Franklin Street Advisors Inc. NC reduced its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 230,644 shares of the entertainment giant's stock after selling 14,045 shares during the period. Walt Disney accounts for about 1.7% of Franklin Street Advisors Inc. NC's holdings, making the stock its 15th biggest position. Franklin Street Advisors Inc. NC's holdings in Walt Disney were worth $25,682,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its position in Walt Disney by 0.6% in the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant's stock worth $7,463,978,000 after acquiring an additional 490,681 shares during the period. Geode Capital Management LLC raised its position in shares of Walt Disney by 3.8% in the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant's stock valued at $3,609,833,000 after purchasing an additional 1,393,082 shares during the period. FMR LLC raised its position in shares of Walt Disney by 8.7% in the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant's stock valued at $3,310,539,000 after purchasing an additional 2,765,389 shares during the period. Legal & General Group Plc raised its position in shares of Walt Disney by 3.1% in the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant's stock valued at $1,417,958,000 after purchasing an additional 425,438 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Walt Disney by 3.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,850,678 shares of the entertainment giant's stock valued at $1,332,297,000 after purchasing an additional 454,678 shares during the period. Institutional investors own 65.71% of the company's stock.
Insider Buying and Selling at Walt Disney
In other news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of the sale, the chief executive officer now directly owns 226,767 shares in the company, valued at $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the sale, the executive vice president now owns 44,055 shares of the company's stock, valued at $5,054,870.70. This represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on DIS. Sanford C. Bernstein boosted their price target on shares of Walt Disney from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. Seaport Res Ptn raised shares of Walt Disney from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 30th. Wells Fargo & Company boosted their price target on shares of Walt Disney from $116.00 to $138.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Piper Sandler assumed coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a "neutral" rating and a $95.00 price objective for the company. Finally, Raymond James reiterated a "market perform" rating on shares of Walt Disney in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $125.54.
Get Our Latest Analysis on Walt Disney
Walt Disney Stock Down 1.0 %
NYSE DIS traded down $1.08 during trading hours on Friday, reaching $108.68. 8,824,379 shares of the company's stock traded hands, compared to its average volume of 6,968,688. The Walt Disney Company has a 52-week low of $83.91 and a 52-week high of $123.74. The firm has a market cap of $196.81 billion, a PE ratio of 40.10, a PEG ratio of 2.05 and a beta of 1.43. The firm has a 50-day simple moving average of $110.85 and a 200 day simple moving average of $99.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67.
Walt Disney (NYSE:DIS - Get Free Report) last issued its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The company had revenue of $22.57 billion during the quarter, compared to analysts' expectations of $22.49 billion. During the same period last year, the company posted $0.82 EPS. Walt Disney's revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that The Walt Disney Company will post 5.41 EPS for the current fiscal year.
Walt Disney Increases Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. This is a positive change from Walt Disney's previous semi-annual dividend of $0.45. This represents a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 16th. Walt Disney's dividend payout ratio (DPR) is currently 36.90%.
Walt Disney Company Profile
(
Free Report)
The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.
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