Cohen Klingenstein LLC Sells 67,335 Shares of The Walt Disney Company (NYSE:DIS)

Cohen Klingenstein LLC trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,191 shares of the entertainment giant’s stock after selling 67,335 shares during the quarter. Walt Disney makes up approximately 2.1% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 10th largest position. Cohen Klingenstein LLC’s holdings in Walt Disney were worth $61,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. William B. Walkup & Associates Inc. purchased a new position in Walt Disney in the 2nd quarter worth approximately $32,000. Friedenthal Financial purchased a new position in Walt Disney during the fourth quarter worth approximately $49,000. Retirement Wealth Solutions LLC purchased a new stake in Walt Disney in the 4th quarter valued at $50,000. Birch Capital Management LLC acquired a new stake in shares of Walt Disney in the 4th quarter worth $56,000. Finally, First PREMIER Bank raised its holdings in shares of Walt Disney by 98.1% during the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after acquiring an additional 256 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 226,767 shares in the company, valued at $25,980,695.19. This represents a 62.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brent Woodford sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at $5,005,529.10. The trade was a 10.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock worth $44,153,263 in the last quarter. 0.10% of the stock is owned by insiders.

Walt Disney Stock Up 0.6 %

Shares of NYSE DIS opened at $107.07 on Friday. The firm has a market cap of $193.90 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The firm’s 50 day moving average price is $111.92 and its 200 day moving average price is $99.62.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data 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 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 revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, sell-side analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current year.

Walt Disney Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date was Monday, December 16th. Walt Disney’s dividend payout ratio is presently 36.90%.

Analyst Ratings Changes

DIS has been the subject of several research reports. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $147.00 in a research note on Tuesday, January 7th. Morgan Stanley lifted their price objective on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Raymond James restated a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Rosenblatt Securities boosted their target price on shares of Walt Disney from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, TD Cowen lifted their price target on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.54.

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.