Montecito Bank & Trust Buys 6,247 Shares of The Walt Disney Company (NYSE:DIS)

Montecito Bank & Trust boosted its stake in shares of The Walt Disney Company (NYSE:DIS) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,197 shares of the entertainment giant’s stock after buying an additional 6,247 shares during the period. Montecito Bank & Trust’s holdings in Walt Disney were worth $2,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DIS. Quent Capital LLC increased its position in shares of Walt Disney by 4.4% during the first quarter. Quent Capital LLC now owns 7,766 shares of the entertainment giant’s stock valued at $950,000 after acquiring an additional 327 shares in the last quarter. Advisory Services Network LLC boosted its stake in Walt Disney by 9.4% during the 1st quarter. Advisory Services Network LLC now owns 61,733 shares of the entertainment giant’s stock valued at $7,554,000 after purchasing an additional 5,298 shares during the last quarter. MGB Wealth Management LLC bought a new stake in shares of Walt Disney in the 1st quarter worth $245,000. Empirical Finance LLC raised its stake in shares of Walt Disney by 3.5% in the first quarter. Empirical Finance LLC now owns 66,219 shares of the entertainment giant’s stock worth $8,103,000 after purchasing an additional 2,239 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Walt Disney by 24.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 75,811 shares of the entertainment giant’s stock valued at $9,276,000 after purchasing an additional 14,809 shares in the last quarter. Institutional investors own 65.71% of the company’s stock.

Walt Disney Price Performance

Shares of NYSE:DIS opened at $98.89 on Thursday. The company has a market capitalization of $179.35 billion, a P/E ratio of 38.03, a P/E/G ratio of 1.52 and a beta of 1.40. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74. The firm’s 50 day simple moving average is $93.54 and its two-hundred day simple moving average is $97.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66.

Walt Disney (NYSE:DIS) last issued its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.19. The company had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.08 billion. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. Walt Disney’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Research analysts expect that The Walt Disney Company will post 4.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DIS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Morgan Stanley reduced their price target on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Piper Sandler started coverage on shares of Walt Disney in a research report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective on the stock. UBS Group cut their target price 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, August 8th. Finally, JPMorgan Chase & Co. lowered their price target on Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.05.

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.