Connable Office Inc. Lowers Stock Position in The Walt Disney Company (NYSE:DIS)

Connable Office Inc. cut its position in shares of The Walt Disney Company (NYSE:DIS) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,405 shares of the entertainment giant’s stock after selling 5,643 shares during the period. Connable Office Inc.’s holdings in Walt Disney were worth $3,274,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DIS. FPC Investment Advisory Inc. purchased a new stake in Walt Disney during the fourth quarter worth $28,000. Midwest Capital Advisors LLC acquired a new position in Walt Disney during the fourth quarter worth $34,000. Bay Harbor Wealth Management LLC acquired a new position in Walt Disney during the fourth quarter worth $35,000. Hager Investment Management Services LLC acquired a new position in Walt Disney during the fourth quarter worth $43,000. Finally, Cedar Mountain Advisors LLC raised its position 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 acquiring an additional 110 shares during the period. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Trading Up 2.3 %

Shares of DIS stock opened at $113.82 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62. The firm has a market cap of $205.77 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 1.80 and a beta of 1.42. The company has a 50-day moving average of $110.68 and a two-hundred day moving average of $103.23. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 EPS for the quarter, beating the consensus estimate of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. On average, analysts predict that The Walt Disney Company will post 5.47 EPS for the current year.

Walt Disney Increases Dividend

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

Insider Activity

In other news, EVP Brent Woodford sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

DIS has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Walt Disney from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Sanford C. Bernstein upped their price objective on shares of Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. TD Cowen increased their target price on shares of Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research report on Friday, November 15th. Guggenheim increased their target price on shares of Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, 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 target price for the company. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.44.

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.