Rockland Trust Co. Cuts Stock Position in The Walt Disney Company (NYSE:DIS)

Rockland Trust Co. lowered its stake in The Walt Disney Company (NYSE:DIS) by 8.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,375 shares of the entertainment giant’s stock after selling 899 shares during the period. Rockland Trust Co.’s holdings in Walt Disney were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position 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 acquiring an additional 809,989 shares in the last quarter. Northern Trust Corp lifted 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 in the last quarter. Norges Bank bought a new position in Walt Disney in the 4th quarter valued at approximately $2,415,427,000. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 2,300,912 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 3,016,339 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DIS. Rosenblatt Securities upped their price objective on Walt Disney from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Wolfe Research raised Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price objective on the stock in a research report on Monday, April 21st. Guggenheim lowered their price target on Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Morgan Stanley increased their price target on Walt Disney from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Barclays increased their price target on Walt Disney from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.96.

Insider Activity

In related news, EVP Brent Woodford sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president now owns 46,831 shares in the company, valued at approximately $5,190,748.04. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Walt Disney Price Performance

NYSE:DIS opened at $117.85 on Friday. The business’s 50-day simple moving average is $101.58 and its two-hundred day simple moving average is $105.92. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $120.50. The stock has a market cap of $211.86 billion, a PE ratio of 38.39, a P/E/G ratio of 1.80 and a beta of 1.54. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.36.

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, beating the consensus estimate of $1.21 by $0.24. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. The company had revenue of $23.62 billion for the quarter, compared to the consensus estimate of $23.15 billion. During the same quarter last year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts forecast that The Walt Disney Company will post 5.47 EPS for the current fiscal 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.