Walt Disney’s (DIS) Buy Rating Reaffirmed at Needham & Company LLC

Walt Disney (NYSE:DIS)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They currently have a $110.00 price objective on the entertainment giant’s stock. Needham & Company LLC’s price objective suggests a potential upside of 15.27% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Loop Capital lowered their price target on shares of Walt Disney from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Bank of America lowered their target price on shares of Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on Walt Disney in a research report on Tuesday, June 25th. They issued a “buy” rating and a $125.00 price target on the stock. Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Moffett Nathanson dropped their target price on Walt Disney from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Walt Disney Stock Performance

Walt Disney stock opened at $95.43 on Wednesday. Walt Disney has a fifty-two week low of $79.23 and a fifty-two week high of $123.74. The stock’s 50 day simple moving average is $92.36 and its two-hundred day simple moving average is $98.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market cap of $173.97 billion, a price-to-earnings ratio of 103.73, a PEG ratio of 1.49 and a beta of 1.40.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.19. The company 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 8.64% and a net margin of 5.30%. The firm’s revenue 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. As a group, analysts expect that Walt Disney will post 4.92 earnings per share for the current fiscal year.

Insider Transactions at Walt Disney

In other news, Director Calvin Mcdonald acquired 11,756 shares of Walt Disney stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the transaction, the director now owns 22,313 shares in the company, valued at $1,897,943.78. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Walt Disney

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sendero Wealth Management LLC raised its stake in shares of Walt Disney by 2.0% in the first quarter. Sendero Wealth Management LLC now owns 4,649 shares of the entertainment giant’s stock worth $569,000 after buying an additional 89 shares during the period. Regent Peak Wealth Advisors LLC increased its holdings in Walt Disney by 3.5% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 2,801 shares of the entertainment giant’s stock worth $343,000 after acquiring an additional 94 shares in the last quarter. Horizon Bancorp Inc. IN raised its stake in Walt Disney by 6.1% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,674 shares of the entertainment giant’s stock worth $205,000 after acquiring an additional 96 shares during the period. KFA Private Wealth Group LLC lifted its holdings in Walt Disney by 4.1% during the first quarter. KFA Private Wealth Group LLC now owns 2,691 shares of the entertainment giant’s stock valued at $329,000 after purchasing an additional 106 shares in the last quarter. Finally, Transcendent Capital Group LLC boosted its position in shares of Walt Disney by 1.4% in the first quarter. Transcendent Capital Group LLC now owns 7,912 shares of the entertainment giant’s stock worth $968,000 after purchasing an additional 108 shares during the period. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

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.