Benin Management CORP Cuts Stake in The Walt Disney Company (NYSE:DIS)

Benin Management CORP reduced its position in The Walt Disney Company (NYSE:DIS) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,970 shares of the entertainment giant’s stock after selling 500 shares during the period. Walt Disney accounts for 0.8% of Benin Management CORP’s portfolio, making the stock its 19th biggest position. Benin Management CORP’s holdings in Walt Disney were worth $2,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC lifted its stake in shares of Walt Disney by 8.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock worth $6,420,000 after purchasing an additional 5,184 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Walt Disney by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock valued at $1,001,454,000 after buying an additional 114,701 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Walt Disney by 10.5% in the 4th quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock valued at $15,687,000 after buying an additional 13,339 shares in the last quarter. Summit Global Investments grew its position in shares of Walt Disney by 476.0% in the 3rd quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock worth $1,191,000 after buying an additional 10,230 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in shares of Walt Disney during the 4th quarter worth approximately $15,125,000. 65.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DIS. Piper Sandler started coverage on shares of Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target on the stock. 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 research note on Friday, November 15th. Guggenheim raised their price target on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley upped their price objective on shares of Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company lifted their target price on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.52.

Walt Disney Trading Up 1.1 %

Shares of Walt Disney stock opened at $112.25 on Friday. The firm has a 50-day simple moving average of $112.52 and a two-hundred day simple moving average of $99.98. 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 Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74. The company has a market cap of $203.28 billion, a P/E ratio of 41.42, a price-to-earnings-growth ratio of 1.95 and a beta of 1.43.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (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 revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, equities analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This is a boost 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 currently 36.90%.

Insider Activity

In other news, 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 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. The trade was a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock worth $44,153,263 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

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.