Royal Bank of Canada reissued their buy rating on shares of Walt Disney (NYSE:DIS) in a research report sent to investors on Wednesday. They currently have a $140.00 price objective on the entertainment giant’s stock.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Walt Disney from a hold rating to a buy rating and set a $122.00 price target for the company in a research report on Monday, June 18th. Vetr lowered Walt Disney from a strong-buy rating to a buy rating and set a $113.88 price target for the company. in a research report on Wednesday, April 18th. Bank of America started coverage on Walt Disney in a research report on Friday, July 20th. They issued a buy rating and a $144.00 price target for the company. B. Riley reduced their price target on Walt Disney from $123.00 to $121.00 and set a buy rating for the company in a research report on Wednesday. Finally, Pivotal Research raised Walt Disney from a sell rating to a hold rating and reduced their price target for the stock from $94.00 to $93.00 in a research report on Tuesday, April 17th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $118.92.
Walt Disney traded down $1.48, reaching $112.68, on Wednesday, according to Marketbeat Ratings. 5,739,040 shares of the stock traded hands, compared to its average volume of 8,518,572. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 0.35. The firm has a market cap of $169.78 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.50 and a beta of 1.35. Walt Disney has a 12 month low of $96.20 and a 12 month high of $117.90.
Walt Disney (NYSE:DIS) last issued its earnings results on Tuesday, August 7th. The entertainment giant reported $1.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($0.10). The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $15.49 billion. Walt Disney had a net margin of 20.76% and a return on equity of 21.37%. During the same period last year, the firm earned $1.58 earnings per share. research analysts expect that Walt Disney will post 6.96 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which was paid on Thursday, July 26th. Investors of record on Monday, July 9th were paid a dividend of $0.84 per share. This represents a yield of 1.62%. This is an increase from Walt Disney’s previous semiannual dividend of $0.78. The ex-dividend date was Friday, July 6th. Walt Disney’s payout ratio is 29.47%.
In related news, EVP Brent Woodford sold 768 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $104.35, for a total transaction of $80,140.80. Following the transaction, the executive vice president now directly owns 28,493 shares in the company, valued at approximately $2,973,244.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Robert A. Iger sold 437,679 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $115.00, for a total value of $50,333,085.00. Following the transaction, the chairman now owns 1,498,871 shares in the company, valued at $172,370,165. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 710,002 shares of company stock worth $80,514,432. 0.38% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in DIS. Marietta Wealth Management LLC grew its stake in Walt Disney by 2.5% during the 4th quarter. Marietta Wealth Management LLC now owns 26,985 shares of the entertainment giant’s stock valued at $2,901,000 after purchasing an additional 653 shares during the last quarter. Carmichael Hill & Associates Inc. purchased a new stake in Walt Disney during the 4th quarter valued at about $262,000. Chilton Investment Co. LLC grew its stake in Walt Disney by 3.3% during the 4th quarter. Chilton Investment Co. LLC now owns 583,822 shares of the entertainment giant’s stock valued at $62,767,000 after purchasing an additional 18,440 shares during the last quarter. Benchmark Capital Advisors grew its stake in Walt Disney by 171.3% during the 4th quarter. Benchmark Capital Advisors now owns 9,632 shares of the entertainment giant’s stock valued at $1,036,000 after purchasing an additional 6,082 shares during the last quarter. Finally, Gratus Capital LLC grew its stake in Walt Disney by 643.5% during the 4th quarter. Gratus Capital LLC now owns 64,458 shares of the entertainment giant’s stock valued at $6,930,000 after purchasing an additional 55,789 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.
About Walt Disney
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.
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