Associated Banc Corp Sells 12,704 Shares of The Walt Disney Company (NYSE:DIS)

Key Points

• Associated Banc Corp reduced its stake in The Walt Disney Company by 17.7%, holding 58,961 shares worth approximately $5.8 million after selling 12,704 shares in Q1.
• Citigroup and Rosenblatt Securities both raised their price targets for Disney to $140, while the consensus rating for the stock is currently a Moderate Buy with a target price of $129.83.
• The Walt Disney Company reported earnings of $1.45 per share for its last quarter, surpassing analyst expectations of $1.21, and showing a 7% revenue increase year-over-year.

Associated Banc Corp lowered its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,961 shares of the entertainment giant's stock after selling 12,704 shares during the period. Associated Banc Corp's holdings in Walt Disney were worth $5,819,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Waterloo Capital L.P. increased its stake in Walt Disney by 3.2% during the fourth quarter. Waterloo Capital L.P. now owns 3,138 shares of the entertainment giant's stock valued at $349,000 after purchasing an additional 97 shares during the last quarter. Acorns Advisers LLC grew its position in shares of Walt Disney by 2.6% during the fourth quarter. Acorns Advisers LLC now owns 3,826 shares of the entertainment giant's stock worth $426,000 after acquiring an additional 98 shares during the last quarter. Clearstead Trust LLC grew its position in shares of Walt Disney by 0.6% during the first quarter. Clearstead Trust LLC now owns 16,509 shares of the entertainment giant's stock worth $1,629,000 after acquiring an additional 99 shares during the last quarter. Allegheny Financial Group grew its position in shares of Walt Disney by 2.3% during the fourth quarter. Allegheny Financial Group now owns 4,624 shares of the entertainment giant's stock worth $515,000 after acquiring an additional 106 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of Walt Disney by 0.4% during the first quarter. Resonant Capital Advisors LLC now owns 26,119 shares of the entertainment giant's stock worth $2,578,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 65.71% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on DIS. Jefferies Financial Group raised shares of Walt Disney from a "hold" rating to a "buy" rating and upped their price objective for the stock from $100.00 to $144.00 in a report on Monday, June 30th. Barclays upped their price target on shares of Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Citigroup upped their price target on shares of Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley upped their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Wolfe Research raised shares of Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective for the company in a research note on Monday, April 21st. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $129.83.

Insider Activity

In related news, EVP Brent Woodford sold 1,000 shares of Walt Disney stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the transaction, the executive vice president owned 46,831 shares of the company's stock, valued at $5,190,748.04. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by insiders.

Walt Disney Stock Down 2.5%

Walt Disney stock traded down $3.01 during mid-day trading on Wednesday, reaching $115.32. The stock had a trading volume of 21,887,708 shares, compared to its average volume of 7,550,567. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.67. The Walt Disney Company has a fifty-two week low of $80.10 and a fifty-two week high of $124.69. The stock's 50-day simple moving average is $119.08 and its 200-day simple moving average is $107.89. The firm has a market capitalization of $207.31 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.73 and a beta of 1.56.

Walt Disney (NYSE:DIS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.16. The firm had revenue of $23.65 billion during the quarter, compared to analysts' expectations of $23.69 billion. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share. On average, sell-side analysts forecast that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

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.