Spinnaker Investment Group LLC Has $297,000 Stock Holdings in The Walt Disney Company (NYSE:DIS)

Spinnaker Investment Group LLC lowered its stake in The Walt Disney Company (NYSE:DIS) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Veracity Capital LLC boosted its holdings in shares of Walt Disney by 3.6% during the 4th quarter. Veracity Capital LLC now owns 4,764 shares of the entertainment giant’s stock valued at $530,000 after acquiring an additional 166 shares in the last quarter. Secure Asset Management LLC raised its position in Walt Disney by 24.4% in the fourth quarter. Secure Asset Management LLC now owns 5,020 shares of the entertainment giant’s stock valued at $559,000 after purchasing an additional 985 shares during the last quarter. Donoghue Forlines LLC acquired a new stake in shares of Walt Disney during the fourth quarter valued at about $2,076,000. Edge Financial Advisors LLC bought a new stake in shares of Walt Disney during the fourth quarter worth about $239,000. Finally, Trust Co. of Oklahoma increased its stake in shares of Walt Disney by 6.0% in the fourth quarter. Trust Co. of Oklahoma now owns 13,845 shares of the entertainment giant’s stock valued at $1,542,000 after buying an additional 785 shares during the period. Institutional investors own 65.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on DIS. Rosenblatt Securities boosted their target price on shares of Walt Disney from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Needham & Company LLC boosted their price objective on shares of Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Guggenheim increased their price objective on Walt Disney from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 15th. TD Cowen lifted their target price on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company increased their price target on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.52.

Walt Disney Price Performance

Shares of NYSE DIS opened at $111.02 on Friday. The firm has a market capitalization of $201.04 billion, a P/E ratio of 40.96, a P/E/G ratio of 1.94 and a beta of 1.43. The firm’s 50-day moving average price is $112.48 and its 200-day moving average price is $99.90. 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 1-year low of $83.91 and a 1-year high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, topping 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 business had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $22.49 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently announced 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 boost from Walt Disney’s previous semi-annual dividend of $0.45. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. Walt Disney’s dividend payout ratio (DPR) is currently 36.90%.

Insider Activity at Walt Disney

In other news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brent Woodford sold 5,000 shares of the business’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 sale, the executive vice president now directly owns 44,055 shares of the company’s stock, 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. In the last 90 days, insiders sold 385,412 shares of company stock valued at $44,153,263. 0.10% of the stock is owned by company insiders.

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.