., near its 52-week high of $81.02 U.S.
Walmart’s stock buybacks look aggressive in comparison to other retailers, many of which have not repurchased any of their own shares this year.
Online retailer Amazon (AMZN), for example, hasn’t repurchased any stock this year even though it has set aside $6.1 billion U.S. to do so.
