Connable Office Inc. Reduces 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% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in shares of Walt Disney during the 4th quarter worth about $28,000. Midwest Capital Advisors LLC bought a new stake in Walt Disney during the 4th quarter valued at about $34,000. Bay Harbor Wealth Management LLC bought a new stake in Walt Disney during the 4th quarter valued at about $35,000. Hager Investment Management Services LLC bought a new stake in Walt Disney during the 4th quarter valued at about $43,000. Finally, Providence First Trust Co bought a new stake in Walt Disney during the 4th quarter valued at about $44,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup reiterated a “buy” rating and set a $125.00 price objective on shares of Walt Disney in a report on Wednesday, January 22nd. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and boosted their price target for the company from $100.00 to $147.00 in a report on Tuesday, January 7th. Macquarie restated a “neutral” rating and issued a $110.00 price target on shares of Walt Disney in a report on Monday, January 6th. Bank of America boosted their price target on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Evercore ISI boosted their price target on shares of Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $125.44.

Walt Disney Stock Up 2.3 %

NYSE:DIS opened at $113.82 on Friday. The company has a market cap of $205.77 billion, a PE ratio of 37.08, a P/E/G ratio of 1.80 and a beta of 1.42. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $110.68 and its two-hundred day moving average is $103.23.

Walt Disney (NYSE:DIS) last released its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, topping 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%. Analysts anticipate 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 issued a $0.50 dividend. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. The ex-dividend date was Monday, December 16th. Walt Disney’s dividend payout ratio is 32.57%.

Insider Activity

In other news, EVP Brent Woodford sold 8,000 shares of the company’s stock in a transaction 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.