Walmart Attracts New Institutional Investors Amidst Performance Concerns

United Capital Financial Advisors LLC recently acquired a new stake in Walmart Inc. (NASDAQ:WMT) shares, buying 312,237 shares worth approximately $35,364,000 in the second quarter.

This is not an isolated incident; several other institutional investors have also made changes to their positions in Walmart during this period. For example, Dearborn Partners LLC bought a new stake in shares of Walmart in the second quarter worth about $22,742,000, while Lifetime Wealth Management P.C. purchased a new stake in shares of Walmart in the second quarter worth approximately $1,164,000.

Despite these investments, there are some concerns surrounding Walmart's performance. The company recently settled a U.S. Justice Department lawsuit alleging that its pharmacies unlawfully contributed to the opioid epidemic, which has removed an overhang and reduced legal uncertainty for investors.