Marotta Asset Management purchased a new position in shares of The Walt Disney Company (NYSE:DIS – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,924 shares of the entertainment giant’s stock, valued at approximately $350,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Park National Corp OH raised its stake in shares of Walt Disney by 10.6% during the second quarter. Park National Corp OH now owns 374,318 shares of the entertainment giant’s stock worth $33,419,000 after buying an additional 35,753 shares during the last quarter. First Financial Bank Trust Division raised its stake in shares of Walt Disney by 0.8% during the second quarter. First Financial Bank Trust Division now owns 69,696 shares of the entertainment giant’s stock worth $6,222,000 after buying an additional 519 shares during the last quarter. Callan Capital LLC increased its stake in Walt Disney by 5.2% in the first quarter. Callan Capital LLC now owns 3,228 shares of the entertainment giant’s stock valued at $323,000 after purchasing an additional 160 shares in the last quarter. Bradley Mark J. increased its stake in Walt Disney by 2.4% in the first quarter. Bradley Mark J. now owns 25,726 shares of the entertainment giant’s stock valued at $2,576,000 after purchasing an additional 605 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in Walt Disney in the first quarter valued at approximately $778,000. 61.17% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, EVP Sonia L. Coleman sold 959 shares of Walt Disney stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.05, for a total transaction of $85,398.95. Following the completion of the sale, the executive vice president now owns 961 shares of the company’s stock, valued at approximately $85,577.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by insiders.
Walt Disney Stock Performance
Walt Disney (NYSE:DIS – Get Free Report) last announced its earnings results on Wednesday, August 9th. The entertainment giant reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $22.33 billion during the quarter, compared to the consensus estimate of $22.50 billion. Walt Disney had a net margin of 2.56% and a return on equity of 6.45%. Walt Disney’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, sell-side analysts predict that The Walt Disney Company will post 3.68 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Macquarie downgraded shares of Walt Disney from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $103.00 in a research note on Friday, May 19th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price on shares of Walt Disney in a research note on Monday, August 21st. Rosenblatt Securities upped their target price on shares of Walt Disney from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company reduced their price target on shares of Walt Disney from $146.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, September 5th. Finally, StockNews.com assumed coverage on shares of Walt Disney in a report on Thursday, August 17th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.35.
Walt Disney Company Profile
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. The company engages in the film and episodic television content production and distribution activities, as well as operates television networks under the ABC, Disney, ESPN, Freeform, FX, Fox, National Geographic, and Star brands; and studios that produces films under the Walt Disney Pictures, Twentieth Century Studios, Marvel, Lucasfilm, Pixar, and Searchlight Pictures banners.
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