New World Advisors LLC Raises Position in The Walt Disney Company (NYSE:DIS)

New World Advisors LLC increased its holdings in shares of The Walt Disney Company (NYSE:DIS) by 27.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,224 shares of the entertainment giant’s stock after buying an additional 900 shares during the quarter. New World Advisors LLC’s holdings in Walt Disney were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Walt Disney by 1.5% during the first quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock worth $18,815,185,000 after buying an additional 2,325,582 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Walt Disney by 10.8% in the second 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 during the period. Legal & General Group Plc increased its holdings in shares of Walt Disney by 3.1% in the second 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 during the period. Jennison Associates LLC acquired a new stake in shares of Walt Disney during the first quarter worth about $1,490,492,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Walt Disney by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,040,297 shares of the entertainment giant’s stock valued at $1,473,252,000 after buying an additional 293,482 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Walt Disney

In other news, Director Calvin Mcdonald purchased 11,756 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the acquisition, the director now directly owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DIS has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Bank of America decreased their target price on shares of Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. 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 note on Thursday, August 8th. Seaport Res Ptn upgraded Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Piper Sandler initiated coverage on Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Five investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.05.

Walt Disney Price Performance

DIS traded down $0.37 during trading on Friday, reaching $95.03. The company’s stock had a trading volume of 6,638,148 shares, compared to its average volume of 10,864,460. 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 fifty day simple moving average of $92.61 and a two-hundred day simple moving average of $98.12. The company has a market cap of $173.24 billion, a price-to-earnings ratio of 103.29, a PEG ratio of 1.49 and a beta of 1.40. The Walt Disney Company has a 1 year low of $79.23 and a 1 year high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 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 business had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that The Walt Disney Company will post 4.92 EPS for the current year.

Walt Disney Company Profile

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.