Savoie Capital LLC Sells 6,300 Shares of The Walt Disney Company (NYSE:DIS)

Savoie Capital LLC reduced its position in shares of The Walt Disney Company (NYSE:DIS) by 11.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,491 shares of the entertainment giant’s stock after selling 6,300 shares during the quarter. Savoie Capital LLC’s holdings in Walt Disney were worth $4,568,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Walt Disney by 0.6% in the 3rd quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock valued at $7,463,978,000 after purchasing an additional 490,681 shares during the last quarter. FMR LLC raised its stake in Walt Disney by 8.7% in the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after buying an additional 2,765,389 shares during the period. Bank of New York Mellon Corp raised its stake in Walt Disney by 10.8% in the second quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock valued at $1,477,831,000 after buying an additional 1,449,730 shares during the period. Legal & General Group Plc lifted its position in shares of Walt Disney by 3.1% in the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock valued at $1,417,958,000 after buying an additional 425,438 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Walt Disney by 3.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,850,678 shares of the entertainment giant’s stock worth $1,332,297,000 after acquiring an additional 454,678 shares during the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insider Transactions at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction 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 completion of the transaction, the chief executive officer now owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brent Woodford sold 5,000 shares of the business’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. The trade was a 10.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Walt Disney Price Performance

Shares of DIS stock opened at $114.64 on Tuesday. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. 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 fifty day simple moving average of $103.07 and a 200 day simple moving average of $97.73. The company has a market cap of $207.61 billion, a P/E ratio of 42.30, a P/E/G ratio of 2.09 and a beta of 1.42.

Walt Disney (NYSE:DIS) last announced 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 firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. On average, sell-side 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 announced a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is presently 36.90%.

Analyst Upgrades and Downgrades

DIS has been the subject of a number of research analyst reports. Piper Sandler assumed coverage on shares of Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective for the company. Sanford C. Bernstein increased their price target on shares of Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Macquarie increased their target price on Walt Disney from $91.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Finally, Evercore ISI increased their price objective on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Walt Disney has a consensus rating of “Moderate Buy” and an average price target of $123.67.

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.