Carnegie Capital Asset Management LLC lifted its stake in Walt Disney Co (NYSE:DIS) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,153 shares of the entertainment giant’s stock after purchasing an additional 677 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Walt Disney were worth $3,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of DIS. Phocas Financial Corp. increased its holdings in Walt Disney by 989,639.9% in the second quarter. Phocas Financial Corp. now owns 67,054,876 shares of the entertainment giant’s stock worth $703,000 after buying an additional 67,048,101 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Walt Disney by 22.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,228,738 shares of the entertainment giant’s stock worth $652,841,000 after buying an additional 1,129,743 shares during the last quarter. Ruffer LLP increased its holdings in Walt Disney by 39.1% in the second quarter. Ruffer LLP now owns 3,977,520 shares of the entertainment giant’s stock worth $417,261,000 after buying an additional 1,117,959 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Walt Disney by 10,630.8% in the second quarter. Cornerstone Wealth Management LLC now owns 1,022,536 shares of the entertainment giant’s stock worth $9,705,000 after buying an additional 1,013,007 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Walt Disney by 73.7% in the first quarter. Schroder Investment Management Group now owns 2,174,764 shares of the entertainment giant’s stock worth $218,434,000 after buying an additional 923,048 shares during the last quarter. 63.18% of the stock is owned by institutional investors and hedge funds.
DIS has been the topic of a number of research reports. Zacks Investment Research upgraded Walt Disney from a “sell” rating to a “hold” rating in a report on Monday, September 10th. Morgan Stanley increased their price objective on Walt Disney from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, October 15th. Pivotal Research restated a “sell” rating and issued a $95.00 price objective on shares of Walt Disney in a report on Sunday, September 23rd. Barclays upgraded Walt Disney from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $104.00 to $130.00 in a report on Friday, October 19th. Finally, B. Riley dropped their price objective on Walt Disney from $123.00 to $121.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $120.90.
Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Tuesday, August 7th. The entertainment giant reported $1.87 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.10). Walt Disney had a net margin of 20.76% and a return on equity of 21.37%. The company had revenue of $15.23 billion for the quarter, compared to analyst estimates of $15.49 billion. During the same quarter last year, the business earned $1.58 EPS. On average, sell-side analysts anticipate that Walt Disney Co will post 6.92 earnings per share for the current fiscal year.
In other Walt Disney news, EVP Mary Jayne Parker sold 130,074 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $114.99, for a total transaction of $14,957,209.26. Following the transaction, the executive vice president now owns 43,048 shares in the company, valued at $4,950,089.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brent Woodford sold 952 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $111.87, for a total transaction of $106,500.24. Following the completion of the sale, the executive vice president now owns 26,698 shares in the company, valued at approximately $2,986,705.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 598,858 shares of company stock worth $68,953,653. Corporate insiders own 0.38% of the company’s stock.
About Walt Disney
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.
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