Lorne Steinberg Wealth Management Inc. Has $5.75 Million Holdings in The Walt Disney Company (NYSE:DIS)

Lorne Steinberg Wealth Management Inc. trimmed its position in shares of The Walt Disney Company (NYSE:DIS) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,689 shares of the entertainment giant’s stock after selling 865 shares during the period. Walt Disney makes up approximately 1.9% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 23rd largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Walt Disney were worth $5,750,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Gradient Capital Advisors LLC lifted its position in Walt Disney by 2.9% in the fourth quarter. Gradient Capital Advisors LLC now owns 3,975 shares of the entertainment giant’s stock valued at $359,000 after purchasing an additional 111 shares during the last quarter. First Business Financial Services Inc. increased its position in shares of Walt Disney by 0.7% during the third quarter. First Business Financial Services Inc. now owns 16,514 shares of the entertainment giant’s stock valued at $1,338,000 after buying an additional 113 shares during the period. Kelman Lazarov Inc. grew its holdings in shares of Walt Disney by 3.4% during the 4th quarter. Kelman Lazarov Inc. now owns 3,583 shares of the entertainment giant’s stock worth $324,000 after acquiring an additional 117 shares during the period. CoreCap Advisors LLC raised its position in shares of Walt Disney by 0.5% in the 4th quarter. CoreCap Advisors LLC now owns 24,096 shares of the entertainment giant’s stock worth $2,176,000 after acquiring an additional 118 shares in the last quarter. Finally, Bfsg LLC lifted its stake in shares of Walt Disney by 3.2% in the 3rd quarter. Bfsg LLC now owns 3,894 shares of the entertainment giant’s stock valued at $316,000 after purchasing an additional 121 shares during the period. 65.71% of the stock is owned by institutional investors.

Walt Disney Stock Performance

DIS traded down $0.12 during trading on Wednesday, hitting $113.59. The company’s stock had a trading volume of 3,039,088 shares, compared to its average volume of 11,859,621. The Walt Disney Company has a one year low of $78.73 and a one year high of $123.74. The business’s 50 day simple moving average is $114.10 and its 200-day simple moving average is $99.27. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39. The firm has a market cap of $208.36 billion, a PE ratio of 70.10, a P/E/G ratio of 1.38 and a beta of 1.42.

Walt Disney (NYSE:DIS) last announced its quarterly earnings data on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.25. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The company had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $23.71 billion. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict that The Walt Disney Company will post 4.66 EPS for the current fiscal year.

Walt Disney Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a yield of 0.5%. Walt Disney’s dividend payout ratio is presently 18.52%.

Insider Buying and Selling

In other news, EVP Sonia L. Coleman sold 1,857 shares of Walt Disney stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the sale, the executive vice president now owns 4,400 shares in the company, valued at $536,448. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Argus increased their price objective on Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Daiwa Capital Markets reissued a “buy” rating and set a $133.00 price target on shares of Walt Disney in a research report on Monday, April 1st. Tigress Financial restated a “buy” rating and issued a $136.00 price objective on shares of Walt Disney in a report on Wednesday, February 21st. Macquarie lifted their target price on shares of Walt Disney from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Needham & Company LLC upped their price target on Walt Disney from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.08.

Walt Disney Company 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.