Carret Asset Management LLC Cuts Stake in The Walt Disney Company (NYSE:DIS)

Carret Asset Management LLC reduced its holdings in shares of The Walt Disney Company (NYSE:DIS) by 1.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 71,192 shares of the entertainment giant’s stock after selling 972 shares during the period. Walt Disney accounts for about 0.8% of Carret Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding. Carret Asset Management LLC’s holdings in Walt Disney were worth $6,428,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DIS. Planned Solutions Inc. purchased a new stake in shares of Walt Disney in the 4th quarter valued at approximately $26,000. Fortis Group Advisors LLC purchased a new position in shares of Walt Disney in the 3rd quarter valued at $30,000. Stone House Investment Management LLC grew its position in shares of Walt Disney by 355.3% in the 4th quarter. Stone House Investment Management LLC now owns 346 shares of the entertainment giant’s stock valued at $31,000 after buying an additional 270 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Walt Disney in the 3rd quarter valued at $35,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Walt Disney by 15,900.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 480 shares of the entertainment giant’s stock valued at $39,000 after buying an additional 477 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

Shares of DIS stock traded up $0.24 during mid-day trading on Wednesday, hitting $113.95. The stock had a trading volume of 6,149,590 shares, compared to its average volume of 11,901,535. The company’s 50-day simple moving average is $114.10 and its 200-day simple moving average is $99.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.84 and a quick ratio of 0.77. The firm has a market cap of $209.02 billion, a PE ratio of 70.10, a PEG ratio of 1.38 and a beta of 1.42. The Walt Disney Company has a fifty-two week low of $78.73 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.25. The business had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $23.71 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 EPS. Sell-side analysts anticipate that The Walt Disney Company will post 4.66 earnings per share for the current year.

Walt Disney Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 8th will be issued a $0.45 dividend. The ex-dividend date is Monday, July 8th. This represents a dividend yield of 0.5%. Walt Disney’s dividend payout ratio is presently 18.52%.

Insider Activity

In other news, EVP Sonia L. Coleman sold 1,857 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $121.92, for a total value of $226,405.44. Following the completion of the transaction, the executive vice president now owns 4,400 shares in the company, valued at approximately $536,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on DIS shares. Macquarie increased their target price on shares of Walt Disney from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Needham & Company LLC increased their target price on shares of Walt Disney from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Bank of America increased their target price on shares of Walt Disney from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Rosenblatt Securities increased their price target on shares of Walt Disney from $129.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Guggenheim increased their price target on shares of Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Walt Disney currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.08.

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.