Triangle Securities Wealth Management Decreases Stock Holdings in The Walt Disney Company (NYSE:DIS)

Triangle Securities Wealth Management cut its stake in The Walt Disney Company (NYSE:DIS) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,093 shares of the entertainment giant’s stock after selling 419 shares during the quarter. Triangle Securities Wealth Management’s holdings in Walt Disney were worth $1,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Farallon Capital Management LLC purchased a new stake in shares of Walt Disney in the 2nd quarter worth about $355,673,000. International Assets Investment Management LLC lifted its stake in Walt Disney by 12,574.4% in the 3rd quarter. International Assets Investment Management LLC now owns 3,426,393 shares of the entertainment giant’s stock valued at $329,585,000 after buying an additional 3,399,359 shares in the last quarter. FMR LLC grew its holdings in Walt Disney by 8.7% during the 3rd quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after buying an additional 2,765,389 shares during the last quarter. Van ECK Associates Corp increased its position in Walt Disney by 114.4% during the third quarter. Van ECK Associates Corp now owns 4,307,794 shares of the entertainment giant’s stock worth $414,582,000 after buying an additional 2,298,921 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Walt Disney by 112.0% in the third quarter. Janus Henderson Group PLC now owns 4,142,991 shares of the entertainment giant’s stock worth $398,508,000 after acquiring an additional 2,188,610 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DIS has been the subject of a number of recent research reports. Macquarie reiterated a “neutral” rating and set a $110.00 price objective on shares of Walt Disney in a research report on Monday, January 6th. Jefferies Financial Group assumed coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price for the company. TD Cowen upped their target price on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Loop Capital raised their price target on Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Piper Sandler started coverage on shares of Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price target for the company. Five 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Insider Activity

In other Walt Disney news, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the sale, the chief executive officer now directly owns 226,767 shares in the company, 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. In the last 90 days, insiders have sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is currently owned by corporate insiders.

Walt Disney Stock Up 0.6 %

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

Walt Disney (NYSE:DIS) last announced its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company had revenue of $22.57 billion during the quarter, compared to the consensus estimate of $22.49 billion. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

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

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.