The Walt Disney Company (NYSE:DIS) Holdings Decreased by Jennison Associates LLC

Jennison Associates LLC lowered its position in The Walt Disney Company (NYSE:DIS) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,902,149 shares of the entertainment giant’s stock after selling 295,314 shares during the quarter. Walt Disney makes up approximately 1.3% of Jennison Associates LLC’s holdings, making the stock its 21st biggest position. Jennison Associates LLC owned about 1.05% of Walt Disney worth $1,865,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DIS. Mpwm Advisory Solutions LLC acquired a new position in shares of Walt Disney in the 4th quarter worth approximately $27,000. Kessler Investment Group LLC raised its stake in shares of Walt Disney by 274.0% in the 1st quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Walt Disney in the 4th quarter valued at about $32,000. Copia Wealth Management bought a new position in shares of Walt Disney in the 4th quarter valued at about $36,000. Finally, Vermillion Wealth Management Inc. bought a new position in Walt Disney during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Trading Up 2.0%

Shares of DIS opened at $122.23 on Friday. The Walt Disney Company has a 1-year low of $80.10 and a 1-year high of $124.69. The company has a 50-day moving average of $116.69 and a 200 day moving average of $106.94. The firm has a market capitalization of $219.74 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.75 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.67 and a quick ratio of 0.61.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.24. The business had revenue of $23.62 billion for the quarter, compared to the consensus estimate of $23.15 billion. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. On average, research analysts expect that The Walt Disney Company will post 5.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Guggenheim boosted their price objective on Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Rosenblatt Securities boosted their price objective on Walt Disney from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Morgan Stanley lifted their price target on shares of Walt Disney from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Wolfe Research upgraded shares of Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price target for the company in a research report on Monday, April 21st. Finally, Citigroup lifted their price target on shares of Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.13.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the sale, the executive vice president directly owned 46,831 shares of the company’s stock, valued at $5,190,748.04. This represents a 2.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

About Walt Disney

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.