Franklin Resources Inc. Has $900.75 Million Position in The Walt Disney Company (NYSE:DIS)

Franklin Resources Inc. cut its holdings in The Walt Disney Company (NYSE:DIS) by 24.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,487,470 shares of the entertainment giant’s stock after selling 3,112,918 shares during the quarter. Franklin Resources Inc.’s holdings in Walt Disney were worth $900,754,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Farallon Capital Management LLC bought a new stake in Walt Disney in the 2nd quarter valued at $355,673,000. International Assets Investment Management LLC grew its holdings in shares of Walt Disney by 12,574.4% during the 3rd quarter. International Assets Investment Management LLC now owns 3,426,393 shares of the entertainment giant’s stock worth $329,585,000 after purchasing an additional 3,399,359 shares in the last quarter. FMR LLC boosted its stake in 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 buying an additional 2,765,389 shares in the last quarter. Van ECK Associates Corp boosted its stake in Walt Disney by 114.4% in the third quarter. Van ECK Associates Corp now owns 4,307,794 shares of the entertainment giant’s stock valued at $414,582,000 after buying an additional 2,298,921 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Walt Disney by 112.0% in the third quarter. Janus Henderson Group PLC now owns 4,142,991 shares of the entertainment giant’s stock valued at $398,508,000 after purchasing an additional 2,188,610 shares during the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DIS. Raymond James restated a “market perform” rating on shares of Walt Disney in a research report on Tuesday, October 1st. Macquarie raised their price objective on Walt Disney from $91.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Bank of America lifted their target price on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley lifted their target price on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Needham & Company LLC upped their price objective on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.67.

Walt Disney Stock Performance

NYSE:DIS opened at $114.90 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The stock has a market cap of $208.08 billion, a P/E ratio of 42.40, a PEG ratio of 2.05 and a beta of 1.42. The business’s 50-day moving average price is $104.32 and its two-hundred day moving average price is $98.04. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74.

Walt Disney (NYSE:DIS) last issued its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. The company had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, equities analysts predict that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be given a $0.50 dividend. This represents a dividend yield of 0.6%. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend is Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Insider Transactions at Walt Disney

In related news, EVP Brent Woodford sold 8,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the chief executive officer now owns 226,767 shares of the company’s stock, 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. In the last ninety days, insiders sold 385,412 shares of company stock valued at $44,153,263. Company insiders own 0.10% of the company’s stock.

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.