Gateway Investment Advisers LLC lowered its stake in The Walt Disney Co. (NYSE:DIS) by 5.3% during the third quarter, Holdings Channel reports. The institutional investor owned 1,061,816 shares of the entertainment giant’s stock after selling 59,727 shares during the period. Gateway Investment Advisers LLC’s holdings in The Walt Disney were worth $98,600,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Parnassus Investments CA acquired a new stake in The Walt Disney during the second quarter valued at approximately $392,780,000. Bank of Montreal Can purchased a new position in shares of The Walt Disney during the second quarter worth about $202,393,000. Nordea Investment Management AB increased its position in shares of The Walt Disney by 430.0% in the second quarter. Nordea Investment Management AB now owns 2,156,556 shares of the entertainment giant’s stock worth $210,954,000 after buying an additional 1,749,646 shares during the period. Cohen & Steers Inc. increased its position in shares of The Walt Disney by 282.4% in the second quarter. Cohen & Steers Inc. now owns 1,200,000 shares of the entertainment giant’s stock worth $1,194,000 after buying an additional 886,207 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of The Walt Disney during the second quarter worth about $62,546,000. Institutional investors and hedge funds own 56.74% of the company’s stock.
The Walt Disney Co. (NYSE:DIS) opened at 108.16 on Thursday. The company has a market cap of $172.13 billion, a PE ratio of 18.88 and a beta of 1.23. The stock has a 50 day moving average of $104.76 and a 200 day moving average of $97.45. The Walt Disney Co. has a one year low of $86.25 and a one year high of $109.49.
The Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Thursday, November 10th. The entertainment giant reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.06. The Walt Disney had a return on equity of 19.81% and a net margin of 16.88%. The business earned $13.14 billion during the quarter, compared to analysts’ expectations of $13.71 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts anticipate that The Walt Disney Co. will post $5.92 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which was paid on Wednesday, January 11th. Investors of record on Monday, December 12th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This is a boost from The Walt Disney’s previous semiannual dividend of $0.71. This represents a yield of 1.58%. The Walt Disney’s payout ratio is currently 27.27%.
A number of research analysts have recently issued reports on the stock. restated a “buy” rating and issued a $108.00 price target on shares of The Walt Disney in a research report on Friday, November 11th. Sanford C. Bernstein restated a “hold” rating and issued a $102.00 price target on shares of The Walt Disney in a research report on Thursday, December 1st. Brean Capital restated a “hold” rating on shares of The Walt Disney in a research report on Thursday, October 27th. Loop Capital restated a “buy” rating and issued a $117.00 price target (up previously from $113.00) on shares of The Walt Disney in a research report on Tuesday. Finally, Goldman Sachs Group Inc. upgraded shares of The Walt Disney from a “neutral” rating to a “buy” rating and boosted their target price for the company from $109.00 to $134.00 in a research report on Tuesday. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $111.84.
In related news, EVP Alan N. Braverman sold 19,871 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $99.00, for a total value of $1,967,229.00. Following the transaction, the executive vice president now directly owns 135,614 shares of the company’s stock, valued at approximately $13,425,786. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Brent Woodford sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $108.50, for a total value of $217,000.00. Following the completion of the transaction, the executive vice president now directly owns 27,745 shares in the company, valued at $3,010,332.50. The disclosure for this sale can be found here. 13.00% of the stock is owned by corporate insiders.
The Walt Disney Company Profile
The Walt Disney Company is an entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations.
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