The Walt Disney Company (NYSE:DIS) Position Reduced by Petix & Botte Co

Petix & Botte Co reduced its position in shares of The Walt Disney Company (NYSE:DIS) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,444 shares of the entertainment giant’s stock after selling 296 shares during the quarter. Petix & Botte Co’s holdings in Walt Disney were worth $495,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new position in Walt Disney during the second quarter worth about $32,000. Cedar Mountain Advisors LLC grew its stake in shares of Walt Disney by 38.1% in the 4th quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock worth $44,000 after purchasing an additional 110 shares during the last quarter. Friedenthal Financial acquired a new stake in Walt Disney during the fourth quarter valued at approximately $49,000. Retirement Wealth Solutions LLC bought a new stake in Walt Disney during the fourth quarter worth approximately $50,000. Finally, Birch Capital Management LLC acquired a new position in Walt Disney in the fourth quarter worth approximately $56,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Walt Disney Trading Up 1.1 %

Shares of NYSE:DIS opened at $112.25 on Monday. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The firm has a fifty day moving average price of $112.46 and a 200 day moving average price of $100.08. 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 stock has a market capitalization of $203.28 billion, a PE ratio of 41.42, a P/E/G ratio of 1.95 and a beta of 1.43.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The business had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 EPS. Analysts expect that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a dividend yield of 0.6%. This is a boost 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 payout ratio is presently 36.90%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DIS. TD Cowen raised their price objective on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. Piper Sandler began coverage on Walt Disney in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target for the company. Evercore ISI upped their price objective on shares of Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Citigroup reissued a “buy” rating and issued a $125.00 target price on shares of Walt Disney in a research report on Wednesday, January 22nd. Finally, Sanford C. Bernstein upped their price target on shares of Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.52.

Insider Buying and Selling

In other news, EVP Brent Woodford sold 8,000 shares of the 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 sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. This represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the transaction, the chief executive officer now directly 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 three months, insiders sold 385,412 shares of company stock valued at $44,153,263. Company insiders own 0.10% of the company’s stock.

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.