Parsec Financial Management Inc. Decreases Stock Position in Walt Disney Co (NYSE:DIS)

Parsec Financial Management Inc. lowered its stake in Walt Disney Co (NYSE:DIS) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,414 shares of the entertainment giant’s stock after selling 1,641 shares during the period. Walt Disney makes up approximately 1.3% of Parsec Financial Management Inc.’s holdings, making the stock its 23rd largest holding. Parsec Financial Management Inc.’s holdings in Walt Disney were worth $21,562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Walt Disney by 6.5% during the 4th quarter. BlackRock Inc. now owns 92,790,946 shares of the entertainment giant’s stock valued at $10,174,527,000 after purchasing an additional 5,639,712 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Walt Disney by 14,778.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 53,195,820 shares of the entertainment giant’s stock valued at $485,000 after purchasing an additional 52,838,274 shares during the period. FMR LLC increased its holdings in Walt Disney by 37.2% during the 1st quarter. FMR LLC now owns 33,901,641 shares of the entertainment giant’s stock valued at $3,764,098,000 after purchasing an additional 9,190,235 shares during the period. Northern Trust Corp increased its holdings in Walt Disney by 4.5% during the 4th quarter. Northern Trust Corp now owns 21,001,994 shares of the entertainment giant’s stock valued at $2,302,868,000 after purchasing an additional 896,051 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in Walt Disney by 10.5% during the 1st quarter. Clearbridge Investments LLC now owns 10,855,844 shares of the entertainment giant’s stock valued at $1,205,324,000 after purchasing an additional 1,031,035 shares during the period. Hedge funds and other institutional investors own 64.14% of the company’s stock.

Walt Disney stock traded down $0.14 during trading hours on Friday, hitting $141.71. 6,536,172 shares of the stock traded hands, compared to its average volume of 7,079,343. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $141.98. Walt Disney Co has a one year low of $100.35 and a one year high of $147.15. The stock has a market capitalization of $257.37 billion, a P/E ratio of 20.02, a PEG ratio of 4.32 and a beta of 0.96.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Wednesday, May 8th. The entertainment giant reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.02. Walt Disney had a return on equity of 15.67% and a net margin of 22.55%. The firm had revenue of $14.92 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Walt Disney Co will post 6.57 earnings per share for the current year.

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were given a $0.88 dividend. The ex-dividend date of this dividend was Friday, July 5th. Walt Disney’s dividend payout ratio is currently 24.86%.

In other news, EVP Brent Woodford sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $144.25, for a total value of $288,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alan N. Braverman sold 94,462 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $141.18, for a total value of $13,336,145.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,423 shares of company stock worth $22,284,125. Insiders own 0.36% of the company’s stock.

A number of research analysts recently issued reports on the company. ValuEngine upgraded Walt Disney from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Cowen raised Walt Disney from a “market perform” rating to an “outperform” rating and set a $115.90 price objective on the stock in a research report on Tuesday, April 9th. Credit Suisse Group lifted their price objective on Walt Disney from $114.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Citigroup reaffirmed a “buy” rating and set a $160.00 price objective (up from $132.00) on shares of Walt Disney in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. started coverage on Walt Disney in a research report on Friday, April 12th. They set an “overweight” rating and a $137.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company’s stock. Walt Disney has an average rating of “Buy” and a consensus price target of $144.89.

Walt Disney Company Profile

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.

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Institutional Ownership by Quarter for Walt Disney (NYSE:DIS)

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