Covey Capital Advisors LLC Sells 2,197 Shares of The Walt Disney Company (NYSE:DIS)

Covey Capital Advisors LLC lowered its position in shares of The Walt Disney Company (NYSE:DIS) by 30.8% in the 4th quarter, HoldingsChannel reports. The firm owned 4,935 shares of the entertainment giant’s stock after selling 2,197 shares during the quarter. Covey Capital Advisors LLC’s holdings in Walt Disney were worth $550,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Farmers Trust Co. lifted its stake in Walt Disney by 1.1% during the fourth quarter. Farmers Trust Co. now owns 8,483 shares of the entertainment giant’s stock worth $945,000 after purchasing an additional 92 shares during the last quarter. Pathway Financial Advisors LLC lifted its stake in Walt Disney by 2.7% during the fourth quarter. Pathway Financial Advisors LLC now owns 3,471 shares of the entertainment giant’s stock worth $386,000 after purchasing an additional 92 shares during the last quarter. Prossimo Advisors LLC lifted its stake in shares of Walt Disney by 1.1% in the 4th quarter. Prossimo Advisors LLC now owns 8,732 shares of the entertainment giant’s stock valued at $972,000 after acquiring an additional 92 shares during the last quarter. Saxon Interests Inc. lifted its stake in shares of Walt Disney by 2.8% in the 4th quarter. Saxon Interests Inc. now owns 3,412 shares of the entertainment giant’s stock valued at $380,000 after acquiring an additional 93 shares during the last quarter. Finally, Abundance Wealth Counselors lifted its stake in shares of Walt Disney by 1.0% in the 4th quarter. Abundance Wealth Counselors now owns 9,662 shares of the entertainment giant’s stock valued at $1,076,000 after acquiring an additional 94 shares during the last quarter. Institutional investors own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

DIS has been the subject of a number of recent research reports. Redburn Atlantic raised Walt Disney from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $147.00 in a research note on Tuesday, January 7th. Guggenheim boosted their price target on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. Sanford C. Bernstein boosted their price target on Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Macquarie restated a “neutral” rating and set a $110.00 price target on shares of Walt Disney in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price target on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $125.85.

Walt Disney Stock Performance

Shares of DIS opened at $110.52 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $110.80 and its 200-day moving average price is $102.34. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. The stock has a market cap of $199.80 billion, a P/E ratio of 36.00, a P/E/G ratio of 1.78 and a beta of 1.42.

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

Walt Disney Increases Dividend

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

Insider Activity

In other news, EVP Brent Woodford sold 8,000 shares of the stock in a transaction 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 of the company’s stock, valued at $5,054,870.70. This represents a 15.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

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.