Canandaigua National Bank & Trust Co. Sells 1,535 Shares of The Walt Disney Company (NYSE:DIS)

Canandaigua National Bank & Trust Co. trimmed its position in shares of The Walt Disney Company (NYSE:DIS) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 30,564 shares of the entertainment giant’s stock after selling 1,535 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Walt Disney were worth $3,403,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DIS. Smithfield Trust Co lifted its holdings in Walt Disney by 0.5% in the third quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock valued at $1,809,000 after acquiring an additional 102 shares during the period. Drucker Wealth 3.0 LLC increased its stake in Walt Disney by 0.9% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock worth $1,121,000 after buying an additional 106 shares in the last quarter. Connable Office Inc. grew its position in shares of Walt Disney by 0.3% during the third quarter. Connable Office Inc. now owns 35,048 shares of the entertainment giant’s stock worth $3,371,000 after purchasing an additional 108 shares in the last quarter. Cozad Asset Management Inc. lifted its holdings in Walt Disney by 1.9% in the 3rd quarter. Cozad Asset Management Inc. now owns 6,017 shares of the entertainment giant’s stock worth $579,000 after purchasing an additional 110 shares in the last quarter. Finally, Absher Wealth Management LLC increased its holdings in Walt Disney by 0.8% in the 3rd quarter. Absher Wealth Management LLC now owns 14,141 shares of the entertainment giant’s stock valued at $1,360,000 after acquiring an additional 111 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Walt Disney

In other Walt Disney news, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total transaction of $568,100.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,412 shares of company stock worth $44,153,263 in the last quarter. Company insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

DIS traded down $0.26 on Monday, reaching $110.90. The company had a trading volume of 6,181,730 shares, compared to its average volume of 5,252,820. 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 Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The stock has a market capitalization of $200.83 billion, a PE ratio of 40.92, a P/E/G ratio of 2.05 and a beta of 1.43. The stock has a 50-day moving average price of $109.69 and a 200-day moving average price of $99.15.

Walt Disney (NYSE:DIS) last announced its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The firm 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 business’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. As a group, 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 declared a semi-annual dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a dividend yield of 0.6%. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Analyst Upgrades and Downgrades

DIS has been the subject of a number of recent research reports. Piper Sandler began coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Morgan Stanley raised their price objective on shares of Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group began coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They issued a “hold” rating and a $120.00 price target on the stock. Bank of America raised their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company raised their price objective on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.58.

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.