The Walt Disney Company (NYSE:DIS) is Covea Finance’s 7th Largest Position

Covea Finance lowered its stake in The Walt Disney Company (NYSE:DIS) by 5.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 535,876 shares of the entertainment giant’s stock after selling 30,140 shares during the quarter. Walt Disney makes up about 2.7% of Covea Finance’s holdings, making the stock its 7th biggest position. Covea Finance’s holdings in Walt Disney were worth $59,670,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Farallon Capital Management LLC purchased a new stake in shares of Walt Disney in the second quarter valued at $355,673,000. International Assets Investment Management LLC lifted its holdings in Walt Disney by 12,574.4% in the 3rd quarter. International Assets Investment Management LLC now owns 3,426,393 shares of the entertainment giant’s stock valued at $329,585,000 after purchasing an additional 3,399,359 shares in the last quarter. FMR LLC boosted its stake in shares of Walt Disney by 8.7% during the 3rd quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after purchasing an additional 2,765,389 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Walt Disney by 114.4% during the third quarter. Van ECK Associates Corp now owns 4,307,794 shares of the entertainment giant’s stock worth $414,582,000 after buying an additional 2,298,921 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Walt Disney by 112.0% in the third quarter. Janus Henderson Group PLC now owns 4,142,991 shares of the entertainment giant’s stock valued at $398,508,000 after buying an additional 2,188,610 shares during the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insider Activity

In other Walt Disney news, EVP Brent Woodford sold 8,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at $5,054,870.70. This represents a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction dated 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 $25,980,695.19. The trade was a 62.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is currently owned by insiders.

Walt Disney Trading Down 0.0 %

DIS opened at $108.03 on Wednesday. The firm has a market capitalization of $195.64 billion, a P/E ratio of 39.86, a P/E/G ratio of 2.03 and a beta of 1.43. The firm’s 50 day moving average is $111.58 and its 200-day moving average is $99.51. 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 52-week low of $83.91 and a 52-week high of $123.74.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The firm had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be given a $0.50 dividend. This represents a dividend yield of 0.6%. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date is Monday, December 16th. Walt Disney’s dividend payout ratio is presently 36.90%.

Analyst Upgrades and Downgrades

DIS has been the topic of a number of analyst reports. Needham & Company LLC raised their target price on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley raised their price objective on Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Guggenheim upped their target price on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company raised their price target on Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities upped their price objective on shares of Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.54.

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.