Retirement Systems of Alabama Purchases 2,338 Shares of The Walt Disney Company (NYSE:DIS)

Retirement Systems of Alabama raised its stake in The Walt Disney Company (NYSE:DIS) by 0.6% in the fourth quarter, Holdings Channel reports. The firm owned 392,087 shares of the entertainment giant’s stock after acquiring an additional 2,338 shares during the quarter. Retirement Systems of Alabama’s holdings in Walt Disney were worth $43,659,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its stake in Walt Disney by 0.6% in the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock valued at $7,463,978,000 after purchasing an additional 490,681 shares in the last quarter. Geode Capital Management LLC grew its stake in Walt Disney by 3.8% in the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock valued at $3,609,833,000 after purchasing an additional 1,393,082 shares in the last quarter. FMR LLC grew its stake in Walt Disney by 8.7% in the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after purchasing an additional 2,765,389 shares in the last quarter. Jennison Associates LLC grew its stake in Walt Disney by 23.4% in the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock valued at $2,137,637,000 after purchasing an additional 3,636,742 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Walt Disney by 3.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,850,678 shares of the entertainment giant’s stock valued at $1,332,297,000 after purchasing an additional 454,678 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler initiated coverage on Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target for the company. Needham & Company LLC raised their price objective on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Redburn Atlantic raised Walt Disney from a “neutral” rating to a “buy” rating and raised their price objective for the company from $100.00 to $147.00 in a research report on Tuesday, January 7th. Citigroup reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a research report on Wednesday, January 22nd. Finally, Bank of America raised their price objective on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $125.65.

Insider Activity

In related news, CEO Robert A. Iger sold 372,412 shares of the business’s 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 owns 226,767 shares in the company, valued at $25,980,695.19. The trade was a 62.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the business’s 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 sale, the executive vice president now owns 44,055 shares in the company, valued at $5,005,529.10. This represents a 10.19 % decrease in their position. 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. Insiders own 0.16% of the company’s stock.

Walt Disney Price Performance

Shares of NYSE DIS opened at $113.35 on Wednesday. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74. The business has a fifty day moving average price of $112.30 and a two-hundred day moving average price of $100.77. 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 stock has a market capitalization of $205.00 billion, a PE ratio of 41.83, a P/E/G ratio of 2.02 and a beta of 1.42.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $22.49 billion. During the same quarter last year, the company posted $0.82 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that The Walt Disney Company will post 5.41 earnings per share 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. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. This represents a dividend yield of 0.6%. Walt Disney’s dividend payout ratio (DPR) is presently 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.