Cohen Klingenstein LLC lessened its holdings in The Walt Disney Company (NYSE:DIS - Free Report) by 10.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 554,191 shares of the entertainment giant's stock after selling 67,335 shares during the period. Walt Disney accounts for approximately 2.1% of Cohen Klingenstein LLC's portfolio, making the stock its 10th largest holding. Cohen Klingenstein LLC's holdings in Walt Disney were worth $61,709,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. William B. Walkup & Associates Inc. bought a new stake in shares of Walt Disney during the 2nd quarter worth $32,000. Friedenthal Financial bought a new stake in Walt Disney in the 4th quarter worth approximately $49,000. Retirement Wealth Solutions LLC purchased a new position in shares of Walt Disney during the fourth quarter worth approximately $50,000. Birch Capital Management LLC bought a new stake in shares of Walt Disney in the 4th quarter worth approximately $56,000. Finally, First PREMIER Bank boosted its stake in shares of Walt Disney by 98.1% in the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant's stock valued at $50,000 after purchasing an additional 256 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.
Walt Disney Stock Up 0.6 %
Shares of NYSE:DIS traded up $0.61 during midday trading on Friday, reaching $107.07. The company's stock had a trading volume of 7,103,097 shares, compared to its average volume of 6,534,095. The firm has a market capitalization of $193.90 billion, a P/E ratio of 39.51, a PEG ratio of 1.94 and a beta of 1.43. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The Walt Disney Company has a 12-month low of $83.91 and a 12-month high of $123.74. The firm has a 50 day moving average of $112.08 and a 200-day moving average of $99.67.
Walt Disney (NYSE:DIS - Get Free Report) last released its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm had revenue of $22.57 billion for the quarter, compared to analysts' expectations of $22.49 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current year.
Walt Disney Increases Dividend
The firm also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a yield of 0.6%. This is an increase from Walt Disney's previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. Walt Disney's dividend payout ratio (DPR) is currently 36.90%.
Insiders Place Their Bets
In other news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the transaction, the chief executive officer now owns 226,767 shares in the company, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the transaction, the executive vice president now owns 44,055 shares in the company, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,412 shares of company stock valued at $44,153,263. Corporate insiders own 0.10% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on DIS. Piper Sandler started coverage on shares of Walt Disney in a research report on Wednesday, October 16th. They issued a "neutral" rating and a $95.00 target price on the stock. Sanford C. Bernstein lifted their price objective on Walt Disney from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. Loop Capital increased their target price on Walt Disney from $120.00 to $125.00 and gave the company a "buy" rating in a report on Friday, November 15th. Redburn Atlantic raised Walt Disney from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $100.00 to $147.00 in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company increased their price objective on Walt Disney from $116.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $125.54.
Read Our Latest Research Report on DIS
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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