Novare Capital Management LLC Sells 3,459 Shares of The Walt Disney Company (NYSE:DIS)

Novare Capital Management LLC lowered its holdings in shares of The Walt Disney Company (NYSE:DIS) by 28.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,590 shares of the entertainment giant’s stock after selling 3,459 shares during the period. Novare Capital Management LLC’s holdings in Walt Disney were worth $826,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Walt Disney by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock valued at $18,815,185,000 after purchasing an additional 2,325,582 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Walt Disney by 10.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock valued at $1,477,831,000 after purchasing an additional 1,449,730 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Walt Disney by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock valued at $1,417,958,000 after purchasing an additional 425,438 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Walt Disney in the 1st quarter valued at $1,490,492,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Walt Disney by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,040,297 shares of the entertainment giant’s stock worth $1,473,252,000 after buying an additional 293,482 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insiders Place Their Bets

In related news, Director Calvin Mcdonald acquired 11,756 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $85.06 per share, with a total value of $999,965.36. Following the transaction, the director now owns 22,313 shares of the company’s stock, valued at $1,897,943.78. The trade was a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Walt Disney Trading Up 0.6 %

Shares of DIS traded up $0.56 during trading hours on Monday, reaching $94.69. The stock had a trading volume of 1,447,985 shares, compared to its average volume of 11,004,732. The company has a market cap of $172.62 billion, a P/E ratio of 102.32, a P/E/G ratio of 1.49 and a beta of 1.40. The Walt Disney Company has a 52 week low of $79.23 and a 52 week high of $123.74. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $90.85 and a 200 day moving average of $99.65.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.19. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The company had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.08 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts expect that The Walt Disney Company will post 4.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on DIS shares. Wells Fargo & Company reduced their price target on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. UBS Group decreased their price objective on Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI dropped their target price on Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Seaport Res Ptn upgraded Walt Disney from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.20.

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.