Financial Management Network Inc. Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Financial Management Network Inc. lessened its holdings in The Walt Disney Company (NYSE:DIS) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,283 shares of the entertainment giant’s stock after selling 253 shares during the quarter. Financial Management Network Inc.’s holdings in Walt Disney were worth $476,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DIS. Bay Harbor Wealth Management LLC purchased a new position in shares of Walt Disney in the 4th quarter valued at $35,000. Hager Investment Management Services LLC purchased a new position in shares of Walt Disney in the 4th quarter valued at $43,000. Cedar Mountain Advisors LLC raised its stake in shares of Walt Disney by 38.1% in the 4th 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 purchased a new position in shares of Walt Disney in the 4th quarter valued at $49,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Walt Disney during the 4th quarter worth $50,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Activity at Walt Disney

In related news, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of Walt Disney 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 in the company, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DIS. Loop Capital lifted their price target on shares of Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Bank of America lifted their price target on shares of Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Guggenheim lifted their price target on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company lifted their price target on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given 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 $125.85.

Walt Disney Trading Down 0.8 %

NYSE DIS opened at $109.48 on Wednesday. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74. The company has a 50-day simple moving average of $110.95 and a 200-day simple moving average of $102.13. 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 firm has a market capitalization of $197.91 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 1.79 and a beta of 1.42.

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

Walt Disney Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio (DPR) is currently 32.57%.

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.