Walt Disney (NYSE:DIS) Sees Large Volume Increase on Better-Than-Expected Earnings

The Walt Disney Company (NYSE:DIS) saw an uptick in trading volume on Wednesday following a better than expected earnings announcement. 7,732,757 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 7,644,449 shares.The stock last traded at $111.54 and had previously closed at $113.30.

The entertainment giant reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%.

Walt Disney Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend 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 presently 36.90%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DIS shares. Deutsche Bank Aktiengesellschaft increased their price target on Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Loop Capital increased their price target on Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group started coverage on Walt Disney in a research note on Wednesday, December 4th. They issued a “hold” rating and a $120.00 price target for the company. TD Cowen increased their price target on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Finally, Macquarie reiterated a “neutral” rating and issued a $110.00 price target on shares of Walt Disney in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.85.

Insiders Place Their Bets

In other news, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total value of $568,100.00. Following the completion of the sale, the executive vice president now directly owns 44,055 shares in the company, valued at $5,005,529.10. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert A. Iger sold 372,412 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,412 shares of company stock worth $44,153,263. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Walt Disney

Several large investors have recently made changes to their positions in DIS. FPC Investment Advisory Inc. bought a new position in Walt Disney in the 4th quarter valued at about $28,000. Tacita Capital Inc lifted its position in Walt Disney by 93.2% in the 4th quarter. Tacita Capital Inc now owns 257 shares of the entertainment giant’s stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Walt Disney in the 4th quarter valued at about $34,000. Bay Harbor Wealth Management LLC bought a new position in Walt Disney in the 4th quarter valued at about $35,000. Finally, Vision Financial Markets LLC bought a new position in Walt Disney in the 4th quarter valued at about $39,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Walt Disney Stock Performance

The firm has a market cap of $202.82 billion, a P/E ratio of 41.38, a PEG ratio of 2.02 and a beta of 1.42. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is $112.11 and its two-hundred day moving average is $100.99.

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.