Mackenzie Financial Corp Sells 11,637 Shares of The Walt Disney Company (NYSE:DIS)

Mackenzie Financial Corp trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 2.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 405,494 shares of the entertainment giant’s stock after selling 11,637 shares during the quarter. Mackenzie Financial Corp’s holdings in Walt Disney were worth $40,261,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ESL Trust Services LLC bought a new stake in Walt Disney in the first quarter worth $31,000. Red Tortoise LLC lifted its stake in shares of Walt Disney by 141.4% in the 1st quarter. Red Tortoise LLC now owns 367 shares of the entertainment giant’s stock valued at $45,000 after acquiring an additional 215 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Walt Disney in the 4th quarter valued at about $37,000. O Brien Wealth Partners LLC purchased a new stake in Walt Disney during the 1st quarter valued at about $51,000. Finally, Mascoma Wealth Management LLC grew its position in Walt Disney by 38.0% during the 2nd quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock worth $44,000 after acquiring an additional 122 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group dropped their price objective on Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Raymond James dropped their price target on shares of Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group began coverage on shares of Walt Disney in a research report on Tuesday, June 25th. They issued a “buy” rating and a $125.00 price objective on the stock. Macquarie dropped their target price on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, September 19th. Finally, Loop Capital reduced their price target on Walt Disney from $139.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Walt Disney currently has an average rating of “Moderate Buy” and a consensus price target of $118.43.

Insider Activity at Walt Disney

In related news, Director Calvin Mcdonald bought 11,756 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were acquired 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 owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.

Walt Disney Stock Performance

Shares of DIS stock opened at $96.01 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average price is $90.40 and its 200-day moving average price is $101.30. The stock has a market cap of $175.03 billion, a PE ratio of 104.36, a price-to-earnings-growth ratio of 1.53 and a beta of 1.40. The Walt Disney Company has a 12 month low of $78.73 and a 12 month high of $123.74.

Walt Disney (NYSE:DIS) last announced its quarterly earnings data on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The business had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.08 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts expect that The Walt Disney Company will post 4.92 EPS for the current fiscal year.

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.