Addenda Capital Inc. Has $7.61 Million Stock Position in The Walt Disney Company (NYSE:DIS)

by · The Markets Daily

Addenda Capital Inc. reduced its stake in The Walt Disney Company (NYSE:DIS – Free Report) by 40.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 68,081 shares of the entertainment giant’s stock after selling 45,333 shares during the period. Addenda Capital Inc.’s holdings in Walt Disney were worth $7,614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. William B. Walkup & Associates Inc. acquired a new position in Walt Disney in the second quarter valued at approximately $32,000. Friedenthal Financial acquired a new position in Walt Disney in the fourth quarter valued at approximately $49,000. First PREMIER Bank lifted its stake in Walt Disney by 98.1% in the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after buying an additional 256 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Walt Disney in the fourth quarter valued at approximately $50,000. Finally, FSA Wealth Management LLC acquired a new position in Walt Disney in the third quarter valued at approximately $51,000. 65.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on DIS shares. Morgan Stanley boosted their price objective on Walt Disney from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Wells Fargo & Company upped their target price on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Needham & Company LLC raised their price target on shares of Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Raymond James reiterated a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.54.

View Our Latest Stock Analysis on DIS

Insider Activity

In other Walt Disney news, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction dated 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 transaction, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,005,529.10. This trade represents a 10.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the chief executive officer now owns 226,767 shares in the company, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,412 shares of company stock worth $44,153,263. Insiders own 0.10% of the company’s stock.

Walt Disney Price Performance

NYSE:DIS opened at $107.07 on Tuesday. The Walt Disney Company has a 12 month low of $83.91 and a 12 month high of $123.74. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average is $112.08 and its 200 day moving average is $99.70. The company has a market capitalization of $193.90 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.94 and a beta of 1.43.

Walt Disney (NYSE:DIS – Get Free Report) last released its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast 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 disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio is currently 36.90%.

Walt Disney Profile

(Free Report)

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.

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