Citizens Business Bank Sells 1,249 Shares of The Walt Disney Company (NYSE:DIS)

Citizens Business Bank decreased its position in The Walt Disney Company (NYSE:DIS) by 3.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 35,223 shares of the entertainment giant’s stock after selling 1,249 shares during the period. Citizens Business Bank’s holdings in Walt Disney were worth $3,388,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Second Line Capital LLC bought a new stake in shares of Walt Disney during the 3rd quarter worth about $244,000. Hohimer Wealth Management LLC bought a new stake in shares of Walt Disney during the third quarter worth approximately $1,192,000. Soltis Investment Advisors LLC grew its position in shares of Walt Disney by 5.5% in the third quarter. Soltis Investment Advisors LLC now owns 6,371 shares of the entertainment giant’s stock valued at $613,000 after purchasing an additional 334 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Walt Disney by 1.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 13,333 shares of the entertainment giant’s stock worth $1,283,000 after purchasing an additional 139 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Walt Disney by 25.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 6,898 shares of the entertainment giant’s stock valued at $663,000 after purchasing an additional 1,406 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Trading Up 0.1 %

Shares of DIS stock opened at $114.75 on Wednesday. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The stock’s fifty day simple moving average is $103.07 and its 200 day simple moving average is $97.73. 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 firm has a market capitalization of $207.81 billion, a P/E ratio of 42.34, a P/E/G ratio of 2.05 and a beta of 1.42.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share 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 analysts’ expectations 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 period in the previous year, the business posted $0.82 earnings per share. As a group, sell-side analysts predict that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a dividend yield of 0.6%. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is presently 33.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DIS shares. Sanford C. Bernstein lifted their target price on Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Bank of America boosted their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a report on Friday, November 15th. Macquarie lifted their price target on shares of Walt Disney from $91.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Evercore ISI increased their price target on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.67.

Insider Transactions at Walt Disney

In other news, CEO Robert A. Iger sold 372,412 shares of the business’s 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 transaction, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brent Woodford sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the sale, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. This trade represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

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.