Grimes & Company Inc. Lowers Stock Holdings in The Walt Disney Company (NYSE:DIS)

Grimes & Company Inc. trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 163,768 shares of the entertainment giant’s stock after selling 772 shares during the period. Grimes & Company Inc.’s holdings in Walt Disney were worth $18,236,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in Walt Disney in the 2nd quarter worth approximately $378,000. AQR Capital Management LLC lifted its stake in Walt Disney by 160.5% in the 2nd quarter. AQR Capital Management LLC now owns 829,220 shares of the entertainment giant’s stock worth $82,333,000 after purchasing an additional 510,844 shares in the last quarter. APG Asset Management N.V. lifted its stake in Walt Disney by 65.6% in the 2nd quarter. APG Asset Management N.V. now owns 582,325 shares of the entertainment giant’s stock worth $53,948,000 after purchasing an additional 230,594 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of Walt Disney during the 2nd quarter valued at about $336,000. Finally, MBB Public Markets I LLC raised its position in shares of Walt Disney by 185.1% during the 2nd quarter. MBB Public Markets I LLC now owns 240,581 shares of the entertainment giant’s stock valued at $23,887,000 after buying an additional 156,194 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Stock Up 1.1 %

DIS stock opened at $112.25 on Friday. The firm 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 debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The firm’s fifty day moving average is $112.46 and its 200 day moving average is $100.07. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74.

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

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a dividend yield of 0.6%. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is currently 36.90%.

Analysts Set New Price Targets

DIS has been the topic of a number of recent analyst reports. Redburn Atlantic raised shares of Walt Disney from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $147.00 in a research report on Tuesday, January 7th. Needham & Company LLC increased their price objective on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Macquarie restated a “neutral” rating and issued a $110.00 target price on shares of Walt Disney in a research note on Monday, January 6th. Jefferies Financial Group began coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price on the stock. Finally, Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.52.

Insider Transactions at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction dated 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 owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brent Woodford sold 8,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction 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. The trade was a 15.37 % 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 90 days. Corporate insiders own 0.10% 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.