Confluence Investment Management LLC Takes $13.62 Million Position in The Walt Disney Company (NYSE:DIS)

Confluence Investment Management LLC purchased a new stake in shares of The Walt Disney Company (NYSE:DIS) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 138,018 shares of the entertainment giant’s stock, valued at approximately $13,622,000.

Other hedge funds have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new stake in shares of Walt Disney during the fourth quarter valued at about $27,000. FPC Investment Advisory Inc. acquired a new stake in shares of Walt Disney during the fourth quarter valued at about $28,000. Tacita Capital Inc boosted its stake in shares of Walt Disney by 93.2% during the fourth quarter. Tacita Capital Inc now owns 257 shares of the entertainment giant’s stock valued at $29,000 after purchasing an additional 124 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Walt Disney during the fourth quarter valued at about $32,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Walt Disney during the fourth quarter valued at about $34,000. 65.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DIS has been the topic of a number of recent research reports. Wolfe Research raised Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price target on the stock in a research note on Monday, April 21st. Loop Capital raised 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. Prescient Securities lowered their price objective on Walt Disney from $130.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley raised 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. Finally, Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Walt Disney in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Walt Disney has a consensus rating of “Moderate Buy” and a consensus target price of $123.54.

Insider Activity

In other news, EVP Brent Woodford sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president now owns 46,831 shares in the company, valued at $5,190,748.04. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Walt Disney Trading Down 0.7%

Shares of DIS stock opened at $111.55 on Thursday. The company has a market cap of $200.54 billion, a P/E ratio of 36.34, a PEG ratio of 1.80 and a beta of 1.49. The stock has a 50 day simple moving average of $96.59 and a two-hundred day simple moving average of $105.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.68. The Walt Disney Company has a fifty-two week low of $80.10 and a fifty-two week high of $118.63.

Walt Disney (NYSE:DIS) last issued its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.24. The business 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 firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Research analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current 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.