Connors Investor Services Inc. Decreases Stock Position in Walt Disney Co (NYSE:DIS)

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Connors Investor Services Inc. decreased its position in shares of Walt Disney Co (NYSE:DIS) by 1.1% during the second quarter, Holdings Channel.com reports. The fund owned 131,473 shares of the entertainment giant’s stock after selling 1,464 shares during the quarter. Walt Disney accounts for 2.4% of Connors Investor Services Inc.’s investment portfolio, making the stock its 5th largest holding. Connors Investor Services Inc.’s holdings in Walt Disney were worth $18,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DIS. Vanguard Group Inc. increased its position in Walt Disney by 3.3% in the second quarter. Vanguard Group Inc. now owns 131,103,772 shares of the entertainment giant’s stock worth $18,307,330,000 after purchasing an additional 4,142,604 shares during the last quarter. FMR LLC increased its position in Walt Disney by 37.2% in the first quarter. FMR LLC now owns 33,901,641 shares of the entertainment giant’s stock worth $3,764,098,000 after purchasing an additional 9,190,235 shares during the last quarter. Northern Trust Corp increased its position in Walt Disney by 1.2% in the second quarter. Northern Trust Corp now owns 25,509,749 shares of the entertainment giant’s stock worth $3,562,181,000 after purchasing an additional 300,560 shares during the last quarter. Bank of New York Mellon Corp increased its position in Walt Disney by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 24,158,044 shares of the entertainment giant’s stock worth $3,373,429,000 after purchasing an additional 918,097 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Walt Disney by 7.4% in the second quarter. Janus Henderson Group PLC now owns 12,194,709 shares of the entertainment giant’s stock worth $1,702,901,000 after purchasing an additional 835,585 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Shares of DIS traded down $1.49 during trading hours on Thursday, reaching $135.31. 2,030,989 shares of the company traded hands, compared to its average volume of 6,354,677. The firm has a market cap of $244.63 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.49 and a beta of 0.97. Walt Disney Co has a 12-month low of $100.35 and a 12-month high of $147.15. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average price is $137.32 and its 200 day moving average price is $132.33.

Walt Disney (NYSE:DIS) last issued its earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.41). The company had revenue of $20.25 billion for the quarter, compared to analysts’ expectations of $21.40 billion. Walt Disney had a net margin of 19.02% and a return on equity of 13.08%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 earnings per share. On average, research analysts forecast that Walt Disney Co will post 6 earnings per share for the current year.

Several brokerages recently weighed in on DIS. Credit Suisse Group restated a “buy” rating and issued a $150.00 price target on shares of Walt Disney in a research report on Thursday, August 8th. Moffett Nathanson set a $150.00 price target on shares of Walt Disney and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Loop Capital lifted their price objective on shares of Walt Disney to $165.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Tigress Financial reaffirmed a “buy” rating on shares of Walt Disney in a research note on Monday, August 26th. Finally, Bank of America set a $168.00 price objective on shares of Walt Disney and gave the stock a “buy” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $147.21.

In related news, EVP Alan N. Braverman sold 94,462 shares of Walt Disney stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $141.18, for a total value of $13,336,145.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brent Woodford sold 2,200 shares of Walt Disney stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $146.68, for a total value of $322,696.00. Following the completion of the sale, the executive vice president now owns 34,679 shares of the company’s stock, valued at $5,086,715.72. The disclosure for this sale can be found here. Insiders have sold 98,662 shares of company stock valued at $13,947,341 over the last three months. Insiders own 0.36% of the company’s stock.

Walt Disney Profile

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.

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Institutional Ownership by Quarter for Walt Disney (NYSE:DIS)

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