Lorne Steinberg Wealth Management Inc. Boosts Stock Holdings in The Walt Disney Company (NYSE:DIS)

Lorne Steinberg Wealth Management Inc. grew its position in shares of The Walt Disney Company (NYSE:DIS) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,148 shares of the entertainment giant’s stock after purchasing an additional 445 shares during the quarter. Walt Disney makes up about 2.1% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 18th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Walt Disney were worth $6,369,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mcdonald Partners LLC lifted its holdings in shares of Walt Disney by 0.5% during the first quarter. Mcdonald Partners LLC now owns 17,975 shares of the entertainment giant’s stock valued at $2,199,000 after purchasing an additional 88 shares during the last quarter. Sendero Wealth Management LLC lifted its holdings in shares of Walt Disney by 2.0% during the first quarter. Sendero Wealth Management LLC now owns 4,649 shares of the entertainment giant’s stock valued at $569,000 after purchasing an additional 89 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Walt Disney by 1.5% during the first quarter. McKinley Carter Wealth Services Inc. now owns 5,894 shares of the entertainment giant’s stock valued at $721,000 after purchasing an additional 89 shares during the last quarter. Pflug Koory LLC lifted its holdings in shares of Walt Disney by 1.0% during the first quarter. Pflug Koory LLC now owns 8,993 shares of the entertainment giant’s stock valued at $1,100,000 after purchasing an additional 91 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC lifted its holdings in shares of Walt Disney by 3.5% during the first quarter. Regent Peak Wealth Advisors LLC now owns 2,801 shares of the entertainment giant’s stock valued at $343,000 after purchasing an additional 94 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DIS. Raymond James lowered their price objective on Walt Disney from $123.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America lowered their target price on Walt Disney from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Macquarie reduced their price objective on Walt Disney from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price objective on Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group reduced their price objective on Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Walt Disney has an average rating of “Moderate Buy” and a consensus target price of $118.21.

Insider Activity

In related news, Director Calvin Mcdonald bought 11,756 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the acquisition, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.10% of the company’s stock.

Walt Disney Trading Up 0.6 %

Shares of NYSE DIS traded up $0.49 during midday trading on Friday, hitting $89.29. The stock had a trading volume of 10,266,739 shares, compared to its average volume of 11,680,049. The company’s 50-day simple moving average is $95.66 and its 200 day simple moving average is $104.84. The firm has a market cap of $162.77 billion, a P/E ratio of 96.43, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40. The Walt Disney Company has a fifty-two week low of $78.73 and a fifty-two week high of $123.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.75 and a quick ratio of 0.69.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.19. The firm had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. Research analysts anticipate that The Walt Disney Company will post 4.77 EPS for the current year.

About Walt Disney

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.