Walt Disney Co (DIS) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC trimmed its holdings in Walt Disney Co (NYSE:DIS) by 87.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,337 shares of the entertainment giant’s stock after selling 22,920 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Walt Disney were worth $381,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DIS. Phocas Financial Corp. raised its holdings in shares of Walt Disney by 989,639.9% in the second quarter. Phocas Financial Corp. now owns 67,054,876 shares of the entertainment giant’s stock valued at $703,000 after buying an additional 67,048,101 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Walt Disney by 22.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,228,738 shares of the entertainment giant’s stock valued at $652,841,000 after buying an additional 1,129,743 shares during the last quarter. Ruffer LLP raised its holdings in shares of Walt Disney by 39.1% in the second quarter. Ruffer LLP now owns 3,977,520 shares of the entertainment giant’s stock valued at $417,261,000 after buying an additional 1,117,959 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Walt Disney by 10,630.8% in the second quarter. Cornerstone Wealth Management LLC now owns 1,022,536 shares of the entertainment giant’s stock valued at $9,705,000 after buying an additional 1,013,007 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Walt Disney by 112.1% in the second quarter. Renaissance Technologies LLC now owns 1,665,507 shares of the entertainment giant’s stock valued at $174,562,000 after buying an additional 880,100 shares during the last quarter. 62.99% of the stock is owned by institutional investors and hedge funds.

DIS has been the subject of several recent research reports. B. Riley dropped their price objective on Walt Disney from $123.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. Bank of America set a $144.00 price objective on Walt Disney and gave the stock a “buy” rating in a report on Wednesday, August 8th. BMO Capital Markets boosted their price objective on Walt Disney from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. Imperial Capital boosted their price objective on Walt Disney from $108.00 to $112.00 and gave the stock an “inline” rating in a report on Wednesday, August 8th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $140.00 price objective on shares of Walt Disney in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $122.39.

In other news, Chairman Robert A. Iger sold 47,733 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $120.00, for a total transaction of $5,727,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brent Woodford sold 961 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $117.06, for a total value of $112,494.66. Following the transaction, the executive vice president now owns 25,737 shares of the company’s stock, valued at $3,012,773.22. The disclosure for this sale can be found here. Insiders have sold a total of 77,886 shares of company stock valued at $9,284,819 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Shares of NYSE:DIS opened at $112.87 on Thursday. The stock has a market cap of $171.93 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.73 and a beta of 1.17. Walt Disney Co has a 1-year low of $97.68 and a 1-year high of $120.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.86.

Walt Disney (NYSE:DIS) last posted its earnings results on Thursday, November 8th. The entertainment giant reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.17. The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $13.76 billion. Walt Disney had a return on equity of 21.43% and a net margin of 21.20%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. As a group, sell-side analysts expect that Walt Disney Co will post 7.07 EPS for the current year.

The business also recently announced a semiannual dividend, which will be paid on Thursday, January 10th. Stockholders of record on Monday, December 10th will be given a dividend of $0.88 per share. This is a positive change from Walt Disney’s previous semiannual dividend of $0.84. This represents a dividend yield of 1.51%. The ex-dividend date is Friday, December 7th. Walt Disney’s payout ratio is presently 23.73%.

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Walt Disney Profile

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.

Further Reading: Hedge Funds

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Institutional Ownership by Quarter for Walt Disney (NYSE:DIS)

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