Cornercap Investment Counsel Inc. Sells 29,962 Shares of The Walt Disney Company (NYSE:DIS)

Cornercap Investment Counsel Inc. trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 92.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,394 shares of the entertainment giant’s stock after selling 29,962 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Walt Disney were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Waldron Private Wealth LLC raised its position in shares of Walt Disney by 21.1% during the fourth quarter. Waldron Private Wealth LLC now owns 12,739 shares of the entertainment giant’s stock valued at $1,154,000 after buying an additional 2,218 shares during the last quarter. Strs Ohio increased its position in shares of Walt Disney by 2.9% during the fourth quarter. Strs Ohio now owns 950,991 shares of the entertainment giant’s stock valued at $85,864,000 after purchasing an additional 26,692 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Walt Disney by 2.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 10,293 shares of the entertainment giant’s stock valued at $929,000 after purchasing an additional 242 shares in the last quarter. Glassy Mountain Advisors Inc. lifted its position in Walt Disney by 10.4% in the fourth quarter. Glassy Mountain Advisors Inc. now owns 27,551 shares of the entertainment giant’s stock worth $2,488,000 after purchasing an additional 2,601 shares during the period. Finally, Kooman & Associates boosted its stake in Walt Disney by 4.6% during the fourth quarter. Kooman & Associates now owns 3,544 shares of the entertainment giant’s stock worth $320,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on DIS shares. Tigress Financial restated a “buy” rating and set a $136.00 price target on shares of Walt Disney in a research note on Wednesday, February 21st. Evercore ISI boosted their price target on Walt Disney from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Barclays upgraded shares of Walt Disney from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $95.00 to $135.00 in a research note on Monday, March 25th. UBS Group increased their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Guggenheim upped their price objective 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Walt Disney currently has a consensus rating of “Moderate Buy” and an average price target of $124.54.

Insider Activity

In related news, EVP Sonia L. Coleman sold 1,857 shares of Walt Disney stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the transaction, the executive vice president now owns 4,400 shares of the company’s stock, valued at approximately $536,448. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Walt Disney Trading Down 0.8 %

Shares of NYSE DIS opened at $112.94 on Thursday. The Walt Disney Company has a fifty-two week low of $78.73 and a fifty-two week high of $123.74. The firm has a market capitalization of $207.17 billion, a P/E ratio of 69.72, a P/E/G ratio of 1.64 and a beta of 1.42. 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 company’s 50 day simple moving average is $113.86 and its 200 day simple moving average is $98.25.

Walt Disney (NYSE:DIS) last issued its earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 EPS for the quarter, beating the consensus estimate of $0.97 by $0.25. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The company had revenue of $23.50 billion during the quarter, compared to analysts’ expectations of $23.71 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts predict that The Walt Disney Company will post 4.66 EPS for the current year.

Walt Disney Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 8th will be issued a dividend of $0.45 per share. This represents a yield of 0.5%. The ex-dividend date is Monday, July 8th. Walt Disney’s dividend payout ratio (DPR) is currently 18.52%.

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.