Truist Financial Corp Sells 178,504 Shares of The Walt Disney Company (NYSE:DIS)

Truist Financial Corp cut its stake in The Walt Disney Company (NYSE:DIS) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,221,767 shares of the entertainment giant’s stock after selling 178,504 shares during the quarter. Truist Financial Corp’s holdings in Walt Disney were worth $136,044,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Creative Planning lifted its position in shares of Walt Disney by 0.9% during the third quarter. Creative Planning now owns 655,712 shares of the entertainment giant’s stock worth $59,827,000 after purchasing an additional 5,972 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Walt Disney by 52.9% during the third quarter. Blue Trust Inc. now owns 19,004 shares of the entertainment giant’s stock worth $1,887,000 after purchasing an additional 6,573 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Walt Disney by 3.3% during the third quarter. First Citizens Bank & Trust Co. now owns 39,216 shares of the entertainment giant’s stock worth $3,772,000 after purchasing an additional 1,249 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Walt Disney by 20.3% during the third quarter. Revolve Wealth Partners LLC now owns 5,946 shares of the entertainment giant’s stock worth $572,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Cedrus LLC lifted its position in shares of Walt Disney by 1.8% during the third quarter. Cedrus LLC now owns 7,553 shares of the entertainment giant’s stock worth $727,000 after purchasing an additional 132 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Price Performance

Shares of NYSE DIS opened at $110.31 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.67 and a current ratio of 0.68. The company has a market cap of $199.42 billion, a PE ratio of 35.93, a P/E/G ratio of 1.95 and a beta of 1.42. The business has a 50-day simple moving average of $111.14 and a two-hundred day simple moving average of $101.90. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. As a group, equities analysts expect that The Walt Disney Company will post 5.43 EPS for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is currently 32.57%.

Insider Buying and Selling

In related news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 385,412 shares of company stock valued at $44,153,263 over the last quarter. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DIS. Citigroup reiterated a “buy” rating and set a $125.00 target price on shares of Walt Disney in a research report on Wednesday, January 22nd. Redburn Atlantic upgraded Walt Disney from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $147.00 in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price target on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Sanford C. Bernstein raised their price target on Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Guggenheim raised their price target on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Walt Disney has an average rating of “Moderate Buy” and an average target price of $125.85.

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.