Norges Bank Makes New $2.42 Billion Investment in The Walt Disney Company (NYSE:DIS)

Norges Bank bought a new position in The Walt Disney Company (NYSE:DIS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,692,209 shares of the entertainment giant’s stock, valued at approximately $2,415,427,000. Norges Bank owned about 1.20% of Walt Disney at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in shares of Walt Disney during the 4th quarter valued at $28,000. Tacita Capital Inc raised its position in shares of Walt Disney by 93.2% in the fourth quarter. Tacita Capital Inc now owns 257 shares of the entertainment giant’s stock worth $29,000 after acquiring an additional 124 shares during the period. Midwest Capital Advisors LLC acquired a new position in Walt Disney in the 4th quarter valued at about $34,000. Bay Harbor Wealth Management LLC acquired a new stake in Walt Disney in the 4th quarter valued at about $35,000. Finally, Vision Financial Markets LLC purchased a new stake in Walt Disney in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Stock Performance

Walt Disney stock opened at $100.65 on Thursday. The Walt Disney Company has a fifty-two week low of $83.91 and a fifty-two week high of $123.74. The company has a market capitalization of $181.95 billion, a PE ratio of 32.79, a P/E/G ratio of 1.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.68. The company has a 50 day moving average price of $107.61 and a 200-day moving average price of $105.04.

Walt Disney (NYSE:DIS) last released its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. As a group, equities analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on DIS shares. Loop Capital upped their price target on shares of Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Redburn Atlantic upgraded Walt Disney from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $147.00 in a report on Tuesday, January 7th. Macquarie restated a “neutral” rating and set a $110.00 price objective on shares of Walt Disney in a report on Monday, January 6th. Jefferies Financial Group initiated coverage on shares of Walt Disney in a research note on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target for the company. Finally, Citigroup restated a “buy” rating and set a $125.00 price objective on shares of Walt Disney in a report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.64.

Walt Disney 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.