Veritas Investment Management LLP reduced its position in shares of Walt Disney Co (NYSE:DIS) by 7.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,950 shares of the entertainment giant’s stock after selling 160 shares during the period. Veritas Investment Management LLP’s holdings in Walt Disney were worth $272,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its stake in Walt Disney by 37.2% in the 1st quarter. FMR LLC now owns 33,901,641 shares of the entertainment giant’s stock valued at $3,764,098,000 after buying an additional 9,190,235 shares in the last quarter. BlackRock Inc. lifted its stake in Walt Disney by 6.5% in the 4th quarter. BlackRock Inc. now owns 92,790,946 shares of the entertainment giant’s stock valued at $10,174,527,000 after buying an additional 5,639,712 shares in the last quarter. Cortland Advisers LLC purchased a new position in Walt Disney in the 4th quarter valued at about $118,918,000. Clearbridge Investments LLC lifted its stake in Walt Disney by 10.5% in the 1st quarter. Clearbridge Investments LLC now owns 10,855,844 shares of the entertainment giant’s stock valued at $1,205,324,000 after buying an additional 1,031,035 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in Walt Disney in the 4th quarter valued at about $106,699,000. 64.27% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Zenia B. Mucha sold 49,561 shares of Walt Disney stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $140.00, for a total value of $6,938,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan N. Braverman sold 94,462 shares of Walt Disney stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $141.18, for a total transaction of $13,336,145.16. The disclosure for this sale can be found here. Insiders have sold a total of 154,423 shares of company stock valued at $21,743,165 in the last 90 days. Insiders own 0.36% of the company’s stock.
Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.41). The firm had revenue of $20.25 billion for the quarter, compared to analyst estimates of $21.40 billion. Walt Disney had a return on equity of 13.08% and a net margin of 19.02%. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.87 EPS. As a group, research analysts expect that Walt Disney Co will post 6 EPS for the current year.
The company also recently declared a Semi-Annual dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, July 5th. Walt Disney’s dividend payout ratio is currently 24.86%.
A number of research firms have weighed in on DIS. Bank of America set a $168.00 target price on shares of Walt Disney and gave the stock a “buy” rating in a research note on Monday, June 24th. BMO Capital Markets raised their target price on shares of Walt Disney from $140.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Morgan Stanley set a $160.00 target price on shares of Walt Disney and gave the stock a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Walt Disney in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $175.00 target price on shares of Walt Disney in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $148.22.
Walt Disney Company Profile
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.
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