Former Wal-Mart (WMT) CEO Lee Scott sold 100,000 shares in the retailing giant on Friday, reducing his direct stake in the company by about 14%, according to a filing released late on Tuesday. Scott sold the shares for $57.17 each on average. He still owns about 607,000 shares directly, not including any options he may still have. Scott had not sold shares since March of 2010, when he also sold about $5.7 million worth, according to InsiderScore.com.
Wal-Mart stock has recently been showing strength as the company has been able to increase its same-store sales. Shares are trading 1.4% higher today at $58.96.
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