Strait & Sound Wealth Management LLC Reduces Stock Holdings in The Walt Disney Company (NYSE:DIS)

Strait & Sound Wealth Management LLC reduced its stake in shares of The Walt Disney Company (NYSE:DIS) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,131 shares of the entertainment giant’s stock after selling 854 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Walt Disney were worth $397,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DIS. State Street Corp boosted its position in shares of Walt Disney by 0.6% during the third 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Walt Disney by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock valued at $3,609,833,000 after buying an additional 1,393,082 shares in the last quarter. FMR LLC grew its position in shares of Walt Disney by 8.7% in the 3rd quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after buying an additional 2,765,389 shares during the period. Bank of New York Mellon Corp lifted its position in Walt Disney by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock valued at $1,477,831,000 after acquiring an additional 1,449,730 shares during the period. Finally, Legal & General Group Plc boosted its stake in Walt Disney by 3.1% during the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock worth $1,417,958,000 after acquiring an additional 425,438 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DIS. Sanford C. Bernstein lifted their target price on shares of Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Morgan Stanley boosted their target price on Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group began coverage on Walt Disney in a report on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target for the company. Raymond James reiterated a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Finally, Macquarie raised their price objective on shares of Walt Disney from $91.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.67.

Walt Disney Stock Performance

Shares of NYSE DIS opened at $114.64 on Tuesday. The Walt Disney Company has a 12-month low of $83.91 and a 12-month high of $123.74. The firm has a market capitalization of $207.61 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 2.09 and a beta of 1.42. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $103.07 and a 200 day moving average of $97.73.

Walt Disney (NYSE:DIS) last announced its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The company had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. During the same period last year, the firm earned $0.82 EPS. Walt Disney’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current year.

Walt Disney Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 16th will be given 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 of this dividend is Monday, December 16th. Walt Disney’s payout ratio is presently 36.90%.

Insider Buying and Selling

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brent Woodford sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares in the company, valued at $5,005,529.10. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

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.