Lorne Steinberg Wealth Management Inc. Lowers Stake in The Walt Disney Company (NYSE:DIS)

Lorne Steinberg Wealth Management Inc. trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 63,689 shares of the entertainment giant’s stock after selling 865 shares during the period. Walt Disney accounts for approximately 1.9% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 23rd largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Walt Disney were worth $5,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DIS. Planned Solutions Inc. acquired a new position in shares of Walt Disney in the fourth quarter valued at approximately $26,000. Fortis Group Advisors LLC purchased a new stake in shares of Walt Disney in the third quarter valued at about $30,000. Stone House Investment Management LLC raised its holdings in Walt Disney by 355.3% during the fourth quarter. Stone House Investment Management LLC now owns 346 shares of the entertainment giant’s stock worth $31,000 after purchasing an additional 270 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Walt Disney in the 3rd quarter valued at approximately $35,000. Finally, Harvest Fund Management Co. Ltd raised its position in Walt Disney by 15,900.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 480 shares of the entertainment giant’s stock worth $39,000 after acquiring an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Buying and Selling at Walt Disney

In other news, EVP Sonia L. Coleman sold 1,857 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the transaction, the executive vice president now owns 4,400 shares of the company’s stock, valued at $536,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DIS. UBS Group raised their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Macquarie boosted their price target on Walt Disney from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Tigress Financial reaffirmed a “buy” rating and set a $136.00 price objective on shares of Walt Disney in a report on Wednesday, February 21st. Argus raised their target price on shares of Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Walt Disney from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Walt Disney has an average rating of “Moderate Buy” and an average price target of $125.08.

Walt Disney Stock Down 0.1 %

Shares of NYSE DIS traded down $0.12 during trading on Wednesday, reaching $113.59. 3,039,088 shares of the stock were exchanged, compared to its average volume of 11,859,621. The business’s 50-day moving average price is $114.10 and its 200 day moving average price is $99.27. The company has a market capitalization of $208.36 billion, a price-to-earnings ratio of 70.10, a price-to-earnings-growth ratio of 1.38 and a beta of 1.42. The Walt Disney Company has a twelve month low of $78.73 and a twelve month high of $123.74. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39.

Walt Disney (NYSE:DIS) last announced its earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.25. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The company had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $23.71 billion. During the same period last year, the firm earned $0.99 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast that The Walt Disney Company will post 4.66 EPS for the current fiscal year.

Walt Disney Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a dividend yield of 0.5%. Walt Disney’s dividend payout ratio (DPR) is presently 18.52%.

Walt Disney 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.