Karpus Management Inc. Has $883,000 Stake in The Walt Disney Company (NYSE:DIS)

Karpus Management Inc. raised its stake in The Walt Disney Company (NYSE:DIS) by 90.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,787 shares of the entertainment giant’s stock after buying an additional 2,272 shares during the period. Karpus Management Inc.’s holdings in The Walt Disney were worth $883,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DIS. Norges Bank bought a new stake in shares of The Walt Disney in the fourth quarter worth about $3,003,286,000. Price T Rowe Associates Inc. MD increased its holdings in shares of The Walt Disney by 37.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,494,013 shares of the entertainment giant’s stock worth $3,531,925,000 after acquiring an additional 5,288,711 shares in the last quarter. Viking Global Investors LP bought a new stake in shares of The Walt Disney in the fourth quarter worth about $773,911,000. Morgan Stanley increased its holdings in shares of The Walt Disney by 11.4% in the fourth quarter. Morgan Stanley now owns 32,108,070 shares of the entertainment giant’s stock worth $5,817,340,000 after acquiring an additional 3,291,751 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of The Walt Disney by 306.8% in the first quarter. Assenagon Asset Management S.A. now owns 2,015,341 shares of the entertainment giant’s stock worth $371,871,000 after acquiring an additional 1,519,885 shares in the last quarter. 63.84% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Chairman Robert A. Iger sold 550,570 shares of The Walt Disney stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $179.21, for a total value of $98,667,649.70. Following the transaction, the chairman now owns 569,131 shares in the company, valued at approximately $101,993,966.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan E. Arnold sold 8,400 shares of The Walt Disney stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $177.75, for a total value of $1,493,100.00. Following the completion of the transaction, the director now owns 41,498 shares in the company, valued at approximately $7,376,269.50. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

NYSE:DIS opened at $176.89 on Thursday. The firm has a market cap of $321.40 billion, a PE ratio of 178.54, a P/E/G ratio of 3.61 and a beta of 1.19. The business’s 50 day moving average price is $176.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.23. The Walt Disney Company has a 1-year low of $113.37 and a 1-year high of $203.02.

The Walt Disney (NYSE:DIS) last released its quarterly earnings results on Thursday, May 13th. The entertainment giant reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.52. The business had revenue of $15.61 billion during the quarter, compared to analysts’ expectations of $15.99 billion. The Walt Disney had a positive return on equity of 2.07% and a negative net margin of 7.73%. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. As a group, equities research analysts predict that The Walt Disney Company will post 2.33 earnings per share for the current fiscal year.

DIS has been the subject of a number of research reports. Sanford C. Bernstein reiterated a “neutral” rating and set a $163.00 price objective on shares of The Walt Disney in a report on Friday, May 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on The Walt Disney from $222.00 to $213.00 and set a “buy” rating for the company in a report on Tuesday, May 18th. Truist Securities decreased their price objective on The Walt Disney from $205.00 to $200.00 and set a “buy” rating for the company in a report on Monday, May 17th. Truist decreased their price objective on The Walt Disney from $205.00 to $200.00 and set a “buy” rating for the company in a report on Monday, May 17th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group decreased their price objective on The Walt Disney from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 14th. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $204.88.

The Walt Disney Company Profile

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates domestic cable networks under the Disney, ESPN, Freeform, FX, and National Geographic brands; and television broadcast network under the ABC brand, as well as eight domestic television stations.

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Institutional Ownership by Quarter for The Walt Disney (NYSE:DIS)

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