Petredis Investment Advisors LLC Sells 628 Shares of The Walt Disney Company (NYSE:DIS)

Petredis Investment Advisors LLC trimmed its position in The Walt Disney Company (NYSE:DIS) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,868 shares of the entertainment giant’s stock after selling 628 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Walt Disney were worth $2,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DIS. Concurrent Investment Advisors LLC grew its stake in shares of 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 buying an additional 5,184 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 114,701 shares during the period. Brookstone Capital Management lifted 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 buying an additional 13,339 shares during the period. Summit Global Investments lifted its holdings in Walt Disney by 476.0% in the third quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock valued at $1,191,000 after buying an additional 10,230 shares during the period. Finally, Avanza Fonder AB acquired a new position in shares of Walt Disney during the fourth quarter valued at about $15,125,000. 65.71% of the stock is owned by institutional investors.

Walt Disney Price Performance

DIS opened at $112.25 on Friday. 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 stock has a market capitalization of $203.28 billion, a P/E ratio of 41.42, a price-to-earnings-growth ratio of 1.95 and a beta of 1.43. The company’s 50 day simple moving average is $112.52 and its 200-day simple moving average is $99.98. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74.

Walt Disney (NYSE:DIS) last announced its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping 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 business had revenue of $22.57 billion during the quarter, compared to analysts’ expectations of $22.49 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate 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 announced a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a yield of 0.6%. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. Walt Disney’s payout ratio is presently 36.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DIS. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, November 15th. Morgan Stanley boosted their target price on shares of Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America boosted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Guggenheim boosted their target price on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.52.

Insiders Place Their Bets

In other Walt Disney news, 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 sale, the chief executive officer now owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brent Woodford sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total value of $568,100.00. Following the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $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. Insiders sold 385,412 shares of company stock worth $44,153,263 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

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.