Pinnacle Associates Ltd. increased its position in shares of Walt Disney Co (NYSE:DIS) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,920 shares of the entertainment giant’s stock after purchasing an additional 689 shares during the period. Pinnacle Associates Ltd.’s holdings in Walt Disney were worth $14,372,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Koshinski Asset Management Inc. grew its stake in Walt Disney by 6.4% during the second quarter. Koshinski Asset Management Inc. now owns 11,115 shares of the entertainment giant’s stock valued at $1,552,000 after acquiring an additional 667 shares in the last quarter. Halbert Hargrove Russell LLC purchased a new position in Walt Disney during the second quarter valued at $599,000. WealthPLAN Partners LLC grew its stake in shares of Walt Disney by 21.6% in the 1st quarter. WealthPLAN Partners LLC now owns 7,040 shares of the entertainment giant’s stock worth $948,000 after buying an additional 1,250 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of Walt Disney in the 4th quarter worth $2,499,000. Finally, Markel Corp grew its stake in shares of Walt Disney by 0.9% in the 2nd quarter. Markel Corp now owns 1,823,000 shares of the entertainment giant’s stock worth $254,564,000 after buying an additional 16,500 shares in the last quarter. Hedge funds and other institutional investors own 64.27% of the company’s stock.
In related news, EVP Alan N. Braverman sold 94,462 shares of Walt Disney stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $141.18, for a total transaction of $13,336,145.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brent Woodford sold 2,000 shares of Walt Disney stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $144.25, for a total transaction of $288,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,423 shares of company stock valued at $21,743,165. 0.36% of the stock is owned by corporate insiders.
Walt Disney (NYSE:DIS) last released its quarterly earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.41). Walt Disney had a return on equity of 13.08% and a net margin of 19.02%. The firm had revenue of $20.25 billion for the quarter, compared to analysts’ expectations of $21.40 billion. During the same period in the prior year, the firm posted $1.87 earnings per share. Walt Disney’s revenue for the quarter was up 32.9% on a year-over-year basis. Sell-side analysts forecast that Walt Disney Co will post 6 EPS for the current year.
The company also recently declared a Semi-Annual dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, July 5th. Walt Disney’s dividend payout ratio is presently 24.86%.
A number of brokerages have commented on DIS. Barclays lifted their price objective on shares of Walt Disney from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Morgan Stanley set a $160.00 price objective on shares of Walt Disney and gave the stock a “buy” rating in a research note on Friday, August 2nd. UBS Group lifted their price objective on shares of Walt Disney from $128.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. BMO Capital Markets lifted their price objective on shares of Walt Disney from $140.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $175.00 price objective on shares of Walt Disney in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $148.22.
Walt Disney 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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