The Walt Disney Company (NYSE:DIS) Shares Sold by Sterneck Capital Management LLC

Sterneck Capital Management LLC cut its stake in shares of The Walt Disney Company (NYSE:DIS) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,386 shares of the entertainment giant’s stock after selling 1,759 shares during the period. Walt Disney makes up 1.6% of Sterneck Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Sterneck Capital Management LLC’s holdings in Walt Disney were worth $3,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DIS. Smithfield Trust Co grew its holdings in shares of Walt Disney by 0.5% in the 3rd quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock worth $1,809,000 after acquiring an additional 102 shares during the last quarter. Drucker Wealth 3.0 LLC boosted its position in shares of Walt Disney by 0.9% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock valued at $1,121,000 after purchasing an additional 106 shares during the period. Connable Office Inc. boosted its position in shares of 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 purchasing an additional 108 shares during the period. Cozad Asset Management Inc. increased its stake in Walt Disney by 1.9% in the 3rd quarter. Cozad Asset Management Inc. now owns 6,017 shares of the entertainment giant’s stock worth $579,000 after purchasing an additional 110 shares in the last quarter. Finally, Absher Wealth Management LLC raised its holdings in Walt Disney by 0.8% during the 3rd quarter. Absher Wealth Management LLC now owns 14,141 shares of the entertainment giant’s stock worth $1,360,000 after buying an additional 111 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total value of $42,667,242.84. Following the sale, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 385,412 shares of company stock worth $44,153,263 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on DIS. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $147.00 in a report on Tuesday. Needham & Company LLC raised their price objective on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Loop Capital boosted their target price on shares of Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley lifted their price target on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler began coverage on Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Five 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 company’s stock. According to data from MarketBeat.com, Walt Disney has an average rating of “Moderate Buy” and an average price target of $125.54.

Walt Disney Stock Performance

Shares of NYSE:DIS opened at $111.39 on Wednesday. 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 capitalization of $201.72 billion, a P/E ratio of 41.10, a P/E/G ratio of 2.05 and a beta of 1.43. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $110.29 and a two-hundred day moving average price of $99.28.

Walt Disney (NYSE:DIS) last posted 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. 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 analysts’ expectations of $22.49 billion. During the same period in the previous year, the firm posted $0.82 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current year.

Walt Disney Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date is Monday, December 16th. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio (DPR) is presently 36.90%.

Walt Disney 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.