Marotta Asset Management Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Marotta Asset Management cut its stake in shares of The Walt Disney Company (NYSE:DIS) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,598 shares of the entertainment giant’s stock after selling 149 shares during the period. Marotta Asset Management’s holdings in Walt Disney were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of DIS. State Street Corp boosted its position in shares of Walt Disney by 0.6% during 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 buying an additional 490,681 shares during the period. Geode Capital Management LLC raised 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 buying an additional 1,393,082 shares during the last quarter. FMR LLC boosted its holdings in Walt Disney by 8.7% in the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after acquiring an additional 2,765,389 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Walt Disney by 3.1% during the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock worth $1,417,958,000 after acquiring an additional 425,438 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Walt Disney by 3.4% during 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 acquiring an additional 454,678 shares in the last quarter. 65.71% of the stock is owned by institutional investors.

Walt Disney Price Performance

NYSE DIS traded down $1.74 during trading hours on Friday, reaching $108.02. The company’s stock had a trading volume of 1,976,446 shares, compared to its average volume of 5,713,135. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74. The stock has a market cap of $195.62 billion, a PE ratio of 39.86, a PEG ratio of 2.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The company’s 50-day moving average is $110.85 and its two-hundred day moving average is $99.40.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The firm had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. Walt Disney’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. Analysts forecast that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be given a $0.50 dividend. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date is Monday, December 16th. This represents a dividend yield of 0.6%. Walt Disney’s dividend payout ratio is presently 36.90%.

Wall Street Analyst Weigh In

DIS has been the topic of several research analyst reports. Piper Sandler started coverage on shares of Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Evercore ISI increased their price target on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Rosenblatt Securities increased their price objective on Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, December 16th. TD Cowen upped their target price on shares of Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a report on Friday, November 15th. Finally, Needham & Company LLC boosted their price target on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Insider Buying and Selling

In other news, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,054,870.70. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 385,412 shares of company stock valued at $44,153,263. Corporate insiders own 0.10% of the company’s stock.

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.