Graypoint LLC Reduces Stock Position in The Walt Disney Company (NYSE:DIS)

Graypoint LLC lessened its stake in shares of The Walt Disney Company (NYSE:DIS) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,189 shares of the entertainment giant’s stock after selling 1,621 shares during the quarter. Graypoint LLC’s holdings in Walt Disney were worth $2,693,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DIS shares. Morgan Stanley lifted their price objective on shares of Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. TD Cowen lifted their price objective on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a report on Friday, November 15th. Loop Capital raised their price target on Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America upped their price objective on Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group began coverage on Walt Disney in a report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price for the company. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Walt Disney Stock Performance

Shares of NYSE DIS traded down $1.08 during midday trading on Friday, reaching $108.68. 8,499,901 shares of the company traded hands, compared to its average volume of 6,904,775. The stock has a 50-day moving average price of $110.85 and a 200 day moving average price of $99.40. The company has a market cap of $196.81 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 2.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74.

Walt Disney (NYSE:DIS) last announced its quarterly earnings data 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. The business had revenue of $22.57 billion during 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 company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Sell-side analysts anticipate 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 declared a semi-annual dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, December 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a yield of 0.6%. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total transaction of $568,100.00. Following the transaction, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert A. Iger sold 372,412 shares of the firm’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 sale, the chief executive officer now directly 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. In the last quarter, insiders have sold 385,412 shares of company stock worth $44,153,263. Company insiders own 0.10% of the company’s stock.

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.