The Walt Disney Company (NYSE:DIS) Stake Lowered by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 77.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,193 shares of the entertainment giant’s stock after selling 25,280 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Walt Disney were worth $714,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Walt Disney by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock valued at $18,815,185,000 after buying an additional 2,325,582 shares during the last quarter. Norges Bank acquired a new stake in shares of Walt Disney in the fourth quarter worth $1,938,647,000. Jennison Associates LLC bought a new position in Walt Disney during the first quarter worth $1,490,492,000. Price T Rowe Associates Inc. MD raised its stake in Walt Disney by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,040,297 shares of the entertainment giant’s stock valued at $1,473,252,000 after purchasing an additional 293,482 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Walt Disney by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,943,052 shares of the entertainment giant’s stock valued at $897,758,000 after purchasing an additional 211,397 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DIS shares. Moffett Nathanson cut their price objective on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Raymond James reduced their price objective on shares of Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays lowered their price target on Walt Disney from $130.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Loop Capital cut their price target on shares of Walt Disney from $139.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Evercore ISI reduced their price target on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.95.

Walt Disney Trading Up 0.7 %

Shares of NYSE:DIS traded up $0.64 during trading on Friday, hitting $90.56. 7,369,239 shares of the company’s stock were exchanged, compared to its average volume of 11,574,595. The firm has a 50-day moving average price of $94.36 and a two-hundred day moving average price of $104.59. The Walt Disney Company has a 1-year low of $78.73 and a 1-year high of $123.74. The firm has a market cap of $165.09 billion, a P/E ratio of 98.43, a PEG ratio of 1.15 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The company had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.08 billion. During the same period in the prior year, the business posted $1.03 EPS. Walt Disney’s revenue was up 3.9% on a year-over-year basis. Equities analysts predict that The Walt Disney Company will post 4.77 earnings per share for the current year.

Insider Activity

In other news, Director Calvin Mcdonald purchased 11,756 shares of Walt Disney stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $85.06 per share, with a total value of $999,965.36. Following the transaction, the director now directly owns 22,313 shares in the company, valued at approximately $1,897,943.78. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by company 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.