Spectrum Asset Management Inc. NB CA Trims Stake in The Walt Disney Company (NYSE:DIS)

Spectrum Asset Management Inc. NB CA decreased its stake in shares of The Walt Disney Company (NYSE:DIS) by 27.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,819 shares of the entertainment giant’s stock after selling 10,274 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Walt Disney were worth $2,999,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in DIS. State Street Corp increased its position in Walt Disney by 0.6% during the 3rd quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after purchasing an additional 490,681 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Walt Disney by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after purchasing an additional 1,393,082 shares during the last quarter. FMR LLC grew its holdings in shares of Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after buying an additional 2,765,389 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock valued at $2,137,637,000 after buying an additional 3,636,742 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Walt Disney by 3.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,850,678 shares of the entertainment giant’s stock worth $1,332,297,000 after acquiring an additional 454,678 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brent Woodford sold 8,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the sale, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,412 shares of company stock valued at $44,153,263. Company insiders own 0.16% of the company’s stock.

Walt Disney Stock Performance

Shares of DIS opened at $112.15 on Friday. The company has a 50-day moving average of $112.11 and a two-hundred day moving average of $100.99. The stock has a market cap of $202.82 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 2.02 and a beta of 1.42. 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 Walt Disney Company has a one year low of $83.91 and a one year high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. On average, equities research analysts expect that The Walt Disney Company will post 5.41 earnings per share for the current year.

Walt Disney Increases Dividend

The firm also recently declared 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 is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend was Monday, December 16th. This represents a dividend yield of 0.6%. Walt Disney’s payout ratio is currently 36.90%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DIS. Deutsche Bank Aktiengesellschaft increased their price target on Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company increased their target price on Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Rosenblatt Securities lifted their price target on Walt Disney from $122.00 to $135.00 and gave the company a “buy” rating in a report on Monday, December 16th. Morgan Stanley raised their target price on shares of Walt Disney from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Redburn Atlantic raised shares of Walt Disney from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $147.00 in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.85.

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.