CIBC Asset Management Inc Boosts Stock Position in The Walt Disney Company (NYSE:DIS)

CIBC Asset Management Inc boosted its holdings in shares of The Walt Disney Company (NYSE:DIS) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330,965 shares of the entertainment giant’s stock after purchasing an additional 11,776 shares during the quarter. CIBC Asset Management Inc’s holdings in Walt Disney were worth $36,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bay Harbor Wealth Management LLC purchased a new position in shares of Walt Disney in the 4th quarter worth approximately $35,000. Hager Investment Management Services LLC bought a new position in Walt Disney during the fourth quarter valued at $43,000. Cedar Mountain Advisors LLC raised its stake in shares of Walt Disney by 38.1% in the fourth quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock valued at $44,000 after acquiring an additional 110 shares during the period. Friedenthal Financial bought a new stake in shares of Walt Disney in the 4th quarter worth about $49,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Walt Disney during the 4th quarter worth about $50,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

Walt Disney stock opened at $110.31 on Monday. The stock has a market cap of $199.42 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 1.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $111.14 and a 200-day simple moving average of $101.90. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. On average, analysts expect that The Walt Disney Company will post 5.43 EPS for the current year.

Walt Disney Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were given 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 payout ratio is presently 32.57%.

Analysts Set New Price Targets

Several research analysts have issued reports on DIS shares. Macquarie restated a “neutral” rating and set a $110.00 target price on shares of Walt Disney in a research report on Monday, January 6th. Sanford C. Bernstein upped their price objective on Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Walt Disney in a research report on Wednesday, February 5th. Morgan Stanley upped their price target on shares of Walt Disney from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup reissued a “buy” rating and set a $125.00 price target on shares of Walt Disney in a research report on Wednesday, January 22nd. Six 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.85.

Insiders Place Their Bets

In related news, CEO Robert A. Iger sold 372,412 shares of the company’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 sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This represents a 62.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the sale, the executive vice president now owns 44,055 shares in the company, valued at approximately $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 have sold 385,412 shares of company stock worth $44,153,263 over the last ninety days. Corporate insiders own 0.16% 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.