Principal Financial Group Cuts Stake in Walmart Amid Hedge Fund Shake-Ups
Principal Financial Group Inc., an investment management company, sold 10,944 shares of Walmart Inc. (NASDAQ:WMT) in the second quarter, according to a recent 13F filing with the Securities & Exchange Commission.
The firm owned approximately 5,917,839 shares of Walmart's stock after selling these shares during the quarter and now owns about 0.07% of the retailer's total outstanding shares.
This sale is part of a broader trend in which some hedge funds have increased their stakes in Walmart, while others have reduced them.