Cary Street Partners Investment Advisory LLC Reduces Stock Holdings in The Walt Disney Company (NYSE:DIS)

Cary Street Partners Investment Advisory LLC decreased its holdings in The Walt Disney Company (NYSE:DIS) by 89.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,179 shares of the entertainment giant’s stock after selling 108,011 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Walt Disney were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Penobscot Investment Management Company Inc. lifted its position in Walt Disney by 6.8% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 29,579 shares of the entertainment giant’s stock valued at $2,671,000 after buying an additional 1,896 shares during the period. Kestra Private Wealth Services LLC lifted its position in Walt Disney by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 108,550 shares of the entertainment giant’s stock valued at $9,801,000 after buying an additional 6,986 shares during the period. Van ECK Associates Corp lifted its position in Walt Disney by 7.7% during the fourth quarter. Van ECK Associates Corp now owns 3,808,061 shares of the entertainment giant’s stock valued at $343,830,000 after buying an additional 272,591 shares during the period. Intrust Bank NA lifted its position in Walt Disney by 27.4% during the fourth quarter. Intrust Bank NA now owns 10,671 shares of the entertainment giant’s stock valued at $963,000 after buying an additional 2,296 shares during the period. Finally, Orca Investment Management LLC lifted its position in Walt Disney by 8.4% during the fourth quarter. Orca Investment Management LLC now owns 4,662 shares of the entertainment giant’s stock valued at $421,000 after buying an additional 363 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Down 0.9 %

DIS stock opened at $111.11 on Wednesday. The Walt Disney Company has a twelve month low of $78.73 and a twelve month high of $123.74. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39. The stock has a market cap of $203.80 billion, a P/E ratio of 68.58, a PEG ratio of 1.37 and a beta of 1.42. The business’s 50-day moving average price is $114.22 and its 200-day moving average price is $100.25.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.25. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The firm had revenue of $23.50 billion for the quarter, compared to analysts’ expectations of $23.71 billion. During the same period in the previous year, the firm earned $0.99 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that The Walt Disney Company will post 4.67 EPS for the current year.

Walt Disney Cuts Dividend

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

Insider Activity

In related news, EVP Sonia L. Coleman sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $121.92, for a total value of $226,405.44. Following the transaction, the executive vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $536,448. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DIS shares. Raymond James raised their price target on Walt Disney from $112.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Wells Fargo & Company raised their price target on Walt Disney from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Needham & Company LLC raised their price target on Walt Disney from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Daiwa Capital Markets restated a “buy” rating and set a $133.00 price target on shares of Walt Disney in a report on Monday, April 1st. Finally, Guggenheim raised their price target on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.08.

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.