Plimoth Trust Co. LLC Has $2.63 Million Stake in The Walt Disney Company (NYSE:DIS)

Plimoth Trust Co. LLC trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 23,642 shares of the entertainment giant’s stock after selling 569 shares during the period. Plimoth Trust Co. LLC’s holdings in Walt Disney were worth $2,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Farmers Trust Co. grew its stake in Walt Disney by 1.1% in the fourth quarter. Farmers Trust Co. now owns 8,483 shares of the entertainment giant’s stock valued at $945,000 after acquiring an additional 92 shares during the period. Saxon Interests Inc. grew its stake in Walt Disney by 2.8% in the fourth quarter. Saxon Interests Inc. now owns 3,412 shares of the entertainment giant’s stock valued at $380,000 after acquiring an additional 93 shares during the period. Smithfield Trust Co grew its stake in Walt Disney by 0.5% in the third quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock valued at $1,809,000 after acquiring an additional 102 shares during the period. Drucker Wealth 3.0 LLC boosted its position in shares of Walt Disney by 0.9% during the third quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock worth $1,121,000 after buying an additional 106 shares during the period. Finally, Connable Office Inc. boosted its position in shares of Walt Disney by 0.3% during the third quarter. Connable Office Inc. now owns 35,048 shares of the entertainment giant’s stock worth $3,371,000 after buying an additional 108 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly 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 at this link. Also, EVP Brent Woodford sold 5,000 shares of the 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 of the company’s stock, valued at approximately $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,412 shares of company stock valued at $44,153,263. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DIS shares. TD Cowen upped 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. Piper Sandler assumed coverage on Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective for the company. Citigroup restated a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a research note on Wednesday, January 22nd. Bank of America increased their target price on Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Guggenheim raised their target price on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.52.

Walt Disney Price Performance

Shares of Walt Disney stock traded up $1.24 during trading on Wednesday, hitting $113.38. The stock had a trading volume of 923,790 shares, compared to its average volume of 6,996,185. The Walt Disney Company has a 12 month low of $83.91 and a 12 month high of $123.74. The business’s 50-day moving average is $112.45 and its 200 day moving average is $100.33. The firm has a market cap of $205.33 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 1.95 and a beta of 1.43. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37.

Walt Disney (NYSE:DIS) last posted 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 net margin of 5.44% and a return on equity of 9.21%. The business had revenue of $22.57 billion during the quarter, compared to analyst estimates of $22.49 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current year.

Walt Disney Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a yield of 0.6%. This is a positive change 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 is presently 36.90%.

Walt Disney 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.