Sheets Smith Wealth Management Trims Position in The Walt Disney Company (NYSE:DIS)

Sheets Smith Wealth Management cut its stake in shares of The Walt Disney Company (NYSE:DIS) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,268 shares of the entertainment giant’s stock after selling 290 shares during the quarter. Sheets Smith Wealth Management’s holdings in Walt Disney were worth $566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Trian Fund Management L.P. lifted its position in shares of Walt Disney by 411.6% during the third quarter. Trian Fund Management L.P. now owns 32,868,307 shares of the entertainment giant’s stock valued at $2,663,976,000 after buying an additional 26,443,257 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in Walt Disney in the third quarter worth $326,171,000. International Assets Investment Management LLC increased its position in shares of Walt Disney by 8,681.3% during the fourth quarter. International Assets Investment Management LLC now owns 3,349,709 shares of the entertainment giant’s stock worth $302,445,000 after purchasing an additional 3,311,563 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Walt Disney by 21.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 14,416,343 shares of the entertainment giant’s stock worth $1,168,444,000 after purchasing an additional 2,505,486 shares in the last quarter. Finally, Northern Trust Corp increased its position in Walt Disney by 10.6% during the 3rd quarter. Northern Trust Corp now owns 24,859,476 shares of the entertainment giant’s stock valued at $2,014,861,000 after buying an additional 2,384,407 shares in the last quarter. Institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

DIS has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Walt Disney from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Tigress Financial restated a “buy” rating and issued a $136.00 target price on shares of Walt Disney in a research note on Wednesday, February 21st. Raymond James raised their price objective on Walt Disney from $112.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Loop Capital raised their target price on shares of Walt Disney from $113.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. Finally, UBS Group lifted their price objective on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $127.17.

Insider Activity

In other Walt Disney news, EVP Sonia L. Coleman sold 1,857 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $121.92, for a total value of $226,405.44. Following the completion of the sale, the executive vice president now owns 4,400 shares of the company’s stock, valued at $536,448. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

Shares of Walt Disney stock traded up $3.03 during trading on Monday, reaching $116.69. The company’s stock had a trading volume of 12,025,112 shares, compared to its average volume of 11,517,162. The firm has a market cap of $214.05 billion, a PE ratio of 71.93, a P/E/G ratio of 1.39 and a beta of 1.40. The company has a 50-day moving average price of $114.50 and a two-hundred day moving average price of $100.81. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The Walt Disney Company has a fifty-two week low of $78.73 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $23.71 billion. During the same period last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts forecast that The Walt Disney Company will post 4.7 EPS for the current year.

Walt Disney Cuts Dividend

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

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.