The Walt Disney Company (NYSE:DIS) Shares Sold by Community Bank N.A.

Community Bank N.A. cut its stake in The Walt Disney Company (NYSE:DIS) by 2.8% in the third quarter, HoldingsChannel reports. The fund owned 22,963 shares of the entertainment giant’s stock after selling 668 shares during the period. Community Bank N.A.’s holdings in Walt Disney were worth $2,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Benjamin Edwards Inc. increased its holdings in shares of Walt Disney by 139,052.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 29,222 shares of the entertainment giant’s stock valued at $2,811,000 after purchasing an additional 29,201 shares in the last quarter. Atom Investors LP purchased a new position in Walt Disney in the third quarter valued at $352,000. Kestra Investment Management LLC acquired a new position in shares of Walt Disney in the third quarter worth about $255,000. Alerus Financial NA purchased a new stake in shares of Walt Disney during the 3rd quarter worth about $3,002,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Walt Disney during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Performance

Walt Disney stock opened at $117.47 on Monday. The firm has a 50 day simple moving average of $100.46 and a 200-day simple moving average of $97.17. The stock has a market cap of $212.73 billion, a price-to-earnings ratio of 43.35, a price-to-earnings-growth ratio of 2.18 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DIS. Bank of America increased their price target on Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Guggenheim lifted their price target on shares of Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Sanford C. Bernstein boosted their target price on shares of Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Piper Sandler began coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Insider Activity at Walt Disney

In other news, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction 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 owns 44,055 shares of the company’s stock, valued at $5,005,529.10. This represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by 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.