DAVENPORT & Co LLC Sells 1,773,499 Shares of The Walt Disney Company (NYSE:DIS)

DAVENPORT & Co LLC lessened its stake in shares of The Walt Disney Company (NYSE:DIS) by 90.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,557 shares of the entertainment giant’s stock after selling 1,773,499 shares during the period. DAVENPORT & Co LLC’s holdings in Walt Disney were worth $19,770,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Cedar Mountain Advisors LLC grew its holdings in Walt Disney by 38.1% during the fourth quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock worth $44,000 after purchasing an additional 110 shares during the period. Friedenthal Financial acquired a new stake in Walt Disney during the fourth quarter worth approximately $49,000. First PREMIER Bank increased its position in shares of Walt Disney by 98.1% in the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after purchasing an additional 256 shares during the period. Retirement Wealth Solutions LLC acquired a new position in shares of Walt Disney in the 4th quarter valued at approximately $50,000. Finally, FSA Wealth Management LLC bought a new stake in Walt Disney during the third quarter worth $51,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the 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. This represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction 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. This trade represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock valued at $44,153,263 over the last three months. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DIS shares. Wells Fargo & Company lifted their price target on shares of Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler initiated coverage on Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 target price on the stock. TD Cowen lifted their price objective on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research report on Friday, November 15th. 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. Finally, Rosenblatt Securities increased their price target on Walt Disney from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $125.52.

Walt Disney Stock Down 0.3 %

DIS opened at $113.04 on Monday. The company’s 50-day moving average price is $112.34 and its two-hundred day moving average price is $100.64. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The stock has a market cap of $204.43 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 2.02 and a beta of 1.43.

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%. Walt Disney’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts expect that The Walt Disney Company will post 5.41 earnings per share for the current year.

Walt Disney Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This is a boost 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 was Monday, December 16th. Walt Disney’s payout ratio is currently 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.