Cannon Financial Strategists Inc. Takes Position in The Walt Disney Company (NYSE:DIS)

Cannon Financial Strategists Inc. acquired a new stake in The Walt Disney Company (NYSE:DIS) in the second quarter, HoldingsChannel.com reports. The fund acquired 4,023 shares of the entertainment giant’s stock, valued at approximately $399,000.

A number of other hedge funds also recently made changes to their positions in the business. Mcdonald Partners LLC grew its position in Walt Disney by 0.5% in the 1st quarter. Mcdonald Partners LLC now owns 17,975 shares of the entertainment giant’s stock worth $2,199,000 after purchasing an additional 88 shares in the last quarter. Sendero Wealth Management LLC grew its position in Walt Disney by 2.0% in the 1st quarter. Sendero Wealth Management LLC now owns 4,649 shares of the entertainment giant’s stock worth $569,000 after purchasing an additional 89 shares in the last quarter. McKinley Carter Wealth Services Inc. grew its position in Walt Disney by 1.5% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 5,894 shares of the entertainment giant’s stock worth $721,000 after purchasing an additional 89 shares in the last quarter. Pflug Koory LLC grew its position in Walt Disney by 1.0% in the 1st quarter. Pflug Koory LLC now owns 8,993 shares of the entertainment giant’s stock worth $1,100,000 after purchasing an additional 91 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC grew its position in Walt Disney by 3.5% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 2,801 shares of the entertainment giant’s stock worth $343,000 after purchasing an additional 94 shares in the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DIS shares. Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday. Morgan Stanley reduced their price objective on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Moffett Nathanson reduced their target price on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, Macquarie reduced their target price on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.43.

Insiders Place Their Bets

In related news, Director Calvin Mcdonald purchased 11,756 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $85.06 per share, with a total value of $999,965.36. Following the acquisition, the director now directly 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 SEC, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

Shares of DIS stock opened at $94.05 on Wednesday. The Walt Disney Company has a 12 month low of $78.73 and a 12 month high of $123.74. 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 stock has a market capitalization of $171.46 billion, a P/E ratio of 102.23, a PEG ratio of 1.53 and a beta of 1.40. The firm’s 50 day moving average is $90.50 and its 200 day moving average is $100.98.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Walt Disney Company will post 4.92 earnings per share for the current year.

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.