Asset Dedication LLC Sells 626 Shares of Walt Disney Company (The) (DIS)

Asset Dedication LLC cut its stake in Walt Disney Company (The) (NYSE:DIS) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,156 shares of the entertainment giant’s stock after selling 626 shares during the period. Asset Dedication LLC’s holdings in Walt Disney Company (The) were worth $1,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. bought a new position in Walt Disney Company (The) during the fourth quarter valued at about $110,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Walt Disney Company (The) by 7,240.3% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 128,089 shares of the entertainment giant’s stock valued at $128,000 after buying an additional 126,344 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Walt Disney Company (The) during the first quarter valued at about $144,000. Feltz Wealth PLAN Inc. bought a new position in Walt Disney Company (The) during the first quarter valued at about $173,000. Finally, Cordasco Financial Network increased its position in Walt Disney Company (The) by 2.4% in the first quarter. Cordasco Financial Network now owns 1,549 shares of the entertainment giant’s stock valued at $176,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Walt Disney Company (DIS) traded down 0.67% during midday trading on Friday, hitting $100.70. 6,893,916 shares of the stock were exchanged. The company has a market capitalization of $155.43 billion, a P/E ratio of 17.86 and a beta of 1.40. The company’s 50 day moving average is $105.49 and its 200 day moving average is $108.98. Walt Disney Company has a 1-year low of $90.32 and a 1-year high of $116.10.

Walt Disney Company (The) (NYSE:DIS) last posted its quarterly earnings results on Tuesday, August 8th. The entertainment giant reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.05. Walt Disney Company (The) had a return on equity of 19.69% and a net margin of 16.22%. The company had revenue of $14.24 billion for the quarter, compared to analysts’ expectations of $14.44 billion. During the same period in the previous year, the firm earned $1.62 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Analysts predict that Walt Disney Company will post $5.88 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, July 27th. Shareholders of record on Monday, July 10th were paid a $0.78 dividend. The ex-dividend date was Thursday, July 6th. Walt Disney Company (The)’s payout ratio is 27.56%.

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Several brokerages have recently weighed in on DIS. Bank of America Corporation set a $125.00 target price on shares of Walt Disney Company (The) and gave the company a “hold” rating in a research report on Saturday, June 24th. BMO Capital Markets restated an “underperform” rating and issued a $90.00 price target (down from $95.00) on shares of Walt Disney Company (The) in a research report on Thursday, August 10th. Guggenheim restated a “buy” rating and issued a $122.00 price target (down from $128.00) on shares of Walt Disney Company (The) in a research report on Wednesday, July 12th. Credit Suisse Group restated an “outperform” rating and issued a $125.00 price target on shares of Walt Disney Company (The) in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Walt Disney Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $115.16.

In other Walt Disney Company (The) news, Chairman Robert A. Iger sold 797,578 shares of Walt Disney Company (The) stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $105.09, for a total value of $83,817,472.02. Following the sale, the chairman now owns 1,566,484 shares of the company’s stock, valued at approximately $164,621,803.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Maria Elena Lagomasino acquired 976 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $102.34 per share, with a total value of $99,883.84. Following the acquisition, the director now owns 7,513 shares in the company, valued at $768,880.42. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.

About Walt Disney Company (The)

The Walt Disney Company is an entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations.

Institutional Ownership by Quarter for Walt Disney Company (The) (NYSE:DIS)

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