Petredis Investment Advisors LLC Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Petredis Investment Advisors LLC lowered its holdings in The Walt Disney Company (NYSE:DIS) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,868 shares of the entertainment giant’s stock after selling 628 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Walt Disney were worth $2,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DIS. Concurrent Investment Advisors LLC increased its position in shares of Walt Disney by 8.4% during the third quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock valued at $6,420,000 after acquiring an additional 5,184 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Walt Disney by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock worth $1,001,454,000 after buying an additional 114,701 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Walt Disney by 10.5% in the 4th quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock valued at $15,687,000 after acquiring an additional 13,339 shares during the period. Summit Global Investments increased its stake in Walt Disney by 476.0% in the 3rd quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock valued at $1,191,000 after buying an additional 10,230 shares during the period. Finally, Avanza Fonder AB acquired a new position in Walt Disney in the 4th quarter valued at $15,125,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Stock Performance

DIS opened at $112.25 on Friday. The stock has a market cap of $203.28 billion, a PE ratio of 41.42, a P/E/G ratio of 1.95 and a beta of 1.43. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The stock’s 50 day simple moving average is $112.52 and its 200-day simple moving average is $99.98.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The business had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that The Walt Disney Company will post 5.41 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 dividend of $0.50 per share. This represents a dividend yield of 0.6%. The ex-dividend date was Monday, December 16th. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is 36.90%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DIS shares. Evercore ISI upped their target price 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. Loop Capital increased their price objective on shares of Walt Disney from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Rosenblatt Securities increased their price objective on shares of Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Seaport Res Ptn upgraded Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.52.

Insider Transactions at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 226,767 shares in the company, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the sale, the executive vice president now owns 44,055 shares of the company’s stock, valued at $5,005,529.10. This trade represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,412 shares of company stock valued at $44,153,263 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

Walt Disney 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.