Walt Disney (NYSE:DIS) Stock Price Up 0.6% – Here’s Why

Shares of The Walt Disney Company (NYSE:DIS) were up 0.6% during mid-day trading on Friday . The company traded as high as $94.88 and last traded at $94.19. Approximately 1,305,247 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 11,082,202 shares. The stock had previously closed at $93.63.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Evercore ISI decreased their price target on Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of Walt Disney in a research report on Thursday, September 26th. Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their price target 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. Finally, The Goldman Sachs Group began coverage on shares of Walt Disney in a report on Tuesday, June 25th. They set a “buy” rating and a $125.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Walt Disney currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.43.

Walt Disney Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66. The firm has a market capitalization of $172.15 billion, a PE ratio of 102.38, a P/E/G ratio of 1.53 and a beta of 1.40. The firm has a fifty day moving average price of $90.68 and a 200 day moving average price of $100.88.

Walt Disney (NYSE:DIS) last released its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.19. The business had revenue of $23.20 billion for the quarter, compared to the consensus estimate of $23.08 billion. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Research analysts anticipate that The Walt Disney Company will post 4.92 earnings per share for the current fiscal year.

Insider Activity

In other Walt Disney news, Director Calvin Mcdonald bought 11,756 shares of the stock in a transaction on 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 purchase, the director now directly owns 22,313 shares in the company, valued at $1,897,943.78. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Walt Disney

A number of hedge funds have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Walt Disney by 84.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,000,267 shares of the entertainment giant’s stock valued at $244,754,000 after buying an additional 916,772 shares during the last quarter. Jennison Associates LLC bought a new stake in Walt Disney in the first quarter worth approximately $1,490,492,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Walt Disney by 4.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 556,658 shares of the entertainment giant’s stock worth $68,113,000 after purchasing an additional 22,568 shares during the last quarter. Rheos Capital Works Inc. raised its holdings in shares of Walt Disney by 41.3% during the 1st quarter. Rheos Capital Works Inc. now owns 175,900 shares of the entertainment giant’s stock valued at $21,523,000 after purchasing an additional 51,400 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Walt Disney by 555.9% in the 1st quarter. Nordea Investment Management AB now owns 956,788 shares of the entertainment giant’s stock valued at $117,599,000 after purchasing an additional 810,923 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

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.