Grassi Investment Management Reduces Stock Holdings in The Walt Disney Company (NYSE:DIS)

Grassi Investment Management cut its position in shares of The Walt Disney Company (NYSE:DIS) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,315 shares of the entertainment giant’s stock after selling 100 shares during the period. Grassi Investment Management’s holdings in Walt Disney were worth $6,605,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its position in shares of Walt Disney by 8.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock valued at $6,420,000 after buying an additional 5,184 shares during the period. Charles Schwab Investment Management Inc. raised its position in Walt Disney by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock valued at $1,001,454,000 after purchasing an additional 114,701 shares during the period. Summit Global Investments lifted its stake in shares of Walt Disney by 476.0% in the 3rd quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock valued at $1,191,000 after purchasing an additional 10,230 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Walt Disney in the third quarter valued at about $14,079,000. Finally, Lmcg Investments LLC boosted its stake in Walt Disney by 18.6% during the third quarter. Lmcg Investments LLC now owns 147,353 shares of the entertainment giant’s stock worth $14,174,000 after buying an additional 23,116 shares during the period. 65.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DIS has been the topic of several recent analyst reports. Macquarie restated a “neutral” rating and issued a $110.00 price objective on shares of Walt Disney in a report on Monday, January 6th. Morgan Stanley upped their price target on Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Rosenblatt Securities raised their target price on Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $147.00 in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Walt Disney Stock Down 0.8 %

Shares of Walt Disney stock traded down $0.86 during trading hours on Monday, hitting $107.79. The company had a trading volume of 3,522,168 shares, compared to its average volume of 6,463,638. The company’s 50-day moving average is $111.11 and its two-hundred day moving average is $99.43. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market cap of $195.20 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 2.03 and a beta of 1.43.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same quarter last year, the company posted $0.82 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a yield of 0.6%. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is currently 36.90%.

Insider Activity

In related news, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the transaction, the chief executive officer now owns 226,767 shares in the company, valued at $25,980,695.19. The trade was a 62.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Brent Woodford sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total value of $568,100.00. Following the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,412 shares of company stock valued at $44,153,263. 0.10% of the stock is currently owned by company insiders.

Walt Disney Company 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.