Busey Bank Cuts Stock Position in The Walt Disney Company $DIS

Key Points

• Busey Bank has reduced its stake in The Walt Disney Company by 2.4% in Q2, now holding 187,713 shares worth approximately $23.28 million.
• Walt Disney reported better-than-expected earnings with an EPS of $1.61, surpassing analysts' estimates of $1.45, though revenue fell slightly short of expectations.
• Research analysts have set new price targets for Disney, with UBS and Barclays raising their prices to between $138.00 and $140.00, indicating a buy or overweight rating for the stock.

Busey Bank cut its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 187,713 shares of the entertainment giant's stock after selling 4,553 shares during the quarter. Busey Bank's holdings in Walt Disney were worth $23,278,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Walt Disney during the 1st quarter worth approximately $26,000. Kessler Investment Group LLC lifted its holdings in shares of Walt Disney by 274.0% during the first quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock worth $27,000 after buying an additional 200 shares in the last quarter. Copia Wealth Management acquired a new stake in shares of Walt Disney during the fourth quarter worth $36,000. Vermillion Wealth Management Inc. bought a new position in Walt Disney during the fourth quarter worth about $39,000. Finally, First PREMIER Bank grew its position in shares of Walt Disney by 72.2% during the 1st quarter. First PREMIER Bank now owns 489 shares of the entertainment giant's stock worth $48,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company's stock.

Walt Disney Price Performance

Shares of DIS stock traded down $0.55 on Tuesday, reaching $112.01. The company's stock had a trading volume of 4,722,881 shares, compared to its average volume of 9,481,416. The company has a market capitalization of $201.38 billion, a P/E ratio of 17.55, a PEG ratio of 1.65 and a beta of 1.55. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.32. The stock's 50 day simple moving average is $117.56 and its 200-day simple moving average is $109.22. The Walt Disney Company has a 12-month low of $80.10 and a 12-month high of $124.69.

Walt Disney (NYSE:DIS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.16. Walt Disney had a return on equity of 9.67% and a net margin of 12.22%.The business had revenue of $23.65 billion for the quarter, compared to analyst estimates of $23.69 billion. During the same period in the prior year, the company earned $1.39 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Walt Disney from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Guggenheim increased their price target on shares of Walt Disney from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Chardan Capital restated a "buy" rating on shares of Walt Disney in a research report on Monday, August 11th. Raymond James Financial restated a "neutral" rating on shares of Walt Disney in a research report on Monday, August 11th. Finally, Stephens reiterated a "buy" rating on shares of Walt Disney in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $131.18.

About Walt Disney

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.