Spinnaker Investment Group LLC Sells 255 Shares of The Walt Disney Company (NYSE:DIS)

Spinnaker Investment Group LLC lessened its position in shares of The Walt Disney Company (NYSE:DIS) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,667 shares of the entertainment giant’s stock after selling 255 shares during the period. Spinnaker Investment Group LLC’s holdings in Walt Disney were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new stake in Walt Disney in the 2nd quarter valued at $32,000. Friedenthal Financial acquired a new stake in shares of Walt Disney in the fourth quarter valued at about $49,000. Retirement Wealth Solutions LLC bought a new stake in Walt Disney during the fourth quarter worth about $50,000. Birch Capital Management LLC acquired a new position in Walt Disney during the fourth quarter valued at approximately $56,000. Finally, First PREMIER Bank grew its stake in Walt Disney by 98.1% in the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DIS shares. Wells Fargo & Company increased their price objective on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Sanford C. Bernstein increased their price target on shares of Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Citigroup reissued a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a research report on Wednesday. TD Cowen upped their target price on shares of Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a report on Friday, November 15th. Finally, Piper Sandler began coverage on Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price target for the company. Five investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.52.

Walt Disney Stock Up 2.0 %

Shares of DIS opened at $111.02 on Friday. 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 Walt Disney Company has a 12 month low of $83.91 and a 12 month high of $123.74. The firm’s 50 day moving average is $112.48 and its 200-day moving average is $99.90. The stock has a market capitalization of $201.04 billion, a PE ratio of 40.96, a P/E/G ratio of 1.94 and a beta of 1.43.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The firm had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. Equities research analysts forecast that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a yield of 0.6%. The ex-dividend date was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s payout ratio is 36.90%.

Insiders Place Their Bets

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the completion of the sale, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,412 shares of company stock worth $44,153,263 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

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.