Corundum Group Inc. Acquires 7,348 Shares of The Walt Disney Company (NYSE:DIS)

Corundum Group Inc. increased its holdings in shares of The Walt Disney Company (NYSE:DIS) by 117.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,601 shares of the entertainment giant’s stock after buying an additional 7,348 shares during the period. Corundum Group Inc.’s holdings in Walt Disney were worth $1,514,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new stake in Walt Disney during the 2nd quarter valued at $32,000. Friedenthal Financial purchased a new stake in shares of Walt Disney during the 4th quarter worth $49,000. First PREMIER Bank boosted its position in Walt Disney by 98.1% during the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after purchasing an additional 256 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Walt Disney in the fourth quarter valued at about $50,000. Finally, FSA Wealth Management LLC bought a new position in Walt Disney in the third quarter worth about $51,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Brent Woodford sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the transaction, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,054,870.70. This represents a 15.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert A. Iger sold 372,412 shares of the 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 transaction, the chief executive officer now owns 226,767 shares in the company, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,412 shares of company stock valued at $44,153,263. 0.10% of the stock is owned by company insiders.

Walt Disney Trading Up 0.6 %

Walt Disney stock opened at $107.07 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The firm has a market cap of $193.90 billion, a PE ratio of 39.51, a P/E/G ratio of 1.94 and a beta of 1.43. The stock’s 50 day simple moving average is $112.08 and its two-hundred day simple moving average is $99.69. The Walt Disney Company has a 12 month low of $83.91 and a 12 month high of $123.74.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The firm had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. 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. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is currently 36.90%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DIS. Loop Capital lifted their price objective on shares of Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company increased their price objective on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Macquarie restated a “neutral” rating and set a $110.00 target price on shares of Walt Disney in a research note on Monday, January 6th. Piper Sandler began coverage on Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target for the company. Finally, Evercore ISI boosted their price target on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.54.

About Walt Disney

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.