Novare Capital Management LLC Sells 2,707 Shares of The Walt Disney Company (NYSE:DIS)

Novare Capital Management LLC lowered its holdings in The Walt Disney Company (NYSE:DIS) by 31.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,883 shares of the entertainment giant’s stock after selling 2,707 shares during the quarter. Novare Capital Management LLC’s holdings in Walt Disney were worth $655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Navis Wealth Advisors LLC raised its holdings in shares of Walt Disney by 10.9% in the 4th quarter. Navis Wealth Advisors LLC now owns 3,020 shares of the entertainment giant’s stock worth $336,000 after acquiring an additional 297 shares during the last quarter. Clarendon Private LLC bought a new stake in Walt Disney during the 4th quarter worth approximately $545,000. Moody Lynn & Lieberson LLC increased its holdings in Walt Disney by 2.3% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 9,777 shares of the entertainment giant’s stock worth $1,089,000 after purchasing an additional 221 shares in the last quarter. Patton Albertson Miller Group LLC raised its stake in shares of Walt Disney by 7.8% in the fourth quarter. Patton Albertson Miller Group LLC now owns 52,865 shares of the entertainment giant’s stock worth $5,887,000 after purchasing an additional 3,827 shares during the last quarter. Finally, Jacksonville Wealth Management LLC bought a new position in shares of Walt Disney in the fourth quarter valued at approximately $650,000. Institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Performance

Shares of DIS stock opened at $112.25 on Friday. The Walt Disney Company has a 12 month low of $83.91 and a 12 month high of $123.74. The stock has a market capitalization of $203.28 billion, a P/E ratio of 41.42, a PEG ratio of 1.95 and a beta of 1.43. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $112.46 and its 200 day moving average is $100.07.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm had revenue of $22.57 billion during the quarter, compared to analyst estimates of $22.49 billion. During the same period last year, the company earned $0.82 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is presently 36.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DIS shares. Raymond James reiterated a “market perform” rating on shares of Walt Disney in a report on Tuesday, October 1st. Morgan Stanley increased their target price on shares of Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Redburn Atlantic raised shares of Walt Disney from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $147.00 in a research report on Tuesday, January 7th. Jefferies Financial Group started coverage on shares of Walt Disney in a research report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 price objective for the company. Finally, Evercore ISI lifted their target price on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.52.

Insider Activity

In related news, CEO Robert A. Iger sold 372,412 shares of the business’s 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 $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total value of $568,100.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares in the company, valued at $5,005,529.10. This represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock worth $44,153,263 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Walt Disney Profile

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.