The Walt Disney Company $DIS Holdings Increased by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of The Walt Disney Company (NYSE:DIS) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 506,366 shares of the entertainment giant’s stock after buying an additional 15,900 shares during the quarter. State of Michigan Retirement System’s holdings in Walt Disney were worth $62,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Walt Disney during the 1st quarter worth about $26,000. DiNuzzo Private Wealth Inc. raised its position in shares of Walt Disney by 82.5% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 208 shares of the entertainment giant’s stock worth $26,000 after buying an additional 94 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of Walt Disney during the 2nd quarter worth about $37,000. RMG Wealth Management LLC bought a new stake in shares of Walt Disney during the 2nd quarter worth about $49,000. Finally, Core Alternative Capital raised its position in shares of Walt Disney by 71.0% during the 1st quarter. Core Alternative Capital now owns 542 shares of the entertainment giant’s stock worth $53,000 after buying an additional 225 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on DIS. Jefferies Financial Group downgraded shares of Walt Disney from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Barclays boosted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Citigroup boosted their target price on shares of Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. UBS Group boosted their target price on shares of Walt Disney from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Walt Disney in a report on Monday, August 11th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.90.

Walt Disney Stock Performance

Shares of DIS opened at $112.70 on Friday. The company’s 50 day moving average price is $114.12 and its 200 day moving average price is $112.88. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69. The company has a market capitalization of $202.63 billion, a PE ratio of 17.66, a PEG ratio of 1.45 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72.

Walt Disney (NYSE:DIS) last announced its quarterly earnings data on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.16. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. The firm had revenue of $23.65 billion for the quarter, compared to the consensus estimate of $23.69 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Research analysts expect that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

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.