Cornerstone Wealth Group LLC Acquires 2,898 Shares of The Walt Disney Company (NYSE:DIS)

Cornerstone Wealth Group LLC grew its holdings in shares of The Walt Disney Company (NYSE:DIS) by 7.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 40,023 shares of the entertainment giant’s stock after buying an additional 2,898 shares during the period. Cornerstone Wealth Group LLC’s holdings in Walt Disney were worth $4,897,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Planned Solutions Inc. bought a new stake in shares of Walt Disney during the 4th quarter valued at $26,000. Gold Investment Management Ltd. bought a new position in Walt Disney in the 4th quarter worth about $28,000. Partnership Wealth Management LLC bought a new position in Walt Disney in the 4th quarter worth about $33,000. Stone House Investment Management LLC boosted its stake in Walt Disney by 355.3% in the 4th quarter. Stone House Investment Management LLC now owns 346 shares of the entertainment giant’s stock worth $31,000 after purchasing an additional 270 shares in the last quarter. Finally, Fortis Group Advisors LLC bought a new position in Walt Disney during the 3rd quarter valued at about $30,000. Institutional investors own 65.71% of the company’s stock.

Walt Disney Price Performance

Shares of NYSE DIS traded down $2.88 during midday trading on Friday, reaching $99.29. 21,439,416 shares of the stock traded hands, compared to its average volume of 8,740,152. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.75 and a quick ratio of 0.69. The stock has a market capitalization of $181.01 billion, a PE ratio of 107.93, a P/E/G ratio of 1.23 and a beta of 1.40. The Walt Disney Company has a one year low of $78.73 and a one year high of $123.74. The company’s 50 day moving average is $104.76 and its 200 day moving average is $104.66.

Walt Disney (NYSE:DIS) last posted its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.12 billion. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. On average, equities research analysts anticipate that The Walt Disney Company will post 4.76 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James P. Gorman purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average cost of $106.03 per share, for a total transaction of $2,120,600.00. Following the completion of the transaction, the director now directly owns 20,467 shares in the company, valued at $2,170,116.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Walt Disney news, EVP Sonia L. Coleman sold 4,400 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $106.00, for a total value of $466,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James P. Gorman bought 20,000 shares of Walt Disney stock in a transaction on Wednesday, May 8th. The stock was acquired at an average price of $106.03 per share, for a total transaction of $2,120,600.00. Following the purchase, the director now owns 20,467 shares of the company’s stock, valued at $2,170,116.01. The disclosure for this purchase can be found here. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DIS. Daiwa Capital Markets restated a “buy” rating and set a $133.00 target price on shares of Walt Disney in a research note on Monday, April 1st. JPMorgan Chase & Co. initiated coverage on shares of Walt Disney in a research note on Thursday, April 11th. They set an “overweight” rating and a $140.00 target price on the stock. Morgan Stanley upped their price target on shares of Walt Disney from $110.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Walt Disney in a research report on Tuesday, May 7th. Finally, Guggenheim upped their price target on shares of Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.50.

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.