The Walt Disney Company (NYSE:DIS) Shares Sold by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. reduced its stake in The Walt Disney Company (NYSE:DIS) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,520 shares of the entertainment giant’s stock after selling 140 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Walt Disney were worth $1,397,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DIS. Jennison Associates LLC purchased a new position in Walt Disney in the 1st quarter valued at about $1,490,492,000. Capital World Investors boosted its position in Walt Disney by 3,332.4% in the 1st quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock valued at $766,903,000 after buying an additional 6,084,993 shares during the last quarter. Swedbank AB bought a new position in shares of Walt Disney during the first quarter worth about $493,715,000. Farallon Capital Management LLC bought a new position in shares of Walt Disney during the second quarter worth about $355,673,000. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Walt Disney during the first quarter worth about $425,567,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Calvin Mcdonald acquired 11,756 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $85.06 per share, with a total value of $999,965.36. Following the completion of the purchase, the director now owns 22,313 shares of the company’s stock, valued at $1,897,943.78. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Walt Disney Price Performance

NYSE DIS traded down $0.93 on Thursday, reaching $95.31. The company’s stock had a trading volume of 1,874,312 shares, compared to its average volume of 10,869,764. The firm has a market cap of $173.75 billion, a PE ratio of 104.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40. The business has a 50-day moving average price of $92.36 and a 200 day moving average price of $98.44. The Walt Disney Company has a 52 week low of $79.23 and a 52 week high of $123.74. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data 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 analysts’ expectations of $23.08 billion. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Sell-side analysts expect that The Walt Disney Company will post 4.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DIS. Moffett Nathanson reduced 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 report on Tuesday, July 2nd. Raymond James reissued a “market perform” rating on shares of Walt Disney in a report on Tuesday, October 1st. Macquarie dropped their price target on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, September 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Walt Disney in a report on Wednesday. Finally, Barclays cut their price target on Walt Disney from $130.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.05.

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.