Retirement Systems of Alabama Reduces Holdings in The Walt Disney Company (NYSE:DIS)

Retirement Systems of Alabama lowered its position in The Walt Disney Company (NYSE:DIS) by 3.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 389,749 shares of the entertainment giant’s stock after selling 12,395 shares during the period. Retirement Systems of Alabama’s holdings in Walt Disney were worth $37,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DIS. State Street Corp boosted its position in Walt Disney by 0.6% during the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after acquiring an additional 490,681 shares during the last quarter. Geode Capital Management LLC lifted its stake in Walt Disney by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after purchasing an additional 1,393,082 shares in the last quarter. FMR LLC boosted its holdings in shares of Walt Disney by 8.7% during the 3rd quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after purchasing an additional 2,765,389 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Walt Disney by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock worth $1,477,831,000 after purchasing an additional 1,449,730 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Walt Disney by 3.1% in the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock valued at $1,417,958,000 after purchasing an additional 425,438 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Stock Performance

Shares of DIS stock opened at $113.32 on Friday. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. The firm has a 50 day moving average of $104.68 and a two-hundred day moving average of $98.14. 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 capitalization of $205.22 billion, a PE ratio of 41.82, a P/E/G ratio of 2.05 and a beta of 1.42.

Walt Disney (NYSE:DIS) last issued 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. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. During the same quarter in the prior year, the business earned $0.82 EPS. Walt Disney’s revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. Walt Disney’s dividend payout ratio is currently 36.90%.

Insider Activity

In related news, EVP Brent Woodford sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 44,055 shares in the company, valued at $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction 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. The trade was a 62.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on DIS. Raymond James reaffirmed a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Evercore ISI raised their price objective on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Jefferies Financial Group assumed coverage on shares of Walt Disney in a report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price on the stock. Morgan Stanley raised their price target on shares of Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Bank of America lifted their price target on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and a consensus target price of $123.67.

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.