Brent Woodford, Executive Vice President of Control, Financial Planning & Tax at Walt Disney Co (NYSE:NYSE:DIS), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Woodford sold a total of 8,000 shares of Disney common stock. The sales occurred on December 11, 2024, with transaction prices ranging from $114.49 to $114.99 per share, amounting to a total of $917,920.
In addition to the sales, Woodford also exercised stock options to acquire 8,000 shares at a price of $92.235 per share, valued at $737,880. Following these transactions, Woodford's direct ownership of Disney shares stands at 44,055 shares.
These transactions reflect routine management of stock holdings by company executives, a common practice in corporate governance.
In other recent news, Disney has unveiled strategies for growth which include ongoing cost reduction efforts and price increases for its streaming services. The company's fiscal year 2025 operating income growth is expected to be more heavily weighted toward the second half of the year. Disney has also reported strong future bookings at Disneyworld, suggesting a positive outlook for the company's theme park division.
Evercore ISI, TD Cowen, and Guggenheim have all adjusted their outlooks on Disney, with Evercore ISI increasing its price target on Disney shares from $128 to $134 while maintaining an Outperform rating. Disney has also announced a 33% increase in its annual cash dividend to $1.00 per share, a significant rise from the previous year's $0.75 per share.
Furthermore, Disney's latest release, "Moana 2," has set a new record for the highest 5-day opening in cinema history, amassing a remarkable $221 million domestically and $386 million worldwide. These are the recent developments at Disney.
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