Point72 Hong Kong Ltd cut its stake in Walt Disney Co (NYSE:DIS) by 45.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,358 shares of the entertainment giant’s stock after selling 2,851 shares during the period. Point72 Hong Kong Ltd’s holdings in Walt Disney were worth $469,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Walt Disney by 3.3% in the second quarter. Vanguard Group Inc. now owns 131,103,772 shares of the entertainment giant’s stock worth $18,307,330,000 after buying an additional 4,142,604 shares during the period. FMR LLC grew its stake in shares of Walt Disney by 37.2% in the first quarter. FMR LLC now owns 33,901,641 shares of the entertainment giant’s stock worth $3,764,098,000 after purchasing an additional 9,190,235 shares in the last quarter. Morgan Stanley grew its stake in shares of Walt Disney by 29.9% in the second quarter. Morgan Stanley now owns 27,743,170 shares of the entertainment giant’s stock worth $3,874,059,000 after purchasing an additional 6,386,504 shares in the last quarter. Northern Trust Corp grew its stake in shares of Walt Disney by 1.2% in the second quarter. Northern Trust Corp now owns 25,509,749 shares of the entertainment giant’s stock worth $3,562,181,000 after purchasing an additional 300,560 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Walt Disney by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 24,158,044 shares of the entertainment giant’s stock worth $3,373,429,000 after purchasing an additional 918,097 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.
DIS stock traded down $1.03 during trading hours on Friday, hitting $132.27. 25,171,530 shares of the stock traded hands, compared to its average volume of 6,470,481. The stock has a 50-day simple moving average of $136.86 and a 200 day simple moving average of $132.52. Walt Disney Co has a one year low of $100.35 and a one year high of $147.15. The company has a market cap of $240.12 billion, a P/E ratio of 18.68, a P/E/G ratio of 4.41 and a beta of 0.97. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 0.38.
Walt Disney (NYSE:DIS) last announced its earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.41). Walt Disney had a net margin of 19.02% and a return on equity of 13.08%. The firm had revenue of $20.25 billion for the quarter, compared to the consensus estimate of $21.40 billion. During the same period in the prior year, the business earned $1.87 EPS. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. Analysts forecast that Walt Disney Co will post 5.99 earnings per share for the current year.
In related news, EVP Alan N. Braverman sold 94,462 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $141.18, for a total transaction of $13,336,145.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brent Woodford sold 2,200 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $146.68, for a total value of $322,696.00. Following the transaction, the executive vice president now directly owns 34,679 shares of the company’s stock, valued at approximately $5,086,715.72. The disclosure for this sale can be found here. Insiders have sold 98,662 shares of company stock valued at $13,947,341 in the last ninety days. Company insiders own 0.36% of the company’s stock.
Several research firms have recently issued reports on DIS. Citigroup reissued a “buy” rating and issued a $160.00 price target (up previously from $132.00) on shares of Walt Disney in a research note on Thursday, June 6th. Morgan Stanley set a $160.00 price target on Walt Disney and gave the stock a “buy” rating in a research note on Friday, August 2nd. Loop Capital increased their price target on Walt Disney to $165.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Bank of America set a $168.00 price target on Walt Disney and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Zacks Investment Research raised Walt Disney from a “strong sell” rating to a “hold” rating and set a $120.00 price target for the company in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. Walt Disney presently has an average rating of “Buy” and a consensus price target of $147.21.
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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