Convergence Financial LLC Reduces Holdings in The Walt Disney Company (NYSE:DIS)

Convergence Financial LLC lowered its holdings in The Walt Disney Company (NYSE:DIS) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,840 shares of the entertainment giant’s stock after selling 130 shares during the period. Convergence Financial LLC’s holdings in Walt Disney were worth $650,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DIS. Concurrent Investment Advisors LLC raised its position in shares of Walt Disney by 8.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock worth $6,420,000 after purchasing an additional 5,184 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in 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 in the last quarter. Brookstone Capital Management raised its position 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 purchasing an additional 13,339 shares during the period. Summit Global Investments boosted its holdings in shares of Walt Disney by 476.0% in the third quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock worth $1,191,000 after buying an additional 10,230 shares during the period. Finally, Greystone Financial Group LLC grew its position in Walt Disney by 13.3% during the 4th quarter. Greystone Financial Group LLC now owns 85,187 shares of the entertainment giant’s stock worth $9,486,000 after purchasing an additional 9,967 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the transaction, the executive vice president now owns 44,055 shares in the company, valued at approximately $5,054,870.70. The trade was a 15.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Walt Disney Stock Performance

NYSE DIS opened at $111.82 on Thursday. The stock has a market capitalization of $202.14 billion, a PE ratio of 36.42, a P/E/G ratio of 1.80 and a beta of 1.42. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The company’s 50 day simple moving average is $110.64 and its two-hundred day simple moving average is $103.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. Analysts predict that The Walt Disney Company will post 5.47 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. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date was Monday, December 16th. This represents a yield of 0.6%. Walt Disney’s dividend payout ratio is currently 32.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup restated a “buy” rating and set a $125.00 price target on shares of Walt Disney in a report on Wednesday, January 22nd. The Goldman Sachs Group raised their target price on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Walt Disney from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley boosted their price target on shares of Walt Disney from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, 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 target price for the company. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.44.

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.