Zullo Investment Group Inc. Sells 107 Shares of The Walt Disney Company (NYSE:DIS)

Zullo Investment Group Inc. reduced its position in shares of The Walt Disney Company (NYSE:DIS) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,011 shares of the entertainment giant’s stock after selling 107 shares during the period. Zullo Investment Group Inc.’s holdings in Walt Disney were worth $781,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC increased its position in shares of Walt Disney by 8.4% during the third quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock valued at $6,420,000 after acquiring an additional 5,184 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Walt Disney by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,411,205 shares of the entertainment giant’s stock valued at $1,001,454,000 after purchasing an additional 114,701 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Walt Disney by 10.5% during the 4th quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock worth $15,687,000 after purchasing an additional 13,339 shares during the period. Summit Global Investments boosted its holdings in shares of Walt Disney by 476.0% in the 3rd quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock worth $1,191,000 after buying an additional 10,230 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in Walt Disney during the fourth quarter valued at about $15,125,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore ISI lifted their price objective on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Morgan Stanley upped their price objective on Walt Disney from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Walt Disney in a research report on Wednesday, February 5th. Bank of America upped their price target on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Loop Capital lifted their price objective on Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.85.

Walt Disney Price Performance

Shares of NYSE DIS opened at $111.28 on Thursday. The firm has a market capitalization of $201.17 billion, a P/E ratio of 36.25, a P/E/G ratio of 1.79 and a beta of 1.42. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $110.88 and its two-hundred day simple moving average is $102.29. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. As a group, equities analysts anticipate that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Walt Disney Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. Walt Disney’s payout ratio is 32.57%.

Insider Activity at Walt Disney

In related news, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the transaction, the chief executive officer now owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brent Woodford sold 8,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was 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 $5,054,870.70. This represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

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.