West Coast Financial LLC cut its stake in shares of The Walt Disney Company (NYSE:DIS – Free Report) by 7.6% in the fourth quarter, Holdings Channel reports. The fund owned 6,191 shares of the entertainment giant’s stock after selling 506 shares during the period. West Coast Financial LLC’s holdings in Walt Disney were worth $689,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Farmers Trust Co. boosted its stake in Walt Disney by 1.1% in the fourth quarter. Farmers Trust Co. now owns 8,483 shares of the entertainment giant’s stock worth $945,000 after purchasing an additional 92 shares in the last quarter. Smithfield Trust Co lifted its position in Walt Disney by 0.5% during the 3rd quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock worth $1,809,000 after buying an additional 102 shares in the last quarter. Drucker Wealth 3.0 LLC lifted its position in Walt Disney by 0.9% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock worth $1,121,000 after buying an additional 106 shares in the last quarter. Connable Office Inc. increased its position in Walt Disney by 0.3% in the 3rd quarter. Connable Office Inc. now owns 35,048 shares of the entertainment giant’s stock valued at $3,371,000 after acquiring an additional 108 shares in the last quarter. Finally, Cozad Asset Management Inc. raised its stake in shares of Walt Disney by 1.9% in the third quarter. Cozad Asset Management Inc. now owns 6,017 shares of the entertainment giant’s stock worth $579,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.
Insider Transactions at Walt Disney
In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the company’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 transaction, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This represents a 62.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were 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 directly owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is owned by insiders.
Walt Disney Stock Performance
Walt Disney (NYSE:DIS – Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. The firm had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts predict that The Walt Disney Company will post 5.41 EPS for the current year.
Walt Disney Increases Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be issued a $0.50 dividend. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, December 16th. Walt Disney’s payout ratio is currently 36.90%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Sanford C. Bernstein increased their price target on shares of Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Bank of America lifted their target price on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group began coverage on Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target on the stock. Guggenheim lifted their price objective on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Loop Capital upped their target price on shares of Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.54.
Read Our Latest Analysis on Walt Disney
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.
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