Walt Disney (NYSE:DIS) Sets New 1-Year High – Here’s What Happened

Shares of The Walt Disney Company (NYSE:DIS) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $118.73 and last traded at $118.7720, with a volume of 1,568,915 shares traded. The stock had previously closed at $114.18.

Trending Headlines about Walt Disney

Here are the key news stories impacting Walt Disney this week:

• Positive Sentiment: Disney is reportedly targeting up to 20% in cost savings, including thousands of potential job cuts, with savings intended for reinvestment in parks, cruises and programming. Successful execution could lift margins, though the plans remain a source of uncertainty. Disney Is Planning Thousands of Layoffs in Search of 20% Cost Savings
• Positive Sentiment: An investing commentary argues that Disney’s growth is accelerating and the shares remain attractively priced relative to its earnings target. Separately, ETFs bought $56.5 million of Disney shares on Nov. 3, indicating some investment demand. Why one investor remains confident in Disney ETFs Are Buying Disney
• Neutral Sentiment: EVP Brent Woodford sold 3,618 shares for about $423,000 under a pre-arranged Rule 10b5-1 plan, while retaining 62,995 shares. The planned transaction may have limited signaling value. Disney insider trading report
• Negative Sentiment: Disney employees pressed management for details about the timing of another possible layoff round. Uncertainty around workforce reductions could raise concerns about morale and execution as the company pursues savings. Disney employees press management about possible layoffs
• Negative Sentiment: A market commentary says Netflix is pulling ahead of Disney, highlighting competitive pressure in streaming and prompting questions about whether Disney’s shares offer an attractive entry point. Disney struggles as Netflix pulls away

Wall Street Analyst Weigh In

Several analysts have issued reports on DIS shares. Truist Financial set a $115.00 target price on shares of Walt Disney in a research note on Monday, August 3rd. Raymond James Financial reduced their price target on shares of Walt Disney from $120.00 to $119.00 and set an “outperform” rating for the company in a research report on Monday, October 5th. Weiss Ratings raised shares of Walt Disney from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Wells Fargo & Company increased their price objective on Walt Disney from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Yorkville Ives began coverage on Walt Disney in a research note on Tuesday, October 6th. They set an “outperform” rating and a $125.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Walt Disney currently has an average rating of “Moderate Buy” and a consensus price target of $128.16.

Walt Disney Stock Performance

The company’s 50-day moving average is $107.86 and its two-hundred day moving average is $103.64. The company has a market capitalization of $202.71 billion, a P/E ratio of 24.21, a PEG ratio of 1.38 and a beta of 1.44. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, August 5th. The entertainment giant reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.20. Walt Disney had a net margin of 8.70% and a return on equity of 9.90%. The business had revenue of $25.25 billion during the quarter, compared to analyst estimates of $25.39 billion. During the same period in the previous year, the business posted $1.61 earnings per share. Walt Disney’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that The Walt Disney Company will post 6.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, EVP Brent Woodford sold 3,618 shares of Walt Disney stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $117.00, for a total transaction of $423,306.00. Following the completion of the sale, the executive vice president owned 62,995 shares of the company’s stock, valued at $7,370,415. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul M. Roeder sold 3,596 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $106.32, for a total value of $382,326.72. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,018 shares of company stock worth $3,380,391. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Walt Disney

Institutional investors have recently made changes to their positions in the business. Highland Investment Advisors LLC purchased a new stake in shares of Walt Disney during the 2nd quarter valued at about $25,000. Marquette Asset Management LLC grew its stake in shares of Walt Disney by 316.4% in the second quarter. Marquette Asset Management LLC now owns 279 shares of the entertainment giant’s stock worth $27,000 after acquiring an additional 212 shares during the period. Putney Financial Group LLC purchased a new position in shares of Walt Disney during the third quarter valued at approximately $34,000. Ballast Advisors LLC purchased a new position in shares of Walt Disney during the first quarter valued at approximately $37,000. Finally, Boit C F David bought a new position in Walt Disney during the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

About Walt Disney

The Walt Disney Company is a global entertainment and media company whose businesses include film and television production, streaming, sports programming, and theme parks and resorts. Its brands and properties include Disney, Pixar, Marvel, Star Wars, ABC, and ESPN.

Disney produces and distributes films and television programs, operates streaming services including Disney+ and Hulu, and provides sports content through ESPN. Its Experiences business operates theme parks and resorts, cruise ships, and other travel and consumer experiences based on the company’s characters and stories.

Founded in 1923 by Walt Disney and Roy O.