Clearbridge Investments LLC Sells 321,475 Shares of The Walt Disney Company (NYSE:DIS)

Clearbridge Investments LLC decreased its position in The Walt Disney Company (NYSE:DIS) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,034,429 shares of the entertainment giant’s stock after selling 321,475 shares during the period. Clearbridge Investments LLC’s holdings in Walt Disney were worth $400,578,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DIS. Jennison Associates LLC acquired a new position in Walt Disney in the 1st quarter valued at approximately $1,490,492,000. Capital World Investors raised its holdings in shares of Walt Disney by 3,332.4% in the 1st quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock worth $766,903,000 after buying an additional 6,084,993 shares in the last quarter. ValueAct Holdings L.P. acquired a new position in shares of Walt Disney in the 4th quarter worth approximately $459,245,000. Swedbank AB acquired a new position in shares of Walt Disney in the 1st quarter worth approximately $493,715,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Walt Disney in the 2nd quarter worth approximately $355,673,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Calvin Mcdonald bought 11,756 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $85.06 per share, with a total value of $999,965.36. Following the completion of the transaction, the director now owns 22,313 shares of the company’s stock, valued at $1,897,943.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.10% of the company’s stock.

Walt Disney Price Performance

NYSE:DIS opened at $96.18 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The stock’s 50-day simple moving average is $90.44 and its 200 day simple moving average is $101.11. The company has a market cap of $175.34 billion, a P/E ratio of 104.54, a P/E/G ratio of 1.53 and a beta of 1.40. The Walt Disney Company has a 52-week low of $78.73 and a 52-week high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. The business had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.08 billion. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. Walt Disney’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. As a group, sell-side analysts forecast that The Walt Disney Company will post 4.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DIS shares. The Goldman Sachs Group began coverage on Walt Disney in a report on Tuesday, June 25th. They issued a “buy” rating and a $125.00 target price for the company. Raymond James dropped their price target on Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Evercore ISI decreased their price objective 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. Finally, Loop Capital decreased their price objective on Walt Disney from $139.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.43.

Walt Disney 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.