Birmingham Capital Management Co. Inc. AL Sells 1,510 Shares of The Walt Disney Company (NYSE:DIS)

Birmingham Capital Management Co. Inc. AL trimmed its stake in The Walt Disney Company (NYSE:DIS) by 14.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,836 shares of the entertainment giant’s stock after selling 1,510 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Walt Disney were worth $850,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DIS. State Street Corp increased its holdings in shares of Walt Disney by 0.6% during the 3rd quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after acquiring an additional 490,681 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Walt Disney by 3.8% during the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after acquiring an additional 1,393,082 shares during the period. FMR LLC grew its position in shares of Walt Disney by 8.7% in the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after purchasing an additional 2,765,389 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Walt Disney by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock worth $1,477,831,000 after purchasing an additional 1,449,730 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Walt Disney by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock valued at $1,417,958,000 after purchasing an additional 425,438 shares during the period. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DIS has been the subject of a number of research reports. TD Cowen lifted their target price on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a report on Friday, November 15th. Wells Fargo & Company lifted their price objective on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Piper Sandler initiated coverage on shares of Walt Disney in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price target for the company. Morgan Stanley raised their price objective on Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group began coverage on Walt Disney in a research report on Wednesday, December 4th. They set a “hold” rating and a $120.00 target price for the company. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.67.

Insider Buying and Selling at Walt Disney

In other news, EVP Brent Woodford sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the sale, the executive vice president now owns 44,055 shares in the company, valued at $5,005,529.10. This represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction dated 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 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 sold a total of 385,412 shares of company stock valued at $44,153,263 in the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

Shares of NYSE:DIS traded down $1.03 during midday trading on Friday, reaching $113.87. 1,236,120 shares of the company’s stock traded hands, compared to its average volume of 10,791,111. The stock has a 50 day moving average of $104.32 and a 200 day moving average of $98.04. 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 has a market cap of $206.21 billion, a price-to-earnings ratio of 42.40, a P/E/G ratio of 2.05 and a beta of 1.42. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74.

Walt Disney (NYSE:DIS) last announced its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $22.57 billion during the quarter, compared to analyst estimates of $22.49 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. 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 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. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. Walt Disney’s dividend payout ratio is presently 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.