State of Michigan Retirement System Sells 2,400 Shares of The Walt Disney Company (NYSE:DIS)

State of Michigan Retirement System lowered its position in The Walt Disney Company (NYSE:DIS) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 491,466 shares of the entertainment giant’s stock after selling 2,400 shares during the period. State of Michigan Retirement System’s holdings in Walt Disney were worth $54,725,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of Walt Disney in the 4th quarter worth $28,000. Tacita Capital Inc lifted its stake in shares of Walt Disney by 93.2% in the fourth quarter. Tacita Capital Inc now owns 257 shares of the entertainment giant’s stock valued at $29,000 after buying an additional 124 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Walt Disney in the fourth quarter valued at $34,000. Bay Harbor Wealth Management LLC bought a new position in shares of Walt Disney in the fourth quarter valued at $35,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Walt Disney during the fourth quarter worth about $43,000. Institutional investors own 65.71% of the company’s stock.

Analyst Ratings Changes

DIS has been the topic of several recent research reports. Wells Fargo & Company raised their price target on shares of Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group lifted their target price on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Jefferies Financial Group initiated coverage on Walt Disney in a research report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 price target for the company. Macquarie restated a “neutral” rating and set a $110.00 price target on shares of Walt Disney in a report on Monday, January 6th. Finally, Guggenheim upped their target price on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.44.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the sale, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Walt Disney Stock Performance

Shares of DIS opened at $112.69 on Tuesday. The firm has a market capitalization of $203.72 billion, a PE ratio of 36.71, 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. The company has a 50-day simple moving average of $110.70 and a two-hundred day simple moving average of $103.66. 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 issued its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. On average, analysts anticipate that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Walt Disney Increases Dividend

The company also recently disclosed 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. This represents a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. Walt Disney’s payout ratio is presently 32.57%.

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.