Essex Savings Bank Lowers Stake in The Walt Disney Company (NYSE:DIS)

Essex Savings Bank trimmed its position in The Walt Disney Company (NYSE:DIS) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,740 shares of the entertainment giant’s stock after selling 2,317 shares during the quarter. Essex Savings Bank’s holdings in Walt Disney were worth $1,085,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new position in Walt Disney in the second quarter valued at approximately $32,000. Friedenthal Financial acquired a new stake in shares of Walt Disney in the fourth quarter worth $49,000. First PREMIER Bank lifted its position in Walt Disney by 98.1% during 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 in the last quarter. FSA Wealth Management LLC purchased a new position in Walt Disney in the 3rd quarter worth approximately $51,000. Finally, Birch Capital Management LLC acquired a new stake in Walt Disney in the fourth quarter valued at approximately $56,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Evercore ISI raised their price objective on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Rosenblatt Securities raised their price target on shares of Walt Disney from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley boosted their price objective on shares of Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Walt Disney has an average rating of “Moderate Buy” and an average price target of $125.54.

Walt Disney Stock Performance

Shares of NYSE DIS opened at $108.12 on Thursday. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The firm has a market cap of $195.80 billion, a P/E ratio of 39.90, a PEG ratio of 2.03 and a beta of 1.43. The stock has a fifty day moving average price of $111.58 and a two-hundred day moving average price of $99.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73.

Walt Disney (NYSE:DIS) last announced its earnings results 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 business had revenue of $22.57 billion during the quarter, compared to analysts’ expectations of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 earnings per share. Research analysts forecast that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. The ex-dividend date 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 dividend payout ratio (DPR) is currently 36.90%.

Insider Activity

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 value of $42,667,242.84. Following the completion of the sale, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the transaction, the executive vice president now owns 44,055 shares in the company, 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 sold a total of 385,412 shares of company stock valued at $44,153,263 over the last three months. Insiders own 0.10% of the company’s stock.

Walt Disney Company 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.