Barclays Maintains an 'Overweight' on Walt Disney (DIS); Surprise Stocking Stuffer

Barclays maintains an 'Overweight' on Walt Disney (NYSE: DIS) price target of $44.00.

Barclays analyst says, "Disney increased its annual dividend to $0.60 per share, from $0.40 per share. Based on yesterday's closing price of $35.85 (and with the stock relatively unchanged in the after-market), this implies a new dividend yield of 1.7%, compared to 1.1% previously. This dividend raise, combined with Disney's accelerated buyback activity, demonstrates the company's willingness to return capital to shareholders."

"Disney's new dividend yield puts the company third-best in Large-cap Media, behind Time Warner (NYSE: TWX) and Viacom (VIA-B). Disney ranks fifth-best in terms of estimated net share repurchases as a % of its market cap, behind Time Warner, Viacom, Scripps (NYSE: SNI), and CBS (NYSE: CBS). Given that Disney is currently undergoing an investment cycle at its Parks, we believe a case can be made for more favorable return of capital policies once capex moderates in 2013 and beyond."

For an analyst ratings summary and ratings history on Walt Disney click here. For more ratings news on Walt Disney click here.

Shares of Walt Disney closed at $35.85 yesterday.

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