The Walt Disney Company (NYSE:DIS) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC reduced its stake in shares of The Walt Disney Company (NYSE:DIS) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 554,191 shares of the entertainment giant’s stock after selling 67,335 shares during the period. Walt Disney comprises approximately 2.1% of Cohen Klingenstein LLC’s portfolio, making the stock its 10th biggest position. Cohen Klingenstein LLC’s holdings in Walt Disney were worth $61,709,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DIS. William B. Walkup & Associates Inc. bought a new position in Walt Disney during the second quarter valued at about $32,000. Friedenthal Financial purchased a new position in Walt Disney in the 4th quarter valued at approximately $49,000. First PREMIER Bank raised its holdings in Walt Disney by 98.1% during the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after acquiring an additional 256 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Walt Disney in the fourth quarter worth $50,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Walt Disney in the third quarter valued at $51,000. Institutional investors own 65.71% of the company’s stock.

Analysts Set New Price Targets

DIS has been the subject of a number of research analyst reports. Sanford C. Bernstein lifted their price target on Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. TD Cowen upped their target price on shares of Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Guggenheim raised their price target on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Piper Sandler started coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective for the company. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Walt Disney presently has a consensus rating of “Moderate Buy” and an average price target of $125.54.

Insiders Place Their Bets

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value 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. This trade represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brent Woodford sold 8,000 shares of the business’s 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 sale, the executive vice president now directly owns 44,055 shares in the company, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,412 shares of company stock worth $44,153,263 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Walt Disney Price Performance

DIS stock opened at $107.07 on Friday. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. The firm has a market capitalization of $193.90 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43. The company has a fifty day simple moving average of $111.92 and a two-hundred day simple moving average of $99.62. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.05. The company had revenue of $22.57 billion for 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 firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. Analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

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

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.