Berkshire Bank Has $2.76 Million Position in The Walt Disney Company (NYSE:DIS)

Berkshire Bank lifted its position in The Walt Disney Company (NYSE:DIS) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 24,766 shares of the entertainment giant’s stock after buying an additional 1,245 shares during the quarter. Berkshire Bank’s holdings in Walt Disney were worth $2,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Farmers Trust Co. raised its stake in shares of 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 last quarter. Saxon Interests Inc. boosted its stake in Walt Disney by 2.8% in the fourth quarter. Saxon Interests Inc. now owns 3,412 shares of the entertainment giant’s stock worth $380,000 after purchasing an additional 93 shares in the last quarter. Smithfield Trust Co grew its holdings in shares of Walt Disney by 0.5% during the third quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock worth $1,809,000 after purchasing an additional 102 shares during the last quarter. Drucker Wealth 3.0 LLC increased its stake in shares of Walt Disney by 0.9% in the third quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock valued at $1,121,000 after buying an additional 106 shares in the last quarter. Finally, Connable Office Inc. raised its holdings in shares of Walt Disney by 0.3% in the third quarter. Connable Office Inc. now owns 35,048 shares of the entertainment giant’s stock valued at $3,371,000 after buying an additional 108 shares during 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 $113.18 on Tuesday. The company has a market capitalization of $204.97 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.43. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. 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 company’s 50 day moving average price is $112.46 and its two-hundred day moving average price is $100.11.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, beating 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 net margin of 5.44% and a return on equity of 9.21%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. On average, analysts expect 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 disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DIS shares. Wells Fargo & Company increased their price objective on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Loop Capital raised their price target on shares of Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, November 15th. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $147.00 in a research report on Tuesday, January 7th. Piper Sandler began coverage on Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 target price for the company. Finally, Rosenblatt Securities upped their price target on Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.52.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. This trade represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is owned by corporate 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.