The Walt Disney Company (NYSE:DIS) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its position in The Walt Disney Company (NYSE:DIS) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,725 shares of the entertainment giant’s stock after selling 1,309 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Walt Disney were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Walt Disney by 0.6% during the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after purchasing an additional 490,681 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Walt Disney by 3.8% during the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after purchasing an additional 1,393,082 shares in the last quarter. FMR LLC lifted its stake in shares of Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after purchasing an additional 2,765,389 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock worth $2,137,637,000 after purchasing an additional 3,636,742 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Walt Disney by 3.4% during 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 worth $1,332,297,000 after purchasing an additional 454,678 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler assumed coverage on Walt Disney in a research note on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 target price on shares of Walt Disney in a research report on Wednesday, February 5th. TD Cowen lifted their target price on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research report on Friday, November 15th. Finally, Citigroup reaffirmed a “buy” rating and set a $125.00 target price on shares of Walt Disney in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.85.

Walt Disney Stock Performance

Shares of NYSE DIS opened at $109.25 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $111.56 and a 200-day simple moving average of $101.53. The company has a market cap of $197.50 billion, a PE ratio of 35.59, a P/E/G ratio of 1.95 and a beta of 1.42. The Walt Disney Company has a 12-month low of $83.91 and a 12-month high of $123.74.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. On average, equities research analysts forecast that The Walt Disney Company will post 5.43 EPS for the current year.

Walt Disney Increases Dividend

The firm also recently disclosed 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 was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. Walt Disney’s payout ratio is currently 32.57%.

Insider Transactions at Walt Disney

In other Walt Disney news, EVP Brent Woodford sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the sale, the executive vice president now directly owns 44,055 shares in the company, valued at $5,054,870.70. This represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,412 shares of company stock worth $44,153,263. Company insiders own 0.16% of the company’s stock.

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.