Red Wave Investments LLC Makes New Investment in The Walt Disney Company (NYSE:DIS)

Red Wave Investments LLC acquired a new stake in shares of The Walt Disney Company (NYSE:DIS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,863 shares of the entertainment giant’s stock, valued at approximately $207,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Walt Disney by 0.6% during the 3rd quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock valued at $7,463,978,000 after purchasing an additional 490,681 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Walt Disney by 3.8% in the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock valued at $3,609,833,000 after purchasing an additional 1,393,082 shares in the last quarter. FMR LLC boosted its position in shares of Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after buying an additional 2,765,389 shares during the last quarter. Jennison Associates LLC grew its holdings in Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock worth $2,137,637,000 after buying an additional 3,636,742 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Walt Disney by 3.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,850,678 shares of the entertainment giant’s stock worth $1,332,297,000 after buying an additional 454,678 shares in the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Stock Down 1.7 %

Walt Disney stock opened at $108.62 on Friday. The firm has a 50 day simple moving average of $110.70 and a 200 day simple moving average of $102.39. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74. The firm has a market capitalization of $196.37 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 1.81 and a beta of 1.42.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. On average, analysts predict that The Walt Disney Company will post 5.47 earnings per share for the current year.

Walt Disney Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a dividend yield of 0.6%. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. Walt Disney’s dividend payout ratio is presently 32.57%.

Insider Activity

In other Walt Disney news, EVP Brent Woodford sold 8,000 shares of the 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 directly owns 44,055 shares in the company, valued at $5,054,870.70. This represents a 15.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on DIS. Loop Capital lifted their price objective on shares of Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of Walt Disney in a report on Wednesday, February 5th. Citigroup reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a research report on Wednesday, January 22nd. Jefferies Financial Group initiated coverage on shares of Walt Disney in a research report on Wednesday, December 4th. They set a “hold” rating and a $120.00 target price on the stock. Finally, Redburn Atlantic raised Walt Disney from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $147.00 in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and an average target price of $125.44.

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.