Stonegate Investment Group LLC Grows Stake in The Walt Disney Company (NYSE:DIS)

Stonegate Investment Group LLC grew its position in shares of The Walt Disney Company (NYSE:DIS) by 3.5% in the first quarter, Holdings Channel reports. The firm owned 497,027 shares of the entertainment giant’s stock after purchasing an additional 16,877 shares during the period. Stonegate Investment Group LLC’s holdings in Walt Disney were worth $49,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Walt Disney in the fourth quarter worth $2,415,427,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Walt Disney by 1,900.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,735,961 shares of the entertainment giant’s stock worth $638,699,000 after purchasing an additional 5,449,158 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Walt Disney by 75.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 10,858,108 shares of the entertainment giant’s stock worth $1,209,050,000 after purchasing an additional 4,680,930 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Walt Disney in the fourth quarter worth $358,151,000. Finally, Boston Partners bought a new stake in Walt Disney in the fourth quarter worth $350,707,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Walt Disney Trading Down 0.2%

NYSE:DIS opened at $117.61 on Friday. The company’s 50 day moving average price is $104.69 and its 200-day moving average price is $105.88. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $120.50. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.34. The stock has a market cap of $211.44 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.73 and a beta of 1.54.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.24. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. The firm had revenue of $23.62 billion for the quarter, compared to analysts’ expectations of $23.15 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays boosted their price target on shares of Walt Disney from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Wolfe Research raised shares of Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price target for the company in a research note on Monday, April 21st. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target on shares of Walt Disney in a research note on Thursday, May 8th. Guggenheim lowered their price objective on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Rosenblatt Securities upped their price objective on shares of Walt Disney from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.96.

Walt Disney Profile

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.