Mediolanum International Funds Ltd Lowers Stock Holdings in The Walt Disney Company (NYSE:DIS)

Mediolanum International Funds Ltd decreased its position in shares of The Walt Disney Company (NYSE:DIS) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 280,663 shares of the entertainment giant’s stock after selling 10,938 shares during the period. Mediolanum International Funds Ltd’s holdings in Walt Disney were worth $31,021,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Walt Disney by 0.6% during the third 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 in the last quarter. Geode Capital Management LLC raised its position in Walt Disney by 3.8% during the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock valued at $3,609,833,000 after purchasing an additional 1,393,082 shares in the last quarter. FMR LLC raised its position in Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after purchasing an additional 2,765,389 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Walt Disney by 3.4% during the third 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 valued at $1,332,297,000 after purchasing an additional 454,678 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 114,701 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC raised their price objective on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Piper Sandler assumed coverage on Walt Disney in a research note on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective on the stock. Loop Capital raised their price objective on Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley raised their price objective on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Sanford C. Bernstein raised their price objective on Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $125.52.

Walt Disney Stock Performance

Shares of DIS opened at $113.30 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’s 50 day moving average price is $112.43 and its 200-day moving average price is $100.44. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. The stock has a market cap of $205.18 billion, a P/E ratio of 41.81, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. During the same period in the previous year, the firm posted $0.82 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research 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 given a $0.50 dividend. 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 36.90%.

Insider Activity at Walt Disney

In related news, EVP Brent Woodford sold 5,000 shares of the company’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 transaction, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,412 shares of company stock valued at $44,153,263. 0.10% of the stock is owned by corporate insiders.

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.