Ridgecrest Wealth Partners LLC Sells 190 Shares of The Walt Disney Company (NYSE:DIS)

Ridgecrest Wealth Partners LLC lowered its position in shares of The Walt Disney Company (NYSE:DIS) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,619 shares of the entertainment giant’s stock after selling 190 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Walt Disney were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DIS. International Assets Investment Management LLC increased its stake 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 during the last quarter. FMR LLC grew its holdings in Walt Disney by 8.7% during 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 period. Van ECK Associates Corp increased its position 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 worth $414,582,000 after buying an additional 2,298,921 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of 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 buying an additional 2,188,610 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Walt Disney by 3.8% in the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock valued at $3,609,833,000 after buying an additional 1,393,082 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Activity

In related news, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were 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 owns 226,767 shares of the company’s stock, valued at $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 value of $568,100.00. Following the completion of the sale, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,412 shares of company stock valued at $44,153,263. Insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

NYSE:DIS opened at $112.25 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74. The business has a 50 day moving average of $112.46 and a 200 day moving average of $100.11. The company has a market capitalization of $203.28 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 1.95 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. The business had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. During the same period last year, the company earned $0.82 EPS. Walt Disney’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. Walt Disney’s dividend payout ratio is currently 36.90%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DIS. Guggenheim lifted their price objective on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 15th. TD Cowen lifted their target price on shares of Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group began coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target on the stock. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $147.00 in a research note on Tuesday, January 7th. Finally, Piper Sandler assumed coverage on Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.52.

Walt Disney 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.