Stocks
Barbara Oil Co. Takes Stake in Walmart
Barbara Oil Co., an investment firm, has acquired a new position in Walmart Inc. (NASDAQ:WMT) after purchasing 110,000 shares of the retailer's stock during the second quarter.
The acquisition is valued at approximately $12.46 million and represents 4.2% of Barbara Oil Co.'s investment portfolio, making it the company's fourth-largest holding.
This move comes as Walmart continues to show momentum in its digital retail and higher-margin businesses, with global e-commerce increasing by 23% and advertising revenue surging by 38% in the second quarter.