Pegasus Asset Management Inc. Boosts Stake in The Walt Disney Company (NYSE:DIS)

Pegasus Asset Management Inc. raised its position in shares of The Walt Disney Company (NYSE:DIS) by 4.2% in the first quarter, Holdings Channel.com reports. The fund owned 36,211 shares of the entertainment giant’s stock after buying an additional 1,466 shares during the quarter. Walt Disney comprises approximately 1.4% of Pegasus Asset Management Inc.’s holdings, making the stock its 27th largest position. Pegasus Asset Management Inc.’s holdings in Walt Disney were worth $3,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Walt Disney by 2.2% during the fourth 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 boosted its position in shares of Walt Disney by 10.4% in the fourth quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant’s stock worth $2,476,693,000 after buying an additional 2,096,431 shares during the period. Norges Bank purchased a new stake in shares of Walt Disney in the fourth quarter worth about $2,415,427,000. Bank of New York Mellon Corp boosted its position in shares of 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 buying an additional 2,300,912 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Walt Disney by 21.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,867,017 shares of the entertainment giant’s stock worth $1,878,142,000 after buying an additional 3,016,339 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Transactions at Walt Disney

In related news, EVP Brent Woodford sold 1,000 shares of the firm’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 value of $110,840.00. Following the sale, the executive vice president now directly owns 46,831 shares in the company, valued at $5,190,748.04. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Walt Disney Stock Down 1.1%

Shares of Walt Disney stock opened at $118.18 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $102.86 and its 200-day simple moving average is $105.79. The stock has a market capitalization of $212.46 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.75 and a beta of 1.54. The Walt Disney Company has a twelve month low of $80.10 and a twelve month high of $120.50.

Walt Disney (NYSE:DIS) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $23.15 billion. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Equities research analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

DIS has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 target price on shares of Walt Disney in a research report on Thursday, May 8th. Barclays upped their target price on Walt Disney from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Morgan Stanley upped their target price on Walt Disney from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Loop Capital boosted their price target on Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Finally, Rosenblatt Securities raised their price objective on Walt Disney from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walt Disney presently has an average rating of “Moderate Buy” and an average price target of $123.96.

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.