CCM Investment Advisers LLC Sells 2,619 Shares of The Walt Disney Company (NYSE:DIS)

CCM Investment Advisers LLC lowered its position in The Walt Disney Company (NYSE:DIS) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. ST Germain D J Co. Inc. increased its position in shares of Walt Disney by 0.8% in the 4th quarter. ST Germain D J Co. Inc. now owns 38,796 shares of the entertainment giant’s stock valued at $4,320,000 after buying an additional 302 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Walt Disney by 39.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,514,810 shares of the entertainment giant’s stock worth $168,674,000 after purchasing an additional 425,012 shares in the last quarter. ORG Partners LLC increased its holdings in Walt Disney by 29.7% during the 4th quarter. ORG Partners LLC now owns 2,405 shares of the entertainment giant’s stock worth $268,000 after purchasing an additional 551 shares in the last quarter. Baker Tilly Wealth Management LLC increased its holdings in Walt Disney by 7.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,804 shares of the entertainment giant’s stock worth $1,648,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in Walt Disney by 4.9% during the 4th quarter. Fortitude Family Office LLC now owns 2,568 shares of the entertainment giant’s stock worth $286,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 65.71% of the company’s stock.

Walt Disney Price Performance

Shares of NYSE DIS traded down $1.26 during midday trading on Friday, reaching $108.50. 3,358,153 shares of the company were exchanged, compared to its average volume of 6,048,914. The stock’s 50-day moving average price is $110.85 and its 200-day moving average price is $99.40. The stock has a market cap of $196.49 billion, a P/E ratio of 40.04, a PEG ratio of 2.05 and a beta of 1.43. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37.

Walt Disney (NYSE:DIS) last issued its quarterly 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. The company had revenue of $22.57 billion for the quarter, compared to analyst estimates of $22.49 billion. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. Walt Disney’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, sell-side analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. The ex-dividend date of this dividend is Monday, December 16th. This represents a yield of 0.6%. Walt Disney’s payout ratio is presently 36.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Sanford C. Bernstein increased their target price on Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Raymond James restated a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $147.00 in a research note on Tuesday. Jefferies Financial Group assumed coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Walt Disney from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.54.

Insider Activity at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of the sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. The trade was a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total transaction of $917,920.00. Following the completion of the sale, the executive vice president now directly owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. This trade represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock worth $44,153,263 over the last quarter. Company insiders own 0.10% of the company’s stock.

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.