Fragasso Financial Advisors Inc Reduces Stake in The Walt Disney Company (NYSE:DIS)

Fragasso Financial Advisors Inc reduced its position in The Walt Disney Company (NYSE:DIS) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 27,148 shares of the entertainment giant’s stock after selling 1,302 shares during the period. Fragasso Financial Advisors Inc’s holdings in Walt Disney were worth $3,023,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DIS. Thoroughbred Financial Services LLC grew its holdings in Walt Disney by 71.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,794 shares of the entertainment giant’s stock valued at $1,071,000 after buying an additional 4,502 shares during the last quarter. Lyell Wealth Management LP grew its holdings in Walt Disney by 1.3% during the 2nd quarter. Lyell Wealth Management LP now owns 45,484 shares of the entertainment giant’s stock valued at $4,516,000 after buying an additional 575 shares during the last quarter. Williams Financial LLC acquired a new stake in Walt Disney during the 2nd quarter valued at $1,109,000. Diversify Wealth Management LLC acquired a new stake in Walt Disney during the 2nd quarter valued at $2,254,000. Finally, Hanson & Doremus Investment Management boosted its holdings in shares of Walt Disney by 6.5% during the second quarter. Hanson & Doremus Investment Management now owns 48,656 shares of the entertainment giant’s stock worth $4,831,000 after purchasing an additional 2,982 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Down 1.0 %

Shares of NYSE DIS traded down $1.04 during midday trading on Monday, reaching $107.61. 2,738,981 shares of the company’s stock were exchanged, compared to its average volume of 6,356,598. The Walt Disney Company has a 52-week low of $83.91 and a 52-week high of $123.74. The stock has a market capitalization of $194.88 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The business’s fifty day moving average price is $111.11 and its two-hundred day moving average price is $99.43.

Walt Disney (NYSE:DIS) last announced its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The business had revenue of $22.57 billion for 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 for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. Analysts forecast that The Walt Disney Company will post 5.41 EPS 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. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 16th. Walt Disney’s payout ratio is currently 36.90%.

Insider Activity at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the business’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. The trade was a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction that occurred 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 approximately $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,412 shares of company stock valued at $44,153,263 over the last three months. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

DIS has been the topic of several analyst reports. Redburn Atlantic upgraded Walt Disney from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $147.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Piper Sandler initiated coverage on Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective on the stock. Macquarie restated a “neutral” rating and set a $110.00 price objective on shares of Walt Disney in a report on Monday, January 6th. Finally, Evercore ISI lifted their target price on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a report on Monday, November 18th. 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 presently has an average rating of “Moderate Buy” and an average target price of $125.54.

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.