Gateway Wealth Partners LLC Lowers Holdings in The Walt Disney Company (NYSE:DIS)

Gateway Wealth Partners LLC reduced its stake in shares of The Walt Disney Company (NYSE:DIS) by 8.3% in the third quarter, HoldingsChannel reports. The firm owned 2,815 shares of the entertainment giant’s stock after selling 254 shares during the period. Gateway Wealth Partners LLC’s holdings in Walt Disney were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Walt Disney by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock worth $18,815,185,000 after purchasing an additional 2,325,582 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Walt Disney by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock worth $1,477,831,000 after purchasing an additional 1,449,730 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Walt Disney by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock worth $1,417,958,000 after purchasing an additional 425,438 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Walt Disney during the 1st quarter worth $1,490,492,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of 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 worth $1,473,252,000 after purchasing an additional 293,482 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Seaport Res Ptn upgraded Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Evercore ISI reduced their target price on Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Piper Sandler initiated coverage on Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Walt Disney in a research report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Walt Disney Stock Down 0.1 %

Shares of DIS stock opened at $96.13 on Wednesday. The firm has a market capitalization of $175.25 billion, a PE ratio of 104.49, a P/E/G ratio of 1.49 and a beta of 1.40. The Walt Disney Company has a fifty-two week low of $79.53 and a fifty-two week high of $123.74. The stock’s 50-day simple moving average is $92.84 and its 200-day simple moving average is $97.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, topping the consensus estimate of $1.20 by $0.19. The firm had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. Walt Disney’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. Equities analysts expect that The Walt Disney Company will post 4.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Calvin Mcdonald bought 11,756 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $85.06 per share, with a total value of $999,965.36. Following the completion of the acquisition, the director now directly owns 22,313 shares in the company, valued at approximately $1,897,943.78. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is owned by corporate insiders.

Walt Disney Company 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.