Meritage Portfolio Management Decreases Stake in The Walt Disney Company (NYSE:DIS)

Meritage Portfolio Management lowered its position in The Walt Disney Company (NYSE:DIS) by 23.4% in the 4th quarter, HoldingsChannel reports. The fund owned 2,808 shares of the entertainment giant’s stock after selling 858 shares during the period. Meritage Portfolio Management’s holdings in Walt Disney were worth $313,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in DIS. Bay Harbor Wealth Management LLC bought a new position in Walt Disney in the 4th quarter worth about $35,000. Hager Investment Management Services LLC bought a new stake in Walt Disney in the 4th quarter worth approximately $43,000. Cedar Mountain Advisors LLC lifted its position in 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 buying an additional 110 shares during the last quarter. Friedenthal Financial bought a new stake in Walt Disney in the 4th quarter worth approximately $49,000. Finally, First PREMIER Bank increased its stake in Walt Disney by 98.1% in the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after purchasing an additional 256 shares during the period. Institutional investors 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 transaction of $42,667,242.84. Following the completion of the sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,005,529.10. This represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,412 shares of company stock valued at $44,153,263. Insiders own 0.16% of the company’s stock.

Walt Disney Stock Performance

Shares of DIS opened at $112.15 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 has a 50-day simple moving average of $112.11 and a two-hundred day simple moving average of $100.99. The stock has a market cap of $202.82 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 2.02 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 Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. On average, analysts expect that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio is presently 36.90%.

Analysts Set New Price Targets

A number of equities analysts have commented on DIS shares. Piper Sandler began coverage on Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target on the stock. Redburn Atlantic raised Walt Disney from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $147.00 in a research note on Tuesday, January 7th. TD Cowen upped their price target on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their target price on Walt Disney from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Walt Disney has a consensus rating of “Moderate Buy” and a consensus price target of $125.85.

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.