Novem Group Takes Position in The Walt Disney Company (NYSE:DIS)

Novem Group bought a new stake in The Walt Disney Company (NYSE:DIS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,451 shares of the entertainment giant’s stock, valued at approximately $162,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased 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 during the period. Northern Trust Corp lifted its holdings in shares of 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 buying an additional 2,096,431 shares during the period. Norges Bank acquired a new position in Walt Disney during the fourth quarter worth $2,415,427,000. Jennison Associates LLC grew its holdings in Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock worth $2,137,637,000 after acquiring an additional 3,636,742 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Walt Disney by 15.5% in the fourth quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock worth $1,904,563,000 after acquiring an additional 2,300,912 shares in the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Down 1.3%

Shares of Walt Disney stock opened at $109.73 on Friday. The business has a 50-day moving average of $95.89 and a 200-day moving average of $105.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62. The company has a market capitalization of $197.27 billion, a PE ratio of 35.74, a P/E/G ratio of 1.80 and a beta of 1.49. The Walt Disney Company has a 1-year low of $80.10 and a 1-year high of $118.63.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.24. The company had revenue of $23.62 billion during the quarter, compared to the consensus estimate of $23.15 billion. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. As a group, equities analysts forecast that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Brent Woodford sold 1,000 shares of Walt Disney stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president now directly owns 46,831 shares in the company, valued at approximately $5,190,748.04. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Walt Disney from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. UBS Group increased their price objective on Walt Disney from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Loop Capital increased their price objective on Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group upped their price target on Walt Disney from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Prescient Securities lowered their price target on Walt Disney from $130.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Walt Disney has an average rating of “Moderate Buy” and an average price target of $123.54.

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.