Walt Disney (NYSE:DIS) Trading Down 7% – Here’s What Happened

The Walt Disney Company (NYSE:DIS) traded down 7% during trading on Thursday . The stock traded as low as $91.00 and last traded at $91.05. 5,679,036 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 9,767,478 shares. The stock had previously closed at $97.88.

Analysts Set New Price Targets

DIS has been the topic of several recent research reports. Loop Capital upped their target price on shares of Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Walt Disney in a research note on Wednesday, February 5th. Rosenblatt Securities reissued a “buy” rating and set a $135.00 target price on shares of Walt Disney in a research note on Monday, February 10th. The Goldman Sachs Group increased their price target on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Macquarie reiterated a “neutral” rating and issued a $110.00 price objective on shares of Walt Disney in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $125.33.

Walt Disney Trading Down 9.4 %

The business has a 50 day moving average price of $106.70 and a 200-day moving average price of $105.37. The firm has a market capitalization of $160.30 billion, a PE ratio of 28.88, a P/E/G ratio of 1.80 and a beta of 1.41. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. Analysts expect that The Walt Disney Company will post 5.47 earnings per share for the current year.

Institutional Investors Weigh In On Walt Disney

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Walt Disney by 0.6% in the third quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after acquiring an additional 490,681 shares during the last quarter. Geode Capital Management LLC grew its holdings in Walt Disney by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 38,482,309 shares of the entertainment giant’s stock worth $4,272,590,000 after buying an additional 809,989 shares in the last quarter. Northern Trust Corp increased its position in Walt Disney by 10.4% in the 4th quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant’s stock valued at $2,476,693,000 after acquiring an additional 2,096,431 shares during the period. Norges Bank bought a new stake in Walt Disney during the 4th quarter valued at $2,415,427,000. Finally, Jennison Associates LLC boosted its position in Walt Disney by 23.4% during the 4th quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock worth $2,137,637,000 after acquiring an additional 3,636,742 shares during the period. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

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.