Ledyard National Bank Cuts Stake in The Walt Disney Company (NYSE:DIS)

Ledyard National Bank lessened its holdings in The Walt Disney Company (NYSE:DIS) by 3.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,114 shares of the entertainment giant’s stock after selling 186 shares during the quarter. Ledyard National Bank’s holdings in Walt Disney were worth $681,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Walt Disney by 0.6% in the 3rd quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock valued at $7,463,978,000 after acquiring an additional 490,681 shares during the last quarter. Geode Capital Management LLC increased its stake in Walt Disney by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after purchasing an additional 1,393,082 shares during the period. FMR LLC lifted its position 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 during the last quarter. Jennison Associates LLC boosted its stake in shares of Walt Disney by 23.4% during 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $1,332,297,000 after purchasing an additional 454,678 shares during the last quarter. 65.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction that occurred on Friday, November 22nd. The shares were 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 owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at $5,054,870.70. The trade was a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,412 shares of company stock valued at $44,153,263. Corporate insiders own 0.16% of the company’s stock.

Walt Disney Price Performance

DIS opened at $112.15 on Friday. The firm has a market cap of $202.82 billion, a PE ratio of 41.38, a P/E/G ratio of 2.02 and a beta of 1.42. The stock has a 50-day moving average price of $112.11 and a 200-day moving average price of $100.99. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67.

Walt Disney (NYSE:DIS) last issued its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, topping 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%. Sell-side 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 announced a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a yield of 0.6%. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend was Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DIS shares. Prescient Securities lowered their price target on shares of Walt Disney from $130.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday. Macquarie reiterated a “neutral” rating and set a $110.00 target price on shares of Walt Disney in a report on Monday, January 6th. The Goldman Sachs Group boosted their price target on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler assumed coverage on Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Finally, Evercore ISI boosted their target price on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. 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. Based on data from MarketBeat.com, Walt Disney currently has an average rating of “Moderate Buy” and a consensus target price of $125.85.

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.