Carnegie Investment Counsel Sells 961 Shares of The Walt Disney Company (NYSE:DIS)

Carnegie Investment Counsel lessened its holdings in The Walt Disney Company (NYSE:DIS) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,334 shares of the entertainment giant’s stock after selling 961 shares during the period. Carnegie Investment Counsel’s holdings in Walt Disney were worth $1,373,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. raised its stake in Walt Disney by 67.3% in the second quarter. Edgestream Partners L.P. now owns 6,486 shares of the entertainment giant’s stock valued at $644,000 after buying an additional 2,610 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Walt Disney by 53.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,095,269 shares of the entertainment giant’s stock valued at $108,749,000 after buying an additional 383,148 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Walt Disney by 4.7% in the second quarter. Pacer Advisors Inc. now owns 129,687 shares of the entertainment giant’s stock valued at $12,877,000 after purchasing an additional 5,772 shares during the period. Sei Investments Co. increased its holdings in shares of Walt Disney by 7.8% in the second quarter. Sei Investments Co. now owns 642,126 shares of the entertainment giant’s stock valued at $63,760,000 after purchasing an additional 46,620 shares during the period. Finally, Boston Research & Management Inc. increased its holdings in shares of Walt Disney by 3.7% in the second quarter. Boston Research & Management Inc. now owns 47,479 shares of the entertainment giant’s stock valued at $4,714,000 after purchasing an additional 1,690 shares during the period. Institutional investors own 65.71% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the transaction, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the transaction, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is owned by corporate insiders.

Walt Disney Stock Performance

NYSE DIS opened at $107.07 on Friday. The company has a market cap of $193.90 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43. The stock’s 50 day simple moving average is $112.08 and its 200-day simple moving average is $99.67. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67.

Walt Disney (NYSE:DIS) last released its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. The business had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. As a group, equities research analysts anticipate that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio (DPR) is presently 36.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DIS. Evercore ISI increased their price objective on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Needham & Company LLC increased their price objective on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. Piper Sandler began coverage on Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective on the stock. Morgan Stanley increased their price objective on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company raised their target price on Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Walt Disney presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.54.

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.