Wright Investors Service Inc. acquired a new stake in shares of Walt Disney Co (NYSE:DIS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,684 shares of the entertainment giant’s stock, valued at approximately $665,000.
A number of other large investors also recently added to or reduced their stakes in DIS. First American Trust FSB raised its position in shares of Walt Disney by 5.4% during the 2nd quarter. First American Trust FSB now owns 25,009 shares of the entertainment giant’s stock valued at $2,621,000 after buying an additional 1,280 shares in the last quarter. Community Bank & Trust Waco Texas raised its position in shares of Walt Disney by 48.2% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 6,736 shares of the entertainment giant’s stock valued at $706,000 after buying an additional 2,190 shares in the last quarter. IFM Investors Pty Ltd raised its position in Walt Disney by 44.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 68,087 shares of the entertainment giant’s stock worth $7,136,000 after purchasing an additional 20,977 shares during the period. Lynch & Associates IN raised its position in Walt Disney by 2.0% in the 2nd quarter. Lynch & Associates IN now owns 41,544 shares of the entertainment giant’s stock worth $4,354,000 after purchasing an additional 828 shares during the period. Finally, Founders Capital Management LLC raised its position in Walt Disney by 12.2% in the 2nd quarter. Founders Capital Management LLC now owns 87,813 shares of the entertainment giant’s stock worth $9,204,000 after purchasing an additional 9,519 shares during the period. Institutional investors and hedge funds own 62.64% of the company’s stock.
A number of brokerages recently commented on DIS. Zacks Investment Research upgraded shares of Walt Disney from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. Morgan Stanley lifted their target price on shares of Walt Disney from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, October 15th. ValuEngine upgraded shares of Walt Disney from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. B. Riley reiterated a “neutral” rating on shares of Walt Disney in a research report on Friday, November 9th. Finally, Barclays upgraded shares of Walt Disney from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $104.00 to $130.00 in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Walt Disney has an average rating of “Buy” and a consensus price target of $122.39.
Walt Disney (NYSE:DIS) last released its quarterly earnings data on Thursday, November 8th. The entertainment giant reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.17. Walt Disney had a net margin of 21.20% and a return on equity of 21.43%. The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $13.76 billion. During the same quarter in the previous year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Walt Disney Co will post 7.07 EPS for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 10th will be given a $0.88 dividend. This is a boost from Walt Disney’s previous semiannual dividend of $0.84. The ex-dividend date of this dividend is Friday, December 7th. This represents a dividend yield of 1.51%. Walt Disney’s payout ratio is presently 23.73%.
In other Walt Disney news, Chairman Robert A. Iger sold 47,733 shares of the business’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $120.00, for a total value of $5,727,960.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brent Woodford sold 961 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $117.06, for a total transaction of $112,494.66. Following the completion of the transaction, the executive vice president now owns 25,737 shares in the company, valued at approximately $3,012,773.22. The disclosure for this sale can be found here. Insiders sold 78,838 shares of company stock worth $9,391,319 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.
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About Walt Disney
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.
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