The Walt Disney Company (NYSE:DIS) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS) by 24.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,487,470 shares of the entertainment giant’s stock after selling 3,112,918 shares during the period. Franklin Resources Inc. owned 0.52% of Walt Disney worth $900,754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of DIS. William B. Walkup & Associates Inc. acquired a new stake in shares of Walt Disney during the second quarter worth $32,000. Mascoma Wealth Management LLC increased its holdings in shares of Walt Disney by 38.0% in the 2nd quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock worth $44,000 after acquiring an additional 122 shares during the period. First PREMIER Bank increased its holdings in shares of Walt Disney by 98.1% in the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after acquiring an additional 256 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Walt Disney in the 3rd quarter worth about $51,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Walt Disney by 148.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 557 shares of the entertainment giant’s stock worth $55,000 after acquiring an additional 333 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Price Performance

NYSE DIS opened at $114.90 on Friday. The firm has a market capitalization of $208.08 billion, a price-to-earnings ratio of 42.40, a price-to-earnings-growth ratio of 2.05 and a beta of 1.42. The company has a 50 day simple moving average of $104.32 and a 200-day simple moving average of $98.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The Walt Disney Company has a 52-week low of $83.91 and a 52-week high of $123.74.

Walt Disney (NYSE:DIS) last issued 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 firm had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. Equities research analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently declared 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 a positive change from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend is Monday, December 16th. This represents a dividend yield of 0.6%. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Insider Activity

In other news, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brent Woodford sold 8,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the sale, the executive vice president now owns 44,055 shares in the company, valued at $5,054,870.70. This represents a 15.37 % decrease in their position. 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 90 days. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DIS has been the topic of a number of analyst reports. Macquarie increased their price objective on shares of Walt Disney from $91.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. TD Cowen raised their target price on shares of Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Piper Sandler assumed coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Raymond James reissued a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Finally, Jefferies Financial Group assumed coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 target price on the stock. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.67.

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.