The Walt Disney Company (NYSE:DIS) Holdings Lifted by ValueAct Holdings L.P.

ValueAct Holdings L.P. grew its position in shares of The Walt Disney Company (NYSE:DIS) by 21.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,464,831 shares of the entertainment giant’s stock after purchasing an additional 1,331,200 shares during the quarter. Walt Disney accounts for 16.4% of ValueAct Holdings L.P.’s holdings, making the stock its 3rd largest holding. ValueAct Holdings L.P.’s holdings in Walt Disney were worth $718,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Farallon Capital Management LLC purchased a new stake in Walt Disney in the 2nd quarter worth approximately $355,673,000. International Assets Investment Management LLC boosted its holdings in shares of Walt Disney by 12,574.4% during the third quarter. International Assets Investment Management LLC now owns 3,426,393 shares of the entertainment giant’s stock worth $329,585,000 after purchasing an additional 3,399,359 shares during the last quarter. FMR LLC grew its position in shares of Walt Disney by 8.7% in the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after purchasing an additional 2,765,389 shares during the period. Van ECK Associates Corp increased its stake in Walt Disney by 114.4% in the third quarter. Van ECK Associates Corp now owns 4,307,794 shares of the entertainment giant’s stock valued at $414,582,000 after purchasing an additional 2,298,921 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Walt Disney by 112.0% during the third quarter. Janus Henderson Group PLC now owns 4,142,991 shares of the entertainment giant’s stock worth $398,508,000 after buying an additional 2,188,610 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insider Activity at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the firm’s 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 of the company’s stock, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total value of $568,100.00. Following the transaction, the executive vice president now 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. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

DIS has been the subject of several recent analyst reports. Macquarie lifted their price target on Walt Disney from $91.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Jefferies Financial Group began coverage on shares of Walt Disney in a report on Wednesday. They issued a “hold” rating and a $120.00 target price for the company. Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Loop Capital boosted their price objective on shares of Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Morgan Stanley increased their target price on shares of Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.67.

Walt Disney Stock Performance

Shares of DIS opened at $116.73 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $102.70 and its two-hundred day moving average is $97.69. The firm has a market cap of $211.39 billion, a price-to-earnings ratio of 43.07, a PEG ratio of 2.18 and a beta of 1.42. 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 released its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The company had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. Walt Disney’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. Analysts forecast that The Walt Disney Company will post 5.39 EPS for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. Walt Disney’s payout ratio is 33.21%.

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.