Lewis Asset Management LLC Reduces Stock Position in The Walt Disney Company (NYSE:DIS)

Lewis Asset Management LLC lessened its stake in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 58.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,151 shares of the entertainment giant's stock after selling 3,081 shares during the period. Lewis Asset Management LLC's holdings in Walt Disney were worth $240,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Advisory Alpha LLC increased its position in Walt Disney by 13.1% during the 2nd quarter. Advisory Alpha LLC now owns 7,014 shares of the entertainment giant's stock worth $696,000 after buying an additional 813 shares during the period. 3Chopt Investment Partners LLC bought a new position in Walt Disney during the 2nd quarter worth $509,000. RiverFront Investment Group LLC lifted its position in shares of Walt Disney by 3.9% during the 2nd quarter. RiverFront Investment Group LLC now owns 5,780 shares of the entertainment giant's stock valued at $574,000 after acquiring an additional 216 shares during the period. Farmers National Bank lifted its position in Walt Disney by 4.6% during the second quarter. Farmers National Bank now owns 49,627 shares of the entertainment giant's stock worth $4,927,000 after purchasing an additional 2,200 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Walt Disney during the 2nd quarter worth approximately $246,000. Institutional investors and hedge funds own 65.71% of the company's stock.

Insider Activity

In other news, CEO Robert A. Iger sold 372,412 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 226,767 shares of the company's stock, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the transaction, the executive vice president now owns 44,055 shares of the company's stock, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

DIS has been the subject of several research analyst reports. Needham & Company LLC boosted their target price on Walt Disney from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Sanford C. Bernstein increased their price objective on Walt Disney from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Loop Capital raised their price objective on Walt Disney from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Morgan Stanley increased their target price on shares of Walt Disney from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Finally, Piper Sandler began coverage on shares of Walt Disney in a research report on Wednesday, October 16th. They set a "neutral" rating and a $95.00 price target on the stock. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $125.52.

Walt Disney Stock Performance

Walt Disney stock traded up $0.11 during trading on Thursday, hitting $113.30. The stock had a trading volume of 6,232,387 shares, compared to its average volume of 7,328,960. 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 stock's 50 day moving average is $112.43 and its two-hundred day moving average is $100.44. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The stock has a market cap of $205.18 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 1.95 and a beta of 1.43.

Walt Disney (NYSE:DIS - Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, beating the consensus estimate of $1.09 by $0.05. The business had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The company's revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. As a group, analysts predict that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Walt Disney's previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. Walt Disney's dividend payout ratio is currently 36.90%.

About Walt Disney

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.