CCM Investment Advisers LLC Lowers Holdings in The Walt Disney Company (NYSE:DIS)

CCM Investment Advisers LLC trimmed its stake in shares of The Walt Disney Company (NYSE:DIS) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,074 shares of the entertainment giant’s stock after selling 2,619 shares during the period. CCM Investment Advisers LLC’s holdings in Walt Disney were worth $10,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Farmers Trust Co. lifted its position in Walt Disney by 1.1% in the 4th quarter. Farmers Trust Co. now owns 8,483 shares of the entertainment giant’s stock valued at $945,000 after purchasing an additional 92 shares during the last quarter. Smithfield Trust Co raised its holdings in shares of Walt Disney by 0.5% during the third quarter. Smithfield Trust Co now owns 18,869 shares of the entertainment giant’s stock valued at $1,809,000 after buying an additional 102 shares during the last quarter. Drucker Wealth 3.0 LLC boosted its position in shares of Walt Disney by 0.9% during the third quarter. Drucker Wealth 3.0 LLC now owns 11,657 shares of the entertainment giant’s stock worth $1,121,000 after buying an additional 106 shares during the period. Connable Office Inc. grew its holdings in Walt Disney by 0.3% in the 3rd quarter. Connable Office Inc. now owns 35,048 shares of the entertainment giant’s stock worth $3,371,000 after buying an additional 108 shares in the last quarter. Finally, Cozad Asset Management Inc. raised its stake in Walt Disney by 1.9% during the 3rd quarter. Cozad Asset Management Inc. now owns 6,017 shares of the entertainment giant’s stock valued at $579,000 after acquiring an additional 110 shares in the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DIS has been the topic of several research analyst reports. Macquarie reissued a “neutral” rating and set a $110.00 target price on shares of Walt Disney in a research note on Monday. Needham & Company LLC lifted their target price on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 15th. TD Cowen lifted their target price on Walt Disney from $108.00 to $123.00 and gave the stock a “hold” rating in a report on Friday, November 15th. Evercore ISI lifted their target price on Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Jefferies Financial Group began coverage on Walt Disney in a research report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price for the company. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and an average price target of $125.54.

Insider Activity

In other Walt Disney news, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $113.62, for a total transaction of $568,100.00. Following the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,005,529.10. This represents a 10.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Iger sold 372,412 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the transaction, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 385,412 shares of company stock worth $44,153,263. Company insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

DIS traded down $1.26 on Friday, hitting $108.50. 3,358,153 shares of the stock traded hands, compared to its average volume of 6,048,914. The Walt Disney Company has a 52 week low of $83.91 and a 52 week high of $123.74. 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 market capitalization of $196.49 billion, a PE ratio of 40.04, a P/E/G ratio of 2.05 and a beta of 1.43. The business has a fifty day moving average price of $110.85 and a two-hundred day moving average price of $99.40.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that The Walt Disney Company will post 5.41 EPS for the current fiscal 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 paid a $0.50 dividend. This is a positive change 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 dividend payout ratio is currently 36.90%.

About Walt Disney

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.