1,905 Shares in The Walt Disney Company (NYSE:DIS) Bought by Summit Asset Management LLC

Summit Asset Management LLC bought a new position in The Walt Disney Company (NYSE:DIS) during the fourth quarter, HoldingsChannel reports. The fund bought 1,905 shares of the entertainment giant’s stock, valued at approximately $212,000.

Other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its holdings in Walt Disney by 8.4% in the 3rd 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 period. Charles Schwab Investment Management Inc. raised 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 valued at $1,001,454,000 after acquiring an additional 114,701 shares during the period. Brookstone Capital Management raised 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 valued at $15,687,000 after acquiring an additional 13,339 shares during the period. Summit Global Investments raised its holdings in Walt Disney by 476.0% during 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 period. Finally, Avanza Fonder AB bought a new stake in Walt Disney during the fourth quarter valued at about $15,125,000. 65.71% of the stock is owned by institutional investors.

Walt Disney Stock Down 1.7 %

Shares of NYSE:DIS opened at $108.62 on Friday. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The business has a 50 day simple moving average of $110.70 and a two-hundred day simple moving average of $102.49. The firm has a market capitalization of $196.37 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. On average, equities analysts predict that The Walt Disney Company will post 5.47 EPS for the current year.

Walt Disney Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This is a positive change 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 presently 32.57%.

Analyst Ratings Changes

A number of equities research analysts have commented on DIS shares. Evercore ISI raised their price target on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Redburn Atlantic raised Walt Disney from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $147.00 in a report on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Walt Disney in a report on Wednesday, February 5th. The Goldman Sachs Group raised their price target on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their target price on Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.44.

Insider Activity at Walt Disney

In related news, EVP Brent Woodford sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the sale, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

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.