Bay Harbor Wealth Management LLC Takes $35,000 Position in The Walt Disney Company (NYSE:DIS)

Bay Harbor Wealth Management LLC bought a new position in shares of The Walt Disney Company (NYSE:DIS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 314 shares of the entertainment giant’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC boosted its holdings in shares of Walt Disney by 8.4% in the third quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock valued at $6,420,000 after buying an additional 5,184 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Walt Disney by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock worth $1,001,454,000 after buying an additional 114,701 shares during the period. Brookstone Capital Management grew its holdings in shares of Walt Disney by 10.5% during the fourth quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock worth $15,687,000 after buying an additional 13,339 shares in the last quarter. Summit Global Investments raised its position in Walt Disney by 476.0% in the 3rd quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock valued at $1,191,000 after buying an additional 10,230 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in Walt Disney in the 4th quarter valued at approximately $15,125,000. 65.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on DIS. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $147.00 in a research note on Tuesday, January 7th. Jefferies Financial Group initiated coverage on Walt Disney in a research report on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC 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. Finally, Sanford C. Bernstein boosted their target price on shares of Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.52.

Insiders Place Their Bets

In other Walt Disney news, EVP Brent Woodford sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the sale, the executive vice president now owns 44,055 shares in the company, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the chief executive officer now owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,412 shares of company stock worth $44,153,263 over the last three months. Insiders own 0.16% of the company’s stock.

Walt Disney Price Performance

Shares of NYSE DIS opened at $114.36 on Tuesday. The business has a fifty day moving average price of $112.34 and a two-hundred day moving average price of $100.66. The stock has a market capitalization of $206.81 billion, a PE ratio of 42.19, a P/E/G ratio of 2.02 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.05. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The business had revenue of $22.57 billion during the quarter, compared to analysts’ expectations of $22.49 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. Walt Disney’s revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts predict 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 disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. The ex-dividend date was Monday, December 16th. Walt Disney’s payout ratio is currently 36.90%.

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.