The Walt Disney Company (NYSE:DIS) Shares Sold by Covestor Ltd

Covestor Ltd lessened its stake in The Walt Disney Company (NYSE:DIS) by 62.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,273 shares of the entertainment giant’s stock after selling 2,107 shares during the quarter. Covestor Ltd’s holdings in Walt Disney were worth $155,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DIS. Norges Bank acquired a new position in shares of Walt Disney in the 4th quarter valued at $1,938,647,000. Jennison Associates LLC acquired a new position in shares of Walt Disney in the 1st quarter valued at $1,490,492,000. ValueAct Holdings L.P. acquired a new position in shares of Walt Disney during the 4th quarter valued at $459,245,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Walt Disney during the 1st quarter valued at $425,567,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Walt Disney by 8,681.3% during the 4th quarter. International Assets Investment Management LLC now owns 3,349,709 shares of the entertainment giant’s stock valued at $302,445,000 after acquiring an additional 3,311,563 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DIS shares. Guggenheim lifted their target price on shares of Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Bank of America lifted their price target on shares of Walt Disney from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Raymond James lifted their price target on shares of Walt Disney from $112.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Moffett Nathanson dropped their price target on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Finally, Macquarie lifted their price target on shares of Walt Disney from $104.00 to $107.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.44.

Walt Disney Price Performance

DIS stock traded down $3.50 on Tuesday, hitting $90.63. 13,524,345 shares of the company’s stock traded hands, compared to its average volume of 11,263,802. The Walt Disney Company has a 1-year low of $78.73 and a 1-year high of $123.74. The stock has a market cap of $165.22 billion, a price-to-earnings ratio of 99.12, a P/E/G ratio of 1.19 and a beta of 1.40. The stock has a fifty day moving average of $100.48 and a 200-day moving average of $105.38. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last released its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. The business had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.12 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that The Walt Disney Company will post 4.75 EPS for the current fiscal year.

Insider Activity at Walt Disney

In other news, Director James P. Gorman purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average price of $106.03 per share, for a total transaction of $2,120,600.00. Following the completion of the acquisition, the director now directly owns 20,467 shares of the company’s stock, valued at $2,170,116.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Sonia L. Coleman sold 4,400 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $106.00, for a total transaction of $466,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James P. Gorman purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average price of $106.03 per share, for a total transaction of $2,120,600.00. Following the acquisition, the director now directly owns 20,467 shares of the company’s stock, valued at $2,170,116.01. The disclosure for this purchase can be found here. Company insiders own 0.10% 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.