The Walt Disney Company (NYSE:DIS) Shares Sold by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. decreased its position in The Walt Disney Company (NYSE:DIS) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,661 shares of the entertainment giant’s stock after selling 670 shares during the period. Walt Disney accounts for approximately 2.1% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 11th largest position. Beech Hill Advisors Inc.’s holdings in Walt Disney were worth $5,530,000 at the end of the most recent quarter.

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

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Piper Sandler began coverage on shares of Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, November 15th. Guggenheim boosted their target price on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Bank of America raised their price target on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walt Disney presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.54.

Walt Disney Stock Performance

DIS traded down $0.37 during trading on Thursday, hitting $107.81. The stock had a trading volume of 468,836 shares, compared to its average volume of 6,048,814. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The firm has a market capitalization of $195.24 billion, a P/E ratio of 39.78, a PEG ratio of 1.94 and a beta of 1.43. 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 company’s 50-day moving average price is $111.58 and its 200 day moving average price is $99.51.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $22.49 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research 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 declared a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be issued a $0.50 dividend. This represents a dividend yield of 0.6%. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend is Monday, December 16th. Walt Disney’s payout ratio is 36.90%.

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.