CNB Bank Raises Stock Holdings in The Walt Disney Company (NYSE:DIS)

CNB Bank increased its stake in shares of The Walt Disney Company (NYSE:DIS) by 21.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,758 shares of the entertainment giant’s stock after purchasing an additional 1,358 shares during the quarter. CNB Bank’s holdings in Walt Disney were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ESL Trust Services LLC purchased a new stake in shares of Walt Disney during the first quarter worth about $31,000. William B. Walkup & Associates Inc. purchased a new position in shares of Walt Disney during the second quarter valued at approximately $32,000. Mascoma Wealth Management LLC boosted its position in Walt Disney by 38.0% during the second quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock worth $44,000 after acquiring an additional 122 shares during the last quarter. Red Tortoise LLC grew its stake in Walt Disney by 141.4% in the 1st quarter. Red Tortoise LLC now owns 367 shares of the entertainment giant’s stock worth $45,000 after acquiring an additional 215 shares during the period. Finally, First PREMIER Bank raised its holdings in Walt Disney by 98.1% in the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Insider Activity at Walt Disney

In other news, Director Calvin Mcdonald acquired 11,756 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $85.06 per share, for a total transaction 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. This represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DIS. The Goldman Sachs Group initiated coverage on Walt Disney in a report on Tuesday, June 25th. They set a “buy” rating and a $125.00 price objective on the stock. Barclays decreased their price target on Walt Disney from $130.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company dropped their price objective on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley decreased their target price on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Moffett Nathanson lowered their target price 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. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Walt Disney presently has an average rating of “Moderate Buy” and an average price target of $118.05.

Walt Disney Price Performance

Shares of NYSE DIS opened at $97.28 on Friday. 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 Walt Disney Company has a 1-year low of $79.23 and a 1-year high of $123.74. The company has a market capitalization of $177.35 billion, a price-to-earnings ratio of 105.74, a PEG ratio of 1.49 and a beta of 1.40. The business has a 50-day moving average of $91.72 and a 200-day moving average of $98.89.

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

Walt Disney Company 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.