1ST Source Bank Sells 1,613 Shares of The Walt Disney Company (NYSE:DIS)

1ST Source Bank cut its stake in The Walt Disney Company (NYSE:DIS) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,197 shares of the entertainment giant’s stock after selling 1,613 shares during the period. 1ST Source Bank’s holdings in Walt Disney were worth $4,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DIS. Farallon Capital Management LLC acquired a new stake in Walt Disney during the second quarter worth about $355,673,000. International Assets Investment Management LLC grew its holdings 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 in the last quarter. FMR LLC raised its stake in shares of Walt Disney by 8.7% in 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 in the last quarter. Van ECK Associates Corp lifted 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 purchasing an additional 2,298,921 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Walt Disney by 112.0% in the 3rd 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. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, November 20th. The shares were 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. This trade represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 385,412 shares of company stock worth $44,153,263 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Walt Disney Trading Down 0.9 %

NYSE:DIS traded down $1.03 during mid-day trading on Friday, hitting $113.87. The company had a trading volume of 1,236,120 shares, compared to its average volume of 10,791,111. The firm has a market cap of $206.21 billion, a P/E ratio of 42.40, a P/E/G ratio of 2.05 and a beta of 1.42. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74. The business’s fifty day moving average is $104.32 and its two-hundred day moving average is $98.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73.

Walt Disney (NYSE:DIS) last released its quarterly earnings data 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 net margin of 5.44% and a return on equity of 9.21%. The business 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 EPS. Walt Disney’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts expect that The Walt Disney Company will post 5.41 earnings per share for the current 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 given a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a dividend yield of 0.6%. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Analysts Set New Price Targets

Several analysts have recently weighed in on DIS shares. Evercore ISI lifted their target price on shares of Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Macquarie upped their price objective on Walt Disney from $91.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Needham & Company LLC raised their target price on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley increased their price objective on Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.67.

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.