Covea Finance Has $59.67 Million Position in The Walt Disney Company (NYSE:DIS)

Covea Finance reduced its holdings in The Walt Disney Company (NYSE:DIS) by 5.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 535,876 shares of the entertainment giant’s stock after selling 30,140 shares during the quarter. Walt Disney makes up 2.7% of Covea Finance’s portfolio, making the stock its 7th biggest position. Covea Finance’s holdings in Walt Disney were worth $59,670,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DIS. Farmers Trust Co. boosted its stake in Walt Disney by 1.1% in the fourth quarter. Farmers Trust Co. now owns 8,483 shares of the entertainment giant’s stock valued at $945,000 after acquiring an additional 92 shares during the period. Smithfield Trust Co boosted its position in Walt Disney by 0.5% during the 3rd quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock valued at $1,809,000 after purchasing an additional 102 shares during the period. Drucker Wealth 3.0 LLC grew its stake in Walt Disney by 0.9% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock worth $1,121,000 after buying an additional 106 shares during the last quarter. Connable Office Inc. increased its position in Walt Disney by 0.3% in the third quarter. Connable Office Inc. now owns 35,048 shares of the entertainment giant’s stock worth $3,371,000 after buying an additional 108 shares during the period. Finally, Cozad Asset Management Inc. lifted its stake in Walt Disney by 1.9% in the third quarter. Cozad Asset Management Inc. now owns 6,017 shares of the entertainment giant’s stock valued at $579,000 after buying an additional 110 shares during the last quarter. Institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

DIS has been the topic of a number of analyst reports. Loop Capital increased their price objective on shares of Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley lifted their price target on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Guggenheim increased 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. Evercore ISI lifted their target price on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.54.

Walt Disney Stock Performance

Shares of DIS stock opened at $108.03 on Wednesday. The firm has a market cap of $195.64 billion, a P/E ratio of 39.86, a PEG ratio of 2.03 and a beta of 1.43. 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 fifty-two week low of $83.91 and a fifty-two week high of $123.74. The stock’s 50-day moving average is $111.58 and its two-hundred day moving average is $99.51.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The firm had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. 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 disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, December 16th. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio is currently 36.90%.

Insiders Place Their Bets

In other Walt Disney news, EVP Brent Woodford sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the sale, the executive vice president now owns 44,055 shares of the company’s stock, valued at $5,054,870.70. This represents a 15.37 % decrease in their ownership of the stock. The sale 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 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. This trade represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,412 shares of company stock valued at $44,153,263 over the last three months. 0.10% of the stock is currently 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.