Fragasso Financial Advisors Inc Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Fragasso Financial Advisors Inc lessened its position in The Walt Disney Company (NYSE:DIS) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,148 shares of the entertainment giant’s stock after selling 1,302 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Walt Disney were worth $3,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brookstone Capital Management raised its holdings in shares of Walt Disney by 10.5% in the 4th quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock valued at $15,687,000 after buying an additional 13,339 shares during the period. City State Bank raised its holdings in shares of Walt Disney by 5.0% in the 4th quarter. City State Bank now owns 3,040 shares of the entertainment giant’s stock valued at $339,000 after buying an additional 144 shares during the period. Fiduciary Alliance LLC raised its holdings in shares of Walt Disney by 1.2% in the 4th quarter. Fiduciary Alliance LLC now owns 52,108 shares of the entertainment giant’s stock valued at $5,802,000 after buying an additional 643 shares during the period. Winthrop Advisory Group LLC raised its holdings in shares of Walt Disney by 1.8% in the 4th quarter. Winthrop Advisory Group LLC now owns 14,418 shares of the entertainment giant’s stock valued at $1,605,000 after buying an additional 253 shares during the period. Finally, Aprio Wealth Management LLC raised its holdings in shares of Walt Disney by 2.7% in the 4th quarter. Aprio Wealth Management LLC now owns 10,672 shares of the entertainment giant’s stock valued at $1,188,000 after buying an additional 279 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Transactions at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of the transaction, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 385,412 shares of company stock valued at $44,153,263. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DIS. Wells Fargo & Company upped their price target on Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI upped their price target on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Jefferies Financial Group began coverage on Walt Disney in a report on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target on the stock. Piper Sandler began coverage on Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Morgan Stanley upped their price target on Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Walt Disney Stock Performance

Walt Disney stock traded down $1.04 during mid-day trading on Monday, reaching $107.61. 2,738,981 shares of the company were exchanged, compared to its average volume of 6,356,598. The firm has a market cap of $194.88 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.43. The firm’s 50-day simple moving average is $111.11 and its two-hundred day simple moving average is $99.43. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73.

Walt Disney (NYSE:DIS) last issued its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The business had revenue of $22.57 billion during 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 company’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 EPS. Equities analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current fiscal 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 paid a dividend of $0.50 per share. This represents a dividend yield of 0.6%. This is an increase 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 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.