State of Michigan Retirement System Sells 2,400 Shares of The Walt Disney Company (NYSE:DIS)

State of Michigan Retirement System trimmed its stake in shares of The Walt Disney Company (NYSE:DIS) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 491,466 shares of the entertainment giant’s stock after selling 2,400 shares during the quarter. State of Michigan Retirement System’s holdings in Walt Disney were worth $54,725,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in Walt Disney during the fourth quarter worth about $28,000. Tacita Capital Inc increased its holdings in Walt Disney by 93.2% in the 4th quarter. Tacita Capital Inc now owns 257 shares of the entertainment giant’s stock valued at $29,000 after buying an additional 124 shares during the period. Midwest Capital Advisors LLC bought a new position in Walt Disney in the 4th quarter valued at about $34,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Walt Disney during the 4th quarter worth approximately $35,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Walt Disney during the 4th quarter worth approximately $43,000. 65.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup reissued a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their price target on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Redburn Atlantic upgraded Walt Disney from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $147.00 in a research report on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Walt Disney in a research report on Wednesday, February 5th. Finally, Prescient Securities dropped their target price on shares of Walt Disney from $130.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.44.

Walt Disney Stock Performance

Shares of DIS stock opened at $112.69 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74. The business’s 50 day simple moving average is $110.70 and its 200 day simple moving average is $103.66. The stock has a market capitalization of $203.72 billion, a PE ratio of 36.71, a PEG ratio of 1.80 and a beta of 1.42.

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, topping 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, research analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current year.

Walt Disney Increases Dividend

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

Insider Activity at Walt Disney

In other Walt Disney news, EVP Brent Woodford sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,054,870.70. This represents a 15.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

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.