The Walt Disney Company (NYSE:DIS) Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,112 shares of the entertainment giant’s stock after selling 347 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Walt Disney were worth $347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC increased its position in Walt Disney by 8.4% during the third quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock worth $6,420,000 after purchasing an additional 5,184 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Walt Disney by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock worth $1,001,454,000 after buying an additional 114,701 shares during the last quarter. Brookstone Capital Management boosted its holdings in Walt Disney by 10.5% in the fourth quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock valued at $15,687,000 after acquiring an additional 13,339 shares during the last quarter. 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 in the last quarter. Finally, Avanza Fonder AB purchased a new position in Walt Disney in the fourth quarter valued at approximately $15,125,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DIS. Wells Fargo & Company raised their target price on shares of Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America upped their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Sanford C. Bernstein lifted their target price on Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Morgan Stanley raised their price objective on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Walt Disney has an average rating of “Moderate Buy” and an average target price of $125.52.

Walt Disney Stock Performance

DIS stock opened at $113.18 on Tuesday. The company has a market capitalization of $204.97 billion, a P/E ratio of 41.76, a PEG ratio of 1.95 and a beta of 1.43. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $112.46 and a 200 day simple moving average of $100.11. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last released its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The firm had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. Walt Disney’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. Sell-side analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. This represents a yield of 0.6%. Walt Disney’s payout ratio is 36.90%.

Insider Activity

In other news, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the completion of the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,005,529.10. This represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert A. Iger sold 372,412 shares of Walt Disney 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 completion of the transaction, the chief executive officer now directly owns 226,767 shares in the company, valued at $25,980,695.19. This represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,412 shares of company stock worth $44,153,263. Insiders own 0.10% of the company’s stock.

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.