Patten Group Inc. Sells 366 Shares of The Walt Disney Company (NYSE:DIS)

Patten Group Inc. cut its holdings in shares of The Walt Disney Company (NYSE:DIS) by 9.3% during the 4th quarter, Holdings Channel reports. The firm owned 3,582 shares of the entertainment giant’s stock after selling 366 shares during the period. Patten Group Inc.’s holdings in Walt Disney were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Walt Disney by 0.6% during the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after purchasing an additional 490,681 shares during the period. Geode Capital Management LLC increased its holdings in shares of Walt Disney by 3.8% during the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after purchasing an additional 1,393,082 shares during the period. FMR LLC increased its holdings in shares of Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after purchasing an additional 2,765,389 shares during the period. Jennison Associates LLC increased its holdings in shares of Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock worth $2,137,637,000 after purchasing an additional 3,636,742 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Walt Disney by 15.5% during the fourth quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock worth $1,904,563,000 after purchasing an additional 2,300,912 shares during the period. 65.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction on 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DIS has been the topic of several recent research reports. TD Cowen raised their target price on shares of Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a report on Friday, November 15th. Guggenheim increased their price target 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. Loop Capital increased their price target on shares of Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on shares of Walt Disney in a research report on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Walt Disney from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.64.

Walt Disney Price Performance

Shares of NYSE:DIS opened at $108.87 on Wednesday. The firm has a market cap of $196.81 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.42. The firm’s fifty day moving average is $110.63 and its 200-day moving average is $103.80. 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 Walt Disney Company has a 52 week low of $83.91 and a 52 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 EPS for the quarter, topping 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%. Sell-side analysts predict that The Walt Disney Company will post 5.47 earnings per share for the current year.

Walt Disney Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, July 23rd. Investors of record on Tuesday, June 24th will be paid a dividend of $0.50 per share. This represents a yield of 0.6%. The ex-dividend date is Tuesday, June 24th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is currently 32.57%.

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.