Granite Group Advisors LLC Has $75.42 Million Stake in The Walt Disney Company (NYSE:DIS)

Granite Group Advisors LLC cut its holdings in shares of The Walt Disney Company (NYSE:DIS) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 677,335 shares of the entertainment giant’s stock after selling 62,500 shares during the period. Walt Disney makes up 48.1% of Granite Group Advisors LLC’s holdings, making the stock its biggest holding. Granite Group Advisors LLC’s holdings in Walt Disney were worth $75,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC boosted its holdings 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. boosted its holdings in Walt Disney by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock worth $1,001,454,000 after purchasing an additional 114,701 shares during the last quarter. Brookstone Capital Management boosted its holdings in Walt Disney by 10.5% during the fourth quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock worth $15,687,000 after purchasing an additional 13,339 shares during the last quarter. Summit Global Investments boosted its stake 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 acquiring an additional 10,230 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in Walt Disney in the fourth quarter valued at about $15,125,000. 65.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total transaction of $568,100.00. Following the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the completion of the sale, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,412 shares of company stock worth $44,153,263. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Bank of America boosted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Macquarie restated a “neutral” rating and set a $110.00 price target on shares of Walt Disney in a research note on Monday, January 6th. Raymond James restated a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Finally, Citigroup restated a “buy” rating and set a $125.00 price target on shares of Walt Disney in a research note on Wednesday, January 22nd. Five investment 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. According to data from MarketBeat, Walt Disney currently has an average rating of “Moderate Buy” and an average price target of $125.52.

Walt Disney Stock Performance

DIS opened at $112.25 on Monday. 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 company has a market cap of $203.28 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 1.95 and a beta of 1.43. The company’s 50 day moving average is $112.46 and its 200 day moving average is $100.08. The Walt Disney Company has a 12-month low of $83.91 and a 12-month high of $123.74.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The business had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. 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 dividend yield of 0.6%. Walt Disney’s dividend payout ratio is currently 36.90%.

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.