Zurcher Kantonalbank Zurich Cantonalbank Has $34.98 Million Stock Position in The Walt Disney Company (NYSE:DIS)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of The Walt Disney Company (NYSE:DIS) by 51.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 387,441 shares of the entertainment giant’s stock after selling 411,025 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Walt Disney were worth $34,982,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Planned Solutions Inc. purchased a new stake in shares of Walt Disney in the fourth quarter worth approximately $26,000. Dark Forest Capital Management LP purchased a new stake in shares of Walt Disney in the first quarter worth approximately $28,000. Worth Asset Management LLC purchased a new stake in shares of Walt Disney in the first quarter worth approximately $29,000. Fortis Group Advisors LLC purchased a new stake in shares of Walt Disney in the third quarter worth approximately $30,000. Finally, MBM Wealth Consultants LLC raised its stake in shares of Walt Disney by 197.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 366 shares of the entertainment giant’s stock worth $33,000 after purchasing an additional 243 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Price Performance

Walt Disney stock opened at $113.89 on Wednesday. The Walt Disney Company has a one year low of $78.73 and a one year high of $123.74. The business has a fifty day moving average price of $113.59 and a 200-day moving average price of $98.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.84 and a quick ratio of 0.77. The firm has a market capitalization of $208.91 billion, a P/E ratio of 70.30, a PEG ratio of 1.64 and a beta of 1.42.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.25. Walt Disney had a return on equity of 7.88% and a net margin of 3.36%. The firm had revenue of $23.50 billion during the quarter, compared to analyst estimates of $23.71 billion. During the same period last year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts forecast that The Walt Disney Company will post 4.66 EPS for the current year.

Walt Disney Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a dividend yield of 0.5%. Walt Disney’s dividend payout ratio (DPR) is presently 18.52%.

Insider Buying and Selling

In related news, EVP Sonia L. Coleman sold 1,857 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $121.92, for a total value of $226,405.44. Following the sale, the executive vice president now owns 4,400 shares in the company, valued at $536,448. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DIS has been the subject of several analyst reports. The Goldman Sachs Group lowered their price objective on Walt Disney from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Walt Disney from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. UBS Group upped their target price on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Bank of America upped their target price on Walt Disney from $130.00 to $145.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Morgan Stanley upped their target price on Walt Disney from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.54.

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.