Kennon Green & Company LLC Reduces Holdings in The Walt Disney Company (NYSE:DIS)

Kennon Green & Company LLC cut its holdings in The Walt Disney Company (NYSE:DIS) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,620 shares of the entertainment giant’s stock after selling 2,851 shares during the quarter. Walt Disney makes up about 3.4% of Kennon Green & Company LLC’s investment portfolio, making the stock its 9th largest position. Kennon Green & Company LLC’s holdings in Walt Disney were worth $3,306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Walt Disney by 0.7% during the third quarter. Vanguard Group Inc. now owns 149,887,754 shares of the entertainment giant’s stock worth $12,148,402,000 after buying an additional 994,575 shares during the period. Morgan Stanley grew its holdings in shares of Walt Disney by 0.4% during the third quarter. Morgan Stanley now owns 44,318,444 shares of the entertainment giant’s stock worth $3,592,010,000 after buying an additional 195,512 shares during the last quarter. Trian Fund Management L.P. lifted its position in Walt Disney by 411.6% during the 3rd quarter. Trian Fund Management L.P. now owns 32,868,307 shares of the entertainment giant’s stock worth $2,663,976,000 after acquiring an additional 26,443,257 shares during the period. Northern Trust Corp increased its stake in Walt Disney by 10.6% in the 3rd quarter. Northern Trust Corp now owns 24,859,476 shares of the entertainment giant’s stock valued at $2,014,861,000 after buying an additional 2,384,407 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Walt Disney by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 20,776,815 shares of the entertainment giant’s stock worth $1,683,961,000 after acquiring an additional 217,567 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Performance

DIS traded down $0.60 during midday trading on Monday, hitting $112.13. 3,194,606 shares of the company traded hands, compared to its average volume of 11,678,550. The firm has a market capitalization of $205.68 billion, a PE ratio of 69.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The Walt Disney Company has a 52 week low of $78.73 and a 52 week high of $123.74. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average is $114.18 and its 200 day moving average is $99.86.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.25. The company had revenue of $23.50 billion during the quarter, compared to analyst estimates of $23.71 billion. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 earnings per share. On average, research analysts expect that The Walt Disney Company will post 4.66 EPS for the current year.

Walt Disney Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be given a $0.45 dividend. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, July 8th. Walt Disney’s payout ratio is 55.56%.

Insiders Place Their Bets

In other Walt Disney news, EVP Sonia L. Coleman sold 1,857 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $121.92, for a total transaction of $226,405.44. Following the completion of the transaction, the executive vice president now owns 4,400 shares of the company’s stock, valued at $536,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DIS. Daiwa Capital Markets reissued a “buy” rating and set a $133.00 price target on shares of Walt Disney in a research note on Monday, April 1st. Argus boosted their price objective on shares of Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Tigress Financial reiterated a “buy” rating and issued a $136.00 target price on shares of Walt Disney in a research note on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on Walt Disney from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. Finally, Macquarie boosted their price objective on Walt Disney from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.08.

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.