Cornercap Investment Counsel Inc. Cuts Stake in The Walt Disney Company (NYSE:DIS)

Cornercap Investment Counsel Inc. cut its holdings in The Walt Disney Company (NYSE:DIS) by 92.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,394 shares of the entertainment giant’s stock after selling 29,962 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Walt Disney were worth $216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DIS. Compton Capital Management Inc. RI boosted its position in shares of Walt Disney by 0.5% during the first quarter. Compton Capital Management Inc. RI now owns 20,689 shares of the entertainment giant’s stock worth $2,838,000 after buying an additional 100 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings in Walt Disney by 2.9% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 3,575 shares of the entertainment giant’s stock valued at $490,000 after acquiring an additional 100 shares during the period. Linscomb & Williams Inc. grew its position in Walt Disney by 1.9% in the 1st quarter. Linscomb & Williams Inc. now owns 5,582 shares of the entertainment giant’s stock valued at $766,000 after acquiring an additional 106 shares in the last quarter. First Business Financial Services Inc. grew its position in Walt Disney by 0.7% in the 3rd quarter. First Business Financial Services Inc. now owns 16,514 shares of the entertainment giant’s stock valued at $1,338,000 after acquiring an additional 113 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in Walt Disney by 0.5% during the fourth quarter. CoreCap Advisors LLC now owns 24,096 shares of the entertainment giant’s stock worth $2,176,000 after purchasing an additional 118 shares during the period. 65.71% of the stock is owned by institutional investors.

Walt Disney Stock Performance

Shares of DIS opened at $112.94 on Thursday. The company’s 50 day simple moving average is $113.86 and its 200-day simple moving average is $98.25. The Walt Disney Company has a 12-month low of $78.73 and a 12-month high of $123.74. The firm has a market cap of $207.17 billion, a PE ratio of 69.72, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

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

Walt Disney Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 8th will be issued a $0.45 dividend. This represents a dividend yield of 0.5%. The ex-dividend date is Monday, July 8th. Walt Disney’s payout ratio is currently 18.52%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DIS. JPMorgan Chase & Co. began coverage on shares of Walt Disney in a research note on Thursday, April 11th. They set an “overweight” rating and a $140.00 target price on the stock. Daiwa Capital Markets reissued a “buy” rating and set a $133.00 target price on shares of Walt Disney in a research note on Monday, April 1st. Evercore ISI boosted their price objective on Walt Disney from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Tigress Financial reiterated a “buy” rating and set a $136.00 price target on shares of Walt Disney in a report on Wednesday, February 21st. Finally, Raymond James raised their price objective on shares of Walt Disney from $112.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.54.

Insider Transactions at Walt Disney

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

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.