Financial Management Network Inc. Cuts Stock Holdings in The Walt Disney Company (NYSE:DIS)

Financial Management Network Inc. reduced its position in shares of The Walt Disney Company (NYSE:DIS) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,283 shares of the entertainment giant’s stock after selling 253 shares during the period. Financial Management Network Inc.’s holdings in Walt Disney were worth $476,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC purchased a new position in Walt Disney during the fourth quarter worth about $35,000. Hager Investment Management Services LLC purchased a new position in Walt Disney during the fourth quarter worth about $43,000. Cedar Mountain Advisors LLC raised its holdings in Walt Disney by 38.1% during the fourth quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock worth $44,000 after purchasing an additional 110 shares in the last quarter. Friedenthal Financial purchased a new position in Walt Disney during the fourth quarter worth about $49,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Walt Disney during the fourth quarter worth about $50,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Down 0.8 %

Shares of NYSE DIS opened at $109.48 on Wednesday. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The firm’s 50 day moving average price is $110.95 and its 200 day moving average price is $102.13. The firm has a market cap of $197.91 billion, a P/E ratio of 35.66, a price-to-earnings-growth ratio of 1.79 and a beta of 1.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.68.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. As a group, sell-side analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current year.

Walt Disney Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a yield of 0.6%. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is 32.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DIS shares. Evercore ISI increased their price target on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Macquarie restated a “neutral” rating and set a $110.00 target price on shares of Walt Disney in a research report on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup restated a “buy” rating and set a $125.00 target price on shares of Walt Disney in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Walt Disney in a research report on Wednesday, February 5th. Six research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.85.

Insider Buying and Selling

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,054,870.70. This represents a 15.37 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by company 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.