Walt Disney (NYSE:DIS) Sees Strong Trading Volume on Earnings Beat

Shares of The Walt Disney Company (NYSE:DIS) saw strong trading volume on Wednesday following a better than expected earnings announcement. 7,732,757 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 7,644,449 shares.The stock last traded at $111.54 and had previously closed at $113.30.

The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%.

Walt Disney Increases Dividend

The company also recently announced 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 dividend yield of 0.6%. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. Walt Disney’s dividend payout ratio is currently 36.90%.

Analyst Ratings Changes

A number of research firms recently weighed in on DIS. Needham & Company LLC upped their price objective on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley increased 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. Loop Capital boosted their price objective on shares of Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Piper Sandler initiated coverage on Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Finally, TD Cowen boosted their price target on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research report on Friday, November 15th. Six 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 stock. Based on data from MarketBeat, Walt Disney has a consensus rating of “Moderate Buy” and an average target price of $125.65.

Insider Buying and Selling at Walt Disney

In other news, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were 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. This represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the completion of the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,412 shares of company stock valued at $44,153,263. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Walt Disney

Hedge funds have recently bought and sold shares of the business. Concurrent Investment Advisors LLC boosted its stake in Walt Disney by 8.4% during the third quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock worth $6,420,000 after buying an additional 5,184 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Walt Disney by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock valued at $1,001,454,000 after acquiring an additional 114,701 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Walt Disney by 10.5% in the fourth quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock valued at $15,687,000 after purchasing an additional 13,339 shares during the period. Summit Global Investments raised its stake in Walt Disney by 476.0% during the third quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock worth $1,191,000 after purchasing an additional 10,230 shares during the period. Finally, Avanza Fonder AB acquired a new position in Walt Disney in the 4th quarter valued at about $15,125,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Stock Performance

The firm’s 50 day moving average price is $112.26 and its two-hundred day moving average price is $100.89. The firm has a market cap of $201.94 billion, a PE ratio of 41.16, a PEG ratio of 2.02 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73.

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.