Sanders Morris Harris LLC Sells 10,495 Shares of The Walt Disney Company (NYSE:DIS)

Sanders Morris Harris LLC cut its stake in shares of The Walt Disney Company (NYSE:DIS) by 42.4% during the fourth quarter, HoldingsChannel reports. The firm owned 14,282 shares of the entertainment giant’s stock after selling 10,495 shares during the quarter. Sanders Morris Harris LLC’s holdings in Walt Disney were worth $1,590,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC raised its holdings in Walt Disney by 1.8% during the 4th quarter. Winch Advisory Services LLC now owns 18,489 shares of the entertainment giant’s stock valued at $2,059,000 after buying an additional 325 shares during the period. RMR Wealth Builders increased its position in Walt Disney by 3.0% during the fourth quarter. RMR Wealth Builders now owns 7,356 shares of the entertainment giant’s stock valued at $819,000 after acquiring an additional 215 shares during the last quarter. USA Financial Formulas raised its stake in shares of Walt Disney by 2,894.3% in the fourth quarter. USA Financial Formulas now owns 5,210 shares of the entertainment giant’s stock valued at $580,000 after acquiring an additional 5,036 shares during the period. HCR Wealth Advisors lifted its holdings in shares of Walt Disney by 7.5% in the 4th quarter. HCR Wealth Advisors now owns 19,694 shares of the entertainment giant’s stock worth $2,193,000 after acquiring an additional 1,368 shares during the last quarter. Finally, Brave Asset Management Inc. boosted its stake in shares of Walt Disney by 6.2% during the 4th quarter. Brave Asset Management Inc. now owns 3,591 shares of the entertainment giant’s stock worth $400,000 after purchasing an additional 211 shares during the period. 65.71% of the stock is owned by institutional investors.

Walt Disney Trading Down 0.1 %

NYSE DIS opened at $108.07 on Thursday. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. The company has a 50 day moving average price of $111.58 and a 200 day moving average price of $99.51. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The firm has a market cap of $195.71 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company had revenue of $22.57 billion during the quarter, compared to analysts’ expectations of $22.49 billion. During the same period last year, the business posted $0.82 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that The Walt Disney Company will post 5.41 EPS for the current fiscal year.

Walt Disney Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend is Monday, December 16th. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio is presently 36.90%.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 8,000 shares of the firm’s stock in a transaction on 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 owns 44,055 shares in the company, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $114.57, for a total value of $42,667,242.84. Following the sale, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,412 shares of company stock valued at $44,153,263. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

DIS has been the subject of several analyst reports. Raymond James reissued a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Evercore ISI boosted their price objective on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Morgan Stanley upped their price objective on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seaport Res Ptn upgraded Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, TD Cowen raised their price target on shares of Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.54.

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.