Walt Disney’s (DIS) Buy Rating Reiterated at Needham & Company LLC

Walt Disney (NYSE:DIS)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $130.00 price objective on the entertainment giant’s stock. Needham & Company LLC’s price objective suggests a potential upside of 17.75% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Piper Sandler began coverage on Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective on the stock. Evercore ISI upped their price target on Walt Disney from $128.00 to $134.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Bank of America boosted their target price on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Sanford C. Bernstein lifted their price target on shares of Walt Disney from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, Prescient Securities dropped their target price on shares of Walt Disney from $130.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.65.

Walt Disney Price Performance

Shares of NYSE:DIS opened at $110.41 on Wednesday. Walt Disney has a 12 month low of $83.91 and a 12 month high of $123.74. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The stock has a market cap of $199.67 billion, a P/E ratio of 40.74, a P/E/G ratio of 2.02 and a beta of 1.42. The company has a 50 day moving average of $112.26 and a 200 day moving average of $100.89.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. As a group, sell-side analysts forecast that Walt Disney will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling at Walt Disney

In related news, EVP Brent Woodford sold 8,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at approximately $5,054,870.70. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert A. Iger sold 372,412 shares of Walt Disney stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of the transaction, the chief executive officer now owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,412 shares of company stock valued at $44,153,263 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Walt Disney

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its position in shares of Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock valued at $2,137,637,000 after buying an additional 3,636,742 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Walt Disney by 12,574.4% during the 3rd quarter. International Assets Investment Management LLC now owns 3,426,393 shares of the entertainment giant’s stock valued at $329,585,000 after acquiring an additional 3,399,359 shares during the period. FMR LLC grew its holdings in Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after acquiring an additional 2,765,389 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Walt Disney by 15.5% during the 4th quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock worth $1,904,563,000 after acquiring an additional 2,300,912 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Walt Disney by 114.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,307,794 shares of the entertainment giant’s stock worth $414,582,000 after acquiring an additional 2,298,921 shares in the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

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.