Merit Financial Group LLC Grows Position in The Walt Disney Company (NYSE:DIS)

Merit Financial Group LLC boosted its stake in shares of The Walt Disney Company (NYSE:DIS) by 18.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,900 shares of the entertainment giant’s stock after buying an additional 5,955 shares during the period. Merit Financial Group LLC’s holdings in Walt Disney were worth $4,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of DIS. William B. Walkup & Associates Inc. bought a new stake in shares of Walt Disney in the second quarter worth about $32,000. Friedenthal Financial purchased a new position in Walt Disney during the 4th quarter valued at approximately $49,000. First PREMIER Bank increased its stake in Walt Disney by 98.1% in the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after acquiring an additional 256 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Walt Disney during the 3rd quarter worth approximately $51,000. Finally, Birch Capital Management LLC bought a new position in shares of Walt Disney during the 4th quarter valued at approximately $56,000. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Stock Up 0.6 %

NYSE:DIS opened at $107.07 on Friday. The company’s 50-day simple moving average is $112.08 and its 200-day simple moving average is $99.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74. The stock has a market capitalization of $193.90 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.94 and a beta of 1.43.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The business had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Insider Transactions at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of 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 at this link. Also, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total value of $568,100.00. Following the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,005,529.10. This trade represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,412 shares of company stock worth $44,153,263. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DIS. Loop Capital boosted their price objective on Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upped their price target on shares of Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler assumed coverage on Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price for the company. Wells Fargo & Company increased their price target on Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.54.

Walt Disney Company Profile

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.