The Walt Disney Company (NYSE:DIS) Shares Sold by Covea Finance

Covea Finance lessened its position in shares of The Walt Disney Company (NYSE:DIS) by 23.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 410,771 shares of the entertainment giant’s stock after selling 125,105 shares during the quarter. Walt Disney makes up about 1.8% of Covea Finance’s holdings, making the stock its 16th largest position. Covea Finance’s holdings in Walt Disney were worth $40,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DIS. Geode Capital Management LLC raised its stake 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 valued at $4,272,590,000 after purchasing an additional 809,989 shares during the last quarter. Northern Trust Corp raised its stake 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 purchasing an additional 2,096,431 shares during the last quarter. Norges Bank acquired a new position in Walt Disney in the 4th quarter valued at about $2,415,427,000. Bank of New York Mellon Corp raised its stake in Walt Disney by 15.5% in the 4th quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock valued at $1,904,563,000 after purchasing an additional 2,300,912 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Walt Disney by 21.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,867,017 shares of the entertainment giant’s stock valued at $1,878,142,000 after purchasing an additional 3,016,339 shares during the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of Walt Disney from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Guggenheim cut their target price on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. UBS Group boosted their target price on shares of Walt Disney from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Rosenblatt Securities lifted their price target on Walt Disney from $135.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Finally, Wolfe Research upgraded Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price target for the company in a report on Monday, April 21st. Six research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.96.

Insiders Place Their Bets

In other Walt Disney news, EVP Brent Woodford sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president now owns 46,831 shares in the company, valued at $5,190,748.04. This represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Walt Disney Stock Down 0.2%

Shares of NYSE:DIS opened at $117.61 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.67. The Walt Disney Company has a 1 year low of $80.10 and a 1 year high of $120.50. The stock has a market capitalization of $211.44 billion, a P/E ratio of 24.05, a PEG ratio of 1.73 and a beta of 1.54. The stock has a 50-day simple moving average of $104.69 and a 200-day simple moving average of $105.88.

Walt Disney (NYSE:DIS) last issued its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.24. The business had revenue of $23.62 billion during the quarter, compared to analysts’ expectations of $23.15 billion. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. Equities analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current year.

Walt Disney 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.