Douglas Lane & Associates LLC Has $71.90 Million Stake in The Walt Disney Company (NYSE:DIS)

Douglas Lane & Associates LLC reduced its holdings in The Walt Disney Company (NYSE:DIS) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 645,738 shares of the entertainment giant’s stock after selling 14,468 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Walt Disney were worth $71,903,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its stake 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. lifted its position in shares of Walt Disney by 1.1% in 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 grew 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 purchasing an additional 10,230 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Walt Disney during the third quarter valued at approximately $14,079,000. Finally, Lmcg Investments LLC raised its stake in shares of 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 in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on DIS. Evercore ISI boosted their price target on shares of Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Raymond James restated a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. TD Cowen upped their price objective on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Rosenblatt Securities raised their target price on Walt Disney from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Bank of America upped their price target on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.54.

Walt Disney Trading Down 1.1 %

NYSE DIS traded down $1.24 during trading on Wednesday, reaching $110.15. 4,181,226 shares of the stock traded hands, compared to its average volume of 5,848,267. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The firm has a market cap of $199.47 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 2.05 and a beta of 1.43. The stock’s 50-day moving average price is $110.29 and its 200 day moving average price is $99.28.

Walt Disney (NYSE:DIS) last released its quarterly earnings data on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. The business had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. Walt Disney’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. Analysts predict that The Walt Disney Company will post 5.41 EPS for the current year.

Walt Disney Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. 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 is 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 the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the transaction, the chief executive officer now owns 226,767 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at $5,054,870.70. This represents a 15.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 385,412 shares of company stock valued at $44,153,263. Corporate insiders own 0.10% of the company’s stock.

Walt Disney 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.