Primecap Management Co. CA Sells 26,617 Shares of The Walt Disney Company (NYSE:DIS)

Primecap Management Co. CA decreased its holdings in The Walt Disney Company (NYSE:DIS) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,497,724 shares of the entertainment giant’s stock after selling 26,617 shares during the period. Primecap Management Co. CA owned 0.36% of Walt Disney worth $645,159,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DIS. Jennison Associates LLC bought a new position in shares of Walt Disney in the 1st quarter valued at about $1,490,492,000. Capital World Investors lifted its stake in Walt Disney by 3,332.4% in the first quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock worth $766,903,000 after purchasing an additional 6,084,993 shares during the last quarter. ValueAct Holdings L.P. bought a new stake in Walt Disney in the fourth quarter worth about $459,245,000. Swedbank AB bought a new stake in Walt Disney in the first quarter worth about $493,715,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in Walt Disney in the first quarter worth about $425,567,000. Institutional investors own 65.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DIS. Bank of America decreased their price objective on shares of Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC decreased their price objective on shares of Walt Disney from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Raymond James reduced their target price on shares of Walt Disney from $123.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.95.

Walt Disney Stock Performance

Shares of DIS stock opened at $91.84 on Tuesday. The firm has a market cap of $166.56 billion, a price-to-earnings ratio of 99.83, a PEG ratio of 1.31 and a beta of 1.40. The company’s 50 day moving average is $90.95 and its 200 day moving average is $102.35. 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 Walt Disney Company has a 52-week low of $78.73 and a 52-week high of $123.74.

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

Insider Transactions at Walt Disney

In other Walt Disney news, Director Calvin Mcdonald purchased 11,756 shares of Walt Disney stock in a transaction dated 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 completion of the transaction, the director now owns 22,313 shares in the company, valued at approximately $1,897,943.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.10% of the company’s stock.

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.