Conway Capital Management Inc. Makes New $223,000 Investment in The Walt Disney Company (NYSE:DIS)

Conway Capital Management Inc. purchased a new position in shares of The Walt Disney Company (NYSE:DIS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,316 shares of the entertainment giant’s stock, valued at approximately $223,000.

Other hedge funds have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its position in Walt Disney by 8.4% during the third quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock worth $6,420,000 after buying an additional 5,184 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Walt Disney by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock worth $1,001,454,000 after acquiring an additional 114,701 shares during the period. Summit Global Investments lifted its holdings in shares of Walt Disney by 476.0% during the 3rd quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock worth $1,191,000 after acquiring an additional 10,230 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Walt Disney in the third quarter worth approximately $14,079,000. Finally, Lmcg Investments LLC grew its holdings in Walt Disney by 18.6% in the third quarter. Lmcg Investments LLC now owns 147,353 shares of the entertainment giant’s stock valued at $14,174,000 after purchasing an additional 23,116 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Trading Down 1.8 %

NYSE:DIS opened at $114.64 on Tuesday. The stock has a market cap of $207.61 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 2.09 and a beta of 1.42. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73. The business’s 50-day simple moving average is $103.07 and its 200 day simple moving average is $97.73.

Walt Disney (NYSE:DIS) last announced its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same period in the prior year, the company posted $0.82 EPS. Walt Disney’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.50 per share. 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 is Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group began coverage on Walt Disney in a report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company lifted their price objective on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Raymond James reissued a “market perform” rating on shares of Walt Disney in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Walt Disney has an average rating of “Moderate Buy” and an average price target of $123.67.

Insider Transactions at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the firm’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 transaction, the chief executive officer now directly owns 226,767 shares in the company, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.