Piper Sandler Initiates Coverage on Walt Disney (NYSE:DIS)

Equities research analysts at Piper Sandler assumed coverage on shares of Walt Disney (NYSE:DIS) in a research note issued to investors on Wednesday, MarketBeat reports. The firm set a “neutral” rating and a $95.00 price target on the entertainment giant’s stock. Piper Sandler’s price target would indicate a potential downside of 1.58% from the company’s previous close.

A number of other equities analysts have also recently weighed in on DIS. UBS Group dropped their price target on Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI cut their price target on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $110.00 price target on shares of Walt Disney in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company decreased their target price on Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.05.

Walt Disney Stock Down 0.2 %

DIS stock opened at $96.53 on Wednesday. The firm has a market cap of $175.98 billion, a PE ratio of 104.92, a P/E/G ratio of 1.49 and a beta of 1.40. Walt Disney has a 12 month low of $79.23 and a 12 month high of $123.74. 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 50 day simple moving average of $91.50 and a 200 day simple moving average of $99.22.

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

Insider Buying and Selling at Walt Disney

In related news, Director Calvin Mcdonald acquired 11,756 shares of the stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $85.06 per share, with a total value of $999,965.36. Following the acquisition, the director now owns 22,313 shares in the company, valued at approximately $1,897,943.78. The trade was a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. raised its stake in shares of Walt Disney by 84.6% in the first 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 purchasing an additional 916,772 shares in the last quarter. Jennison Associates LLC bought a new stake in Walt Disney in the first quarter valued at about $1,490,492,000. Mirae Asset Global Investments Co. Ltd. raised its position in Walt Disney by 4.2% in the first 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 in the last quarter. Rheos Capital Works Inc. lifted its stake in Walt Disney by 41.3% during the first quarter. Rheos Capital Works Inc. now owns 175,900 shares of the entertainment giant’s stock worth $21,523,000 after purchasing an additional 51,400 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Walt Disney by 555.9% during the first 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 in the last quarter. Institutional investors own 65.71% of the company’s stock.

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.