Logan Capital Management Inc. Sells 2,579 Shares of The Walt Disney Company (NYSE:DIS)

Logan Capital Management Inc. trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,346 shares of the entertainment giant’s stock after selling 2,579 shares during the period. Logan Capital Management Inc.’s holdings in Walt Disney were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Brookstone Capital Management grew its position in Walt Disney by 13.8% in the second quarter. Brookstone Capital Management now owns 115,680 shares of the entertainment giant’s stock valued at $11,257,000 after acquiring an additional 14,000 shares during the last quarter. Gradient Investments LLC lifted its stake in Walt Disney by 18.5% in the 2nd quarter. Gradient Investments LLC now owns 4,601 shares of the entertainment giant’s stock valued at $457,000 after purchasing an additional 717 shares during the last quarter. OFI Invest Asset Management boosted its position in Walt Disney by 2,209.0% in the second quarter. OFI Invest Asset Management now owns 8,497 shares of the entertainment giant’s stock valued at $787,000 after buying an additional 8,129 shares in the last quarter. ARS Wealth Advisors Group LLC grew its stake in shares of Walt Disney by 2.5% during the second quarter. ARS Wealth Advisors Group LLC now owns 7,178 shares of the entertainment giant’s stock worth $713,000 after buying an additional 175 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its stake in shares of Walt Disney by 1.2% during the second quarter. Boomfish Wealth Group LLC now owns 13,073 shares of the entertainment giant’s stock worth $1,298,000 after buying an additional 154 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Trading Down 1.4 %

Shares of Walt Disney stock opened at $113.32 on Friday. The stock has a market capitalization of $205.22 billion, a P/E ratio of 41.82, a P/E/G ratio of 2.05 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. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The stock’s 50-day simple moving average is $104.68 and its 200 day simple moving average is $98.14.

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. The company 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 quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, research analysts anticipate that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a dividend yield of 0.6%. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio is currently 36.90%.

Analysts Set New Price Targets

Several research firms recently weighed in on DIS. Bank of America raised their price objective on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a report on Friday, November 15th. Piper Sandler initiated coverage on Walt Disney in a research note on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price target on the stock. Guggenheim raised their price objective on shares of Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company lifted their price target on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Macquarie lifted their price objective on Walt Disney from $91.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.67.

Insider Transactions at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total transaction 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 represents a 62.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were 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 in the company, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 385,412 shares of company stock valued at $44,153,263 over the last three months. 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.