BancFirst Trust Buys 320,000 Walmart Shares as Stock Climbs Toward Record Highs

Key Points

• BancFirst Trust bought 321,546 shares of Walmart in the third quarter—a transaction valued at an estimated $32 million.

• The transaction value represented about 7.5% of the fund's AUM for the quarter.

• After the trade, BancFirst held about 326,622 Walmart shares valued at $33.7 million, as of Tuesday.

• The Walmart stake now accounts for 7.9% of reportable assets, making it the fund’s third-largest holding.

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BancFirst Trust & Investment Management disclosed a significant purchase of Walmart shares in the third quarter, valued at an estimated $32 million, according to an SEC filing released on Wednesday.

What happened

According to a Securities and Exchange Commission (SEC) filing on Wednesday, Oklahoma-based BancFirst Trust & Investment Management added 321,546 shares of Walmart(NYSE:WMT) during the third quarter. The estimated transaction value, based on the average price for the quarter, was about $32 million. After the transaction, the fund held 326,622 shares, with a quarter-end value of $33.7 million.

What else to know

The transaction lifted BancFirst's Walmart holding to nearly 7.9% of 13F assets under management, as of Tuesday.

Top holdings after the filing:

• BANF: $225.65 million (52.7% of AUM)
• XOM: $74.94 million (17.5% of AUM)
• WMT: $33.67 million (7.9% of AUM)
• VBR: $19.84 million (4.6% of AUM)
• BND: $11.80 million (2.8% of AUM)

As of Tuesday, Walmart shares were priced at $103.06, up nearly 28% over the year and outperforming the S&P 500 by about 10 percentage points.

Company Overview

Company Snapshot

Walmart offers a comprehensive range of products, including groceries, consumables, health and wellness items, apparel, home goods, electronics, and financial services through physical stores and e-commerce platforms.

The company generates revenue primarily through high-volume retail sales in its Walmart U.S., Walmart International, and Sam's Club segments, and it serves a broad base of value-oriented consumers globally, targeting individuals and families seeking affordable everyday essentials and discretionary products.

Foolish take

Walmart’s stock has performed in line with the broader S&P 500 this year—climbing 13%, compared to the index's 14% gain. For a blue-chip that’s already trading near all-time highs, that’s a solid showing, and the company’s latest quarterly report shows why. In August, Walmart reported stronger-than-expected U.S. sales and global advertising growth of 46%. On the firm's quarterly earnings call, Chief Financial Officer John David touted Walmart's ability to gain market share despite the current period of economic uncertainty, and said the company was lifting its sales guidance as a result—projecting full-year growth of 3.75% to 4.75%.

For investors, the question is less about whether Walmart will keep growing—it likely will—and more about whether today’s valuation fairly prices in that stability. Walmart continues to flex its scale advantage, delivering steady sales growth while leaning into higher-margin businesses like advertising, membership, and financial services. At the same time, Walmart’s e-commerce momentum remains impressive, with digital sales jumping more than 25% last quarter. Its ability to turn thousands of stores into fulfillment hubs has become a moat, allowing faster and cheaper delivery than most rivals. For income and stability seekers, Walmart remains a dependable blue-chip.

Glossary

AUM: Assets Under Management – The total market value of investments managed by a fund or institution.
13F assets: Securities reported by institutional investment managers in quarterly SEC Form 13F filings, typically covering U.S.-listed equities.
Dividend Yield: Annual dividend income expressed as a percentage of the stock's current price.
Quarter-end: The last day of a fiscal quarter, used as a reference point for financial reporting.
TTM: The 12-month period ending with the most recent quarterly report.
Discretionary products: Non-essential goods that consumers may purchase when they have extra income, such as apparel or electronics.
Fund holding: The amount of a particular security owned by an investment fund.
Outperforming: Achieving a higher return than a specified benchmark or index over a given period.
Trade value: The total dollar amount of a transaction, calculated as price per share times number of shares traded.

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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard Total Bond Market ETF and Walmart. The Motley Fool has a disclosure policy.