Walt Disney (NYSE:DIS) Shares Down 2.1%

The Walt Disney Company (NYSE:DIS)’s stock price dropped 2.1% during mid-day trading on Thursday . The company traded as low as $110.39 and last traded at $111.54. Approximately 2,556,106 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 11,783,065 shares. The stock had previously closed at $113.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DIS. Argus lifted their price target on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Rosenblatt Securities lifted their price target on Walt Disney from $129.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Guggenheim lifted their price target on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays upgraded Walt Disney from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $95.00 to $135.00 in a research report on Monday, March 25th. Finally, Needham & Company LLC boosted their target price on Walt Disney from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and an average target price of $125.08.

Walt Disney Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.84. The business has a 50 day moving average price of $114.18 and a two-hundred day moving average price of $99.66. The company has a market cap of $206.78 billion, a P/E ratio of 69.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42.

Walt Disney (NYSE:DIS) last released its earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.25. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The company had revenue of $23.50 billion during the quarter, compared to analyst estimates of $23.71 billion. During the same quarter in the previous year, the company posted $0.99 EPS. Walt Disney’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that The Walt Disney Company will post 4.66 earnings per share for the current year.

Walt Disney Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a yield of 0.5%. Walt Disney’s dividend payout ratio is presently 18.52%.

Insider Activity at Walt Disney

In related news, EVP Sonia L. Coleman sold 1,857 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $121.92, for a total transaction of $226,405.44. Following the transaction, the executive vice president now owns 4,400 shares in the company, valued at approximately $536,448. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Planned Solutions Inc. purchased a new position in shares of Walt Disney during the 4th quarter worth approximately $26,000. Gold Investment Management Ltd. purchased a new stake in shares of Walt Disney in the 4th quarter worth approximately $28,000. Fortis Group Advisors LLC purchased a new stake in shares of Walt Disney in the 3rd quarter worth approximately $30,000. Stone House Investment Management LLC lifted its position in Walt Disney by 355.3% in the 4th quarter. Stone House Investment Management LLC now owns 346 shares of the entertainment giant’s stock valued at $31,000 after acquiring an additional 270 shares in the last quarter. Finally, Partnership Wealth Management LLC purchased a new stake in Walt Disney during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

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.