Balentine LLC Takes $228,000 Position in The Walt Disney Company (NYSE:DIS)

Balentine LLC purchased a new position in The Walt Disney Company (NYSE:DIS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,375 shares of the entertainment giant’s stock, valued at approximately $228,000.

A number of other hedge funds also recently modified their holdings of the stock. Lmcg Investments LLC grew its stake in shares of Walt Disney by 18.6% during the 3rd quarter. Lmcg Investments LLC now owns 147,353 shares of the entertainment giant’s stock worth $14,174,000 after acquiring an additional 23,116 shares during the period. PGGM Investments bought a new position in Walt Disney during the first quarter worth about $1,036,000. Nisa Investment Advisors LLC raised its position in shares of Walt Disney by 22.2% in the third quarter. Nisa Investment Advisors LLC now owns 704,887 shares of the entertainment giant’s stock valued at $67,803,000 after purchasing an additional 127,859 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Walt Disney by 30.8% during the 1st quarter. Advisors Asset Management Inc. now owns 25,987 shares of the entertainment giant’s stock valued at $3,180,000 after buying an additional 6,118 shares in the last quarter. Finally, Founders Financial Securities LLC boosted its holdings in Walt Disney by 8.4% in the 2nd quarter. Founders Financial Securities LLC now owns 14,603 shares of the entertainment giant’s stock worth $1,450,000 after buying an additional 1,133 shares during the period. Institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Macquarie lowered their target price on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, September 19th. Barclays dropped their price objective on Walt Disney from $130.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company cut their target price on Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. UBS Group decreased their price target 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. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, August 8th. Five investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.05.

Walt Disney Stock Performance

NYSE:DIS opened at $96.66 on Wednesday. The Walt Disney Company has a 1-year low of $83.59 and a 1-year high of $123.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66. The business has a 50 day moving average of $93.36 and a 200 day moving average of $97.11. The company has a market capitalization of $175.30 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.52 and a beta of 1.40.

Walt Disney (NYSE:DIS) last announced its quarterly earnings data on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. The company had revenue of $23.20 billion during 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 firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. On average, sell-side analysts predict that The Walt Disney Company will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Walt Disney

In related news, Director Calvin Mcdonald bought 11,756 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $85.06 per share, with a total value of $999,965.36. Following the purchase, the director now owns 22,313 shares in the company, valued at approximately $1,897,943.78. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

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.