Canandaigua National Trust Co of Florida Increases Stake in The Walt Disney Company (NYSE:DIS)

Canandaigua National Trust Co of Florida lifted its position in shares of The Walt Disney Company (NYSE:DIS) by 46.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,726 shares of the entertainment giant’s stock after acquiring an additional 1,176 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Walt Disney were worth $415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Iowa State Bank lifted its stake in shares of Walt Disney by 1.5% in the 4th quarter. Iowa State Bank now owns 24,320 shares of the entertainment giant’s stock worth $2,708,000 after acquiring an additional 368 shares during the period. Nordea Investment Management AB grew its holdings in Walt Disney by 21.5% during the fourth quarter. Nordea Investment Management AB now owns 1,693,316 shares of the entertainment giant’s stock worth $188,195,000 after acquiring an additional 299,604 shares during the period. Central Pacific Bank Trust Division raised its position in Walt Disney by 8.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 19,447 shares of the entertainment giant’s stock worth $2,165,000 after acquiring an additional 1,517 shares in the last quarter. Everence Capital Management Inc. boosted its position in shares of Walt Disney by 5.3% during the 4th quarter. Everence Capital Management Inc. now owns 48,339 shares of the entertainment giant’s stock worth $5,383,000 after purchasing an additional 2,440 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Walt Disney during the 4th quarter worth $155,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DIS has been the subject of a number of research reports. Wells Fargo & Company boosted 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. Rosenblatt Securities upped their price target on shares of Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Needham & Company LLC increased their price objective on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Piper Sandler started 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. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Walt Disney currently has a consensus rating of “Moderate Buy” and an average target price of $123.58.

Walt Disney Stock Down 0.2 %

Shares of Walt Disney stock traded down $0.26 during trading on Monday, hitting $110.90. The company’s stock had a trading volume of 6,181,730 shares, compared to its average volume of 5,252,820. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. The company has a fifty day simple moving average of $109.69 and a two-hundred day simple moving average of $99.15. 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 capitalization of $200.83 billion, a PE ratio of 40.92, a P/E/G ratio of 2.05 and a beta of 1.43.

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

Walt Disney Increases Dividend

The firm also recently announced 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. 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 is Monday, December 16th. Walt Disney’s dividend payout ratio is presently 36.90%.

Insider Buying and Selling at Walt Disney

In related news, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction dated 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 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. In 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 insiders.

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.