Drexel Morgan & Co. reduced its position in The Walt Disney Company (NYSE:DIS) by 14.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,033 shares of the entertainment giant’s stock after selling 2,461 shares during the quarter. The Walt Disney makes up about 0.8% of Drexel Morgan & Co.’s investment portfolio, making the stock its 27th largest holding. Drexel Morgan & Co.’s holdings in The Walt Disney were worth $2,642,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of The Walt Disney by 2.2% during the second quarter. BlackRock Inc. now owns 119,480,524 shares of the entertainment giant’s stock worth $21,001,090,000 after purchasing an additional 2,623,659 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in The Walt Disney by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,179,052 shares of the entertainment giant’s stock worth $3,907,959,000 after purchasing an additional 1,685,039 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in The Walt Disney during the 1st quarter valued at approximately $259,279,000. Sustainable Growth Advisers LP raised its position in shares of The Walt Disney by 121.8% during the first quarter. Sustainable Growth Advisers LP now owns 2,479,196 shares of the entertainment giant’s stock valued at $457,462,000 after buying an additional 1,361,257 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in The Walt Disney during the second quarter valued at $198,012,000. 64.10% of the stock is owned by hedge funds and other institutional investors.
NYSE:DIS traded down $3.28 during midday trading on Tuesday, reaching $174.98. 132,428 shares of the stock traded hands, compared to its average volume of 9,579,991. The business has a 50-day moving average of $178.67 and a two-hundred day moving average of $180.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.24. The Walt Disney Company has a 12-month low of $117.23 and a 12-month high of $203.02. The stock has a market capitalization of $317.96 billion, a PE ratio of 292.23, a price-to-earnings-growth ratio of 3.50 and a beta of 1.19.
Several brokerages have recently issued reports on DIS. Evercore ISI reaffirmed a “buy” rating and issued a $210.00 target price on shares of The Walt Disney in a report on Wednesday, September 22nd. BMO Capital Markets increased their price target on shares of The Walt Disney from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, August 13th. Wells Fargo & Company reduced their price objective on The Walt Disney from $216.00 to $203.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays raised their price objective on The Walt Disney from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, August 13th. Finally, Zacks Investment Research downgraded shares of The Walt Disney from a “buy” rating to a “hold” rating and set a $185.00 target price on the stock. in a research note on Wednesday, August 18th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $208.69.
In related news, EVP Brent Woodford sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $186.57, for a total value of $1,492,560.00. Following the sale, the executive vice president now owns 42,620 shares in the company, valued at $7,951,613.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert A. Chapek sold 10,587 shares of the company’s stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $182.00, for a total transaction of $1,926,834.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
The Walt Disney Profile
The Walt Disney Co is a diversified international family entertainment and media enterprise. It operates through the following segments: Media Networks, Parks, Experiences and Products, Studio Entertainment and Direct-to-Consumer and International (DTCI). The Media Networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, radio networks and stations.
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