Savoie Capital LLC Reduces Its Shareholding in The Walt Disney Company

Savoie Capital LLC has decreased its holdings in shares of The Walt Disney Company (NYSE:DIS) by 11.7% during the third quarter, based on its recent Form 13F filing with the Securities and Exchange Commission. Following the sale of 6,300 shares during this quarter, Savoie Capital now owns 47,491 shares of the entertainment giant, which were valued at approximately $4,568,000 at the end of this reporting period.

Other large investors have also adjusted their stakes in Walt Disney. For instance, State Street Corp increased its stake by 0.6% in the third quarter, bringing its total to 77,596,191 shares valued at $7.46 billion, following the purchase of an additional 490,681 shares. Similarly, FMR LLC raised its holdings by 8.7%, now owning 34,416,668 shares worth $3.31 billion after adding 2,765,389 shares.

Bank of New York Mellon Corp also boosted its position by 10.8% in the second quarter, totaling 14,883,983 shares valued at $1.48 billion, and Legal & General Group Plc slightly increased its stake by 3.1%, amounting to 14,281,047 shares worth $1.42 billion. Furthermore, UBS Asset Management Americas LLC raised its holdings by 3.4% during the third quarter, accumulating 13,850,678 shares valued at around $1.33 billion. Overall, institutional investors and hedge funds now own 65.71% of Disney's stock.

Recent Insider Transactions

In other news, CEO Robert A. Iger recently sold 372,412 shares of Walt Disney on November 22nd at an average price of $114.57, totaling approximately $42.67 million. After this transaction, Iger retains ownership of 226,767 shares valued at around $25.98 million, reflecting a significant decrease in his shareholding by 62.15%. Additionally, EVP Brent Woodford sold 5,000 shares for a total of $568,100 on November 20th, now holding 44,055 shares valued at approximately $5.01 million, indicating a 10.19% decrease in his position. Information about these transactions is available in filings with the SEC.

Walt Disney's Stock Performance

As of Tuesday, DIS shares opened at $114.64. The company's twelve-month high is $123.74, and the low is $83.91. Disney's quick ratio stands at 0.67, and the current ratio is 0.73, with a debt-to-equity ratio of 0.37. Over the past fifty days, the stock has a simple moving average of $103.07, and the 200-day simple moving average is $97.73. Currently, Disney's market capitalization is approximately $207.61 billion, with a P/E ratio of 42.30 and a P/E/G ratio of 2.09.

Disney recently announced its quarterly earnings on November 14th, reporting earnings per share (EPS) of $1.14, surpassing analysts' expectations of $1.09. The company generated revenue of $22.57 billion, slightly exceeding analyst estimates of $22.49 billion, resulting in a net margin of 5.44% and a return on equity of 9.21%. This indicates a year-over-year revenue increase of 6.3% compared to the same quarter last year.

Dividend Announcement

Walt Disney also announced a semi-annual dividend set to be paid on January 16th, with shareholders receiving $0.50 per share. This dividend reflects a yield of 0.6% and is an increase from the previous dividend of $0.45. The record date for this dividend is December 16th, and the ex-dividend date will also be December 16th, with a payout ratio of 36.90%.

Analyst Ratings Update

The shares of Walt Disney have recently been covered in several analysts' reports. Piper Sandler initiated coverage on Walt Disney with a "neutral" rating and a price target of $95.00 on October 16th. Meanwhile, Sanford C. Bernstein raised its price target for Disney from $115.00 to $120.00 and assigned an "outperform" rating. Macquarie also adjusted their target price to $110.00, maintaining a "neutral" stance, while Seaport Res Ptn upgraded Disney from "hold" to "strong-buy". Evercore ISI adjusted its target up from $128.00 to $134.00, categorizing Disney as an "outperform". Currently, there are six hold ratings, eighteen buy ratings, and one strong buy rating, leading to a consensus rating of "Moderate Buy" with an average price target of $123.67.

About The Walt Disney Company

The Walt Disney Company operates globally in the entertainment sector, divided into three main segments: Entertainment, Sports, and Experiences. Disney produces and distributes film and television content through various channels, including ABC, Disney, and others, while offering original programming through its extensive production studios such as Marvel, Pixar, and Lucasfilm.

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