Gabelli Funds LLC Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Gabelli Funds LLC trimmed its position in The Walt Disney Company (NYSE:DIS) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,275 shares of the entertainment giant’s stock after selling 12,060 shares during the period. Gabelli Funds LLC’s holdings in Walt Disney were worth $25,942,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Walt Disney by 1.5% in the first quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock valued at $18,815,185,000 after acquiring an additional 2,325,582 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Walt Disney by 10.8% in the second quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock valued at $1,477,831,000 after purchasing an additional 1,449,730 shares during the period. Jennison Associates LLC purchased a new stake in Walt Disney in the 1st quarter valued at approximately $1,490,492,000. Price T Rowe Associates Inc. MD increased its position in Walt Disney by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,040,297 shares of the entertainment giant’s stock worth $1,473,252,000 after purchasing an additional 293,482 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Walt Disney by 4.4% during the 4th quarter. Fisher Asset Management LLC now owns 7,201,556 shares of the entertainment giant’s stock worth $650,229,000 after buying an additional 306,676 shares in the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Needham & Company LLC decreased their price target on Walt Disney from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Loop Capital lowered their price target on shares of Walt Disney from $139.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Moffett Nathanson cut their price target on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Wells Fargo & Company decreased their price objective on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.43.

Walt Disney Price Performance

Shares of NYSE:DIS opened at $93.75 on Monday. The company has a market cap of $170.91 billion, a P/E ratio of 101.90, a P/E/G ratio of 1.31 and a beta of 1.40. The business has a fifty day simple moving average of $90.67 and a 200-day simple moving average of $101.83. The Walt Disney Company has a 52 week low of $78.73 and a 52 week high of $123.74. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38.

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

Insider Activity at Walt Disney

In related news, Director Calvin Mcdonald purchased 11,756 shares of the business’s 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 completion of the purchase, the director now directly owns 22,313 shares in the company, valued at approximately $1,897,943.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by insiders.

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.