Bank of New York Mellon Corp Acquires 2,300,912 Shares of The Walt Disney Company (NYSE:DIS)

Bank of New York Mellon Corp lifted its holdings in shares of The Walt Disney Company (NYSE:DIS) by 15.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,104,295 shares of the entertainment giant’s stock after purchasing an additional 2,300,912 shares during the quarter. Bank of New York Mellon Corp’s holdings in Walt Disney were worth $1,904,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in DIS. FPC Investment Advisory Inc. acquired a new position in shares of Walt Disney in the fourth quarter valued at $28,000. Midwest Capital Advisors LLC acquired a new stake in shares of Walt Disney during the 4th quarter worth about $34,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Walt Disney during the 4th quarter worth about $35,000. Hager Investment Management Services LLC bought a new position in Walt Disney in the 4th quarter valued at about $43,000. Finally, Cedar Mountain Advisors LLC lifted its position in Walt Disney by 38.1% during the fourth quarter. Cedar Mountain Advisors LLC now owns 399 shares of the entertainment giant’s stock worth $44,000 after acquiring an additional 110 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DIS. Citigroup reaffirmed a “buy” rating and issued a $125.00 target price on shares of Walt Disney in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their price objective on Walt Disney from $116.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Rosenblatt Securities reissued a “buy” rating and set a $135.00 target price on shares of Walt Disney in a report on Monday, February 10th. Jefferies Financial Group assumed coverage on shares of Walt Disney in a research report on Wednesday, December 4th. They issued a “hold” rating and a $120.00 target price for the company. Finally, Prescient Securities lowered their price target on shares of Walt Disney from $130.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, eighteen have issued 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 $125.44.

Walt Disney Price Performance

Shares of DIS stock opened at $111.18 on Tuesday. The business has a fifty day simple moving average of $110.68 and a 200 day simple moving average of $102.75. The company has a market cap of $200.99 billion, a P/E ratio of 36.22, a P/E/G ratio of 1.80 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 Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 EPS 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%. On average, sell-side analysts forecast 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. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a yield of 0.6%. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio (DPR) is currently 32.57%.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 8,000 shares of the firm’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 sale, the executive vice president now owns 44,055 shares of the company’s stock, valued at $5,054,870.70. This trade represents a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.16% 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.