Kennon Green & Company LLC Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Kennon Green & Company LLC lowered its stake in The Walt Disney Company (NYSE:DIS) by 7.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,620 shares of the entertainment giant’s stock after selling 2,851 shares during the period. Walt Disney accounts for approximately 3.4% of Kennon Green & Company LLC’s holdings, making the stock its 9th largest holding. Kennon Green & Company LLC’s holdings in Walt Disney were worth $3,306,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Naviter Wealth LLC raised its stake in Walt Disney by 25.3% in the 4th quarter. Naviter Wealth LLC now owns 14,784 shares of the entertainment giant’s stock worth $1,339,000 after purchasing an additional 2,982 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of Walt Disney in the fourth quarter valued at approximately $220,000. Choreo LLC boosted its stake in shares of Walt Disney by 39.1% in the fourth quarter. Choreo LLC now owns 47,408 shares of the entertainment giant’s stock valued at $4,295,000 after buying an additional 13,318 shares during the period. Bridgewealth Advisory Group LLC grew its position in Walt Disney by 12.9% during the fourth quarter. Bridgewealth Advisory Group LLC now owns 4,376 shares of the entertainment giant’s stock worth $395,000 after buying an additional 500 shares in the last quarter. Finally, Eagle Wealth Strategies LLC acquired a new position in Walt Disney in the 4th quarter valued at $281,000. 65.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Walt Disney

In related news, EVP Sonia L. Coleman sold 1,857 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the sale, the executive vice president now owns 4,400 shares of the company’s stock, valued at $536,448. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Macquarie lifted their price target on shares of Walt Disney from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Daiwa Capital Markets restated a “buy” rating and issued a $133.00 price target on shares of Walt Disney in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on Walt Disney from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Rosenblatt Securities boosted their price target on shares of Walt Disney from $129.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Argus raised their target price on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.08.

Walt Disney Stock Performance

NYSE:DIS traded down $0.60 on Monday, hitting $112.13. The stock had a trading volume of 3,194,606 shares, compared to its average volume of 11,678,550. The Walt Disney Company has a 52-week low of $78.73 and a 52-week high of $123.74. The stock has a market cap of $205.68 billion, a price-to-earnings ratio of 69.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39. The business’s 50-day simple moving average is $114.18 and its two-hundred day simple moving average is $99.86.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Tuesday, February 6th. The entertainment giant reported $1.22 EPS for the quarter, topping the consensus estimate of $0.97 by $0.25. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The firm had revenue of $23.50 billion for the quarter, compared to the consensus estimate of $23.71 billion. During the same quarter last year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts predict that The Walt Disney Company will post 4.66 earnings per share for the current year.

Walt Disney Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a dividend yield of 0.5%. Walt Disney’s payout ratio is 55.56%.

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.