Red Wave Investments LLC Buys New Position in The Walt Disney Company (NYSE:DIS)

Red Wave Investments LLC purchased a new position in The Walt Disney Company (NYSE:DIS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,863 shares of the entertainment giant’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently made changes to their positions in DIS. Farmers Trust Co. grew its holdings in shares of Walt Disney by 1.1% in 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 holdings in Walt Disney by 2.7% during the 4th quarter. Pathway Financial Advisors LLC now owns 3,471 shares of the entertainment giant’s stock valued at $386,000 after buying an additional 92 shares in the last quarter. Prossimo Advisors LLC boosted its position in 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 buying an additional 92 shares during the period. Saxon Interests Inc. grew its stake in Walt Disney by 2.8% in the 4th quarter. Saxon Interests Inc. now owns 3,412 shares of the entertainment giant’s stock worth $380,000 after acquiring an additional 93 shares in the last quarter. Finally, Abundance Wealth Counselors increased its position in shares of Walt Disney by 1.0% during the fourth quarter. Abundance Wealth Counselors now owns 9,662 shares of the entertainment giant’s stock worth $1,076,000 after acquiring an additional 94 shares during the period. Institutional investors own 65.71% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brent Woodford sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was 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 directly owns 44,055 shares in the company, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Walt Disney Price Performance

Shares of DIS stock opened at $108.62 on Friday. The firm has a market capitalization of $196.37 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 1.81 and a beta of 1.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.68. The stock’s 50-day simple moving average is $110.70 and its 200-day simple moving average is $102.39. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. As a group, equities analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Investors 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 yield of 0.6%. Walt Disney’s dividend payout ratio (DPR) is 32.57%.

Analyst Ratings Changes

Several brokerages recently issued reports on DIS. Rosenblatt Securities reissued a “buy” rating and issued a $135.00 price objective on shares of Walt Disney in a research note on Monday, February 10th. Bank of America upped their target price on Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley raised their price target on Walt Disney from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Evercore ISI upped their price objective on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, TD Cowen raised 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. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Walt Disney has an average rating of “Moderate Buy” and an average target price of $125.44.

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.