Cornerstone Wealth Group LLC Sells 33,422 Shares of The Walt Disney Company (NYSE:DIS)

Cornerstone Wealth Group LLC lessened its stake in shares of The Walt Disney Company (NYSE:DIS) by 80.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,319 shares of the entertainment giant’s stock after selling 33,422 shares during the period. Cornerstone Wealth Group LLC’s holdings in Walt Disney were worth $821,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of DIS. Geode Capital Management LLC grew its position in shares of Walt Disney by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 38,482,309 shares of the entertainment giant’s stock worth $4,272,590,000 after buying an additional 809,989 shares in the last quarter. Northern Trust Corp lifted its stake in 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 acquiring an additional 2,096,431 shares during the period. Norges Bank bought a new position in Walt Disney during the 4th quarter worth about $2,415,427,000. Bank of New York Mellon Corp increased its position in Walt Disney by 15.5% during the 4th quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock valued at $1,904,563,000 after purchasing an additional 2,300,912 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Walt Disney by 21.8% in the 4th 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 valued at $1,878,142,000 after purchasing an additional 3,016,339 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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 report on Tuesday, June 10th. Wolfe Research upgraded Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 target price on the stock in a research note on Monday, April 21st. Guggenheim decreased their price target on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Barclays lifted their price objective on shares of Walt Disney from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, UBS Group increased their target price on shares of Walt Disney from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.96.

Walt Disney Trading Up 0.9%

Shares of NYSE:DIS opened at $118.81 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 Walt Disney Company has a 12-month low of $80.10 and a 12-month high of $120.50. The business has a 50 day moving average of $106.03 and a two-hundred day moving average of $105.83. The company has a market capitalization of $213.59 billion, a PE ratio of 24.30, a PEG ratio of 1.73 and a beta of 1.54.

Walt Disney (NYSE:DIS) last posted 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. 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 during the quarter, compared to analyst estimates of $23.15 billion. During the same period in the previous year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts forecast that The Walt Disney Company will post 5.47 EPS for the current year.

Insiders Place Their Bets

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 value of $110,840.00. Following the completion of the sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Walt Disney Company 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.