Essex Financial Services Inc. Increases Position in The Walt Disney Company (NYSE:DIS)

Essex Financial Services Inc. grew its position in shares of The Walt Disney Company (NYSE:DIS) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,721 shares of the entertainment giant’s stock after purchasing an additional 566 shares during the period. Essex Financial Services Inc.’s holdings in Walt Disney were worth $3,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DIS. Retirement Planning Group LLC increased its stake in Walt Disney by 17.5% during the 3rd quarter. Retirement Planning Group LLC now owns 4,241 shares of the entertainment giant’s stock worth $408,000 after buying an additional 632 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Walt Disney by 38.3% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 2,591 shares of the entertainment giant’s stock worth $249,000 after acquiring an additional 718 shares in the last quarter. Smith Chas P & Associates PA Cpas increased its position in shares of Walt Disney by 2.9% during the third quarter. Smith Chas P & Associates PA Cpas now owns 5,476 shares of the entertainment giant’s stock worth $527,000 after acquiring an additional 156 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Walt Disney by 8.1% in the third quarter. Wedge Capital Management L L P NC now owns 3,615 shares of the entertainment giant’s stock valued at $348,000 after acquiring an additional 270 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in Walt Disney by 178.7% in the third quarter. Grove Bank & Trust now owns 16,844 shares of the entertainment giant’s stock valued at $1,620,000 after purchasing an additional 10,800 shares during the period. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

Shares of DIS stock opened at $109.23 on Tuesday. The stock’s 50-day moving average price is $111.87 and its 200 day moving average price is $101.26. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $197.47 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 1.95 and a beta of 1.42. The Walt Disney Company has a 52-week low of $83.91 and a 52-week high of $123.74.

Walt Disney (NYSE:DIS) last released its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. As a group, equities research analysts forecast that The Walt Disney Company will post 5.43 EPS for the current year.

Walt Disney Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is 32.57%.

Insider Activity

In related news, EVP Brent Woodford sold 5,000 shares of the firm’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 sale, the executive vice president now owns 44,055 shares in the company, valued at $5,005,529.10. This trade represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert A. Iger sold 372,412 shares of the business’s stock in a transaction that occurred 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 owns 226,767 shares in the company, valued at $25,980,695.19. The trade was a 62.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock valued at $44,153,263 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DIS. Citigroup reaffirmed a “buy” rating and issued a $125.00 price target on shares of Walt Disney in a research report on Wednesday, January 22nd. Redburn Atlantic raised shares of Walt Disney from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $147.00 in a report on Tuesday, January 7th. Bank of America boosted their price target on shares of Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group assumed coverage on shares of Walt Disney in a report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 price objective on the stock. Finally, Loop Capital boosted their target price on shares of Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.85.

Walt Disney Company 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.