Bangor Savings Bank Trims Holdings in The Walt Disney Company (NYSE:DIS)

Bangor Savings Bank reduced its stake in The Walt Disney Company (NYSE:DIS) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,629 shares of the entertainment giant’s stock after selling 584 shares during the quarter. Bangor Savings Bank’s holdings in Walt Disney were worth $1,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canandaigua National Trust Co of Florida grew its holdings in shares of Walt Disney by 46.1% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 3,726 shares of the entertainment giant’s stock valued at $415,000 after purchasing an additional 1,176 shares during the period. Iowa State Bank grew its stake in shares of Walt Disney by 1.5% in the 4th quarter. Iowa State Bank now owns 24,320 shares of the entertainment giant’s stock valued at $2,708,000 after buying an additional 368 shares during the period. Nordea Investment Management AB raised its position in shares of Walt Disney by 21.5% during the 4th quarter. Nordea Investment Management AB now owns 1,693,316 shares of the entertainment giant’s stock valued at $188,195,000 after buying an additional 299,604 shares during the period. Central Pacific Bank Trust Division raised its position in shares of Walt Disney by 8.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 19,447 shares of the entertainment giant’s stock valued at $2,165,000 after buying an additional 1,517 shares during the period. Finally, Everence Capital Management Inc. lifted its holdings in Walt Disney by 5.3% in the fourth quarter. Everence Capital Management Inc. now owns 48,339 shares of the entertainment giant’s stock valued at $5,383,000 after acquiring an additional 2,440 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Stock Down 0.2 %

Shares of NYSE DIS opened at $110.90 on Tuesday. The business has a 50-day moving average of $109.99 and a two-hundred day moving average of $99.21. The company has a market capitalization of $200.83 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 2.05 and a beta of 1.43. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67.

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

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, December 16th will be given a $0.50 dividend. This represents a dividend yield of 0.6%. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date is Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is 36.90%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Evercore ISI upped their price target on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Jefferies Financial Group assumed coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 target price for the company. Piper Sandler started coverage on shares of Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Loop Capital boosted their target price on Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.58.

Insider Buying and Selling

In related news, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total value of $568,100.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,005,529.10. This trade represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,412 shares of company stock worth $44,153,263 in the last ninety days. 0.10% of the stock is owned by corporate insiders.

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.