Concord Wealth Partners Acquires 10,344 Shares of The Walt Disney Company (NYSE:DIS)

Concord Wealth Partners lifted its position in The Walt Disney Company (NYSE:DIS - Free Report) by 423.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,787 shares of the entertainment giant's stock after acquiring an additional 10,344 shares during the quarter. Concord Wealth Partners' holdings in Walt Disney were worth $1,262,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Walt Disney by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 38,482,309 shares of the entertainment giant's stock valued at $4,272,590,000 after buying an additional 809,989 shares during the period. Northern Trust Corp grew its position in Walt Disney by 10.4% during the fourth quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant's stock valued at $2,476,693,000 after buying an additional 2,096,431 shares during the period. Norges Bank bought a new position in Walt Disney during the fourth quarter valued at about $2,415,427,000. Bank of New York Mellon Corp grew its position in Walt Disney by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 17,821,361 shares of the entertainment giant's stock valued at $1,758,968,000 after buying an additional 717,066 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Walt Disney by 21.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,867,017 shares of the entertainment giant's stock valued at $1,878,142,000 after buying an additional 3,016,339 shares during the period. Institutional investors own 65.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DIS shares. Guggenheim increased their price target on shares of Walt Disney from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Rosenblatt Securities upped their price objective on shares of Walt Disney from $135.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Morgan Stanley upped their price objective on shares of Walt Disney from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $125.00 price objective on shares of Walt Disney in a report on Thursday, May 8th. Finally, Jefferies Financial Group raised shares of Walt Disney from a "hold" rating to a "buy" rating and upped their price objective for the company from $100.00 to $144.00 in a report on Monday, June 30th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.13.

Walt Disney Price Performance

DIS traded down $0.85 on Friday, reaching $121.36. The company had a trading volume of 9,472,100 shares, compared to its average volume of 9,995,557. The business has a 50 day simple moving average of $116.69 and a 200 day simple moving average of $106.94. The company has a market cap of $218.17 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 1.75 and a beta of 1.56. 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 52-week low of $80.10 and a 52-week high of $124.69.

Walt Disney (NYSE:DIS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.24. The business had revenue of $23.62 billion for the quarter, compared to the consensus estimate of $23.15 billion. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. Walt Disney's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. As a group, sell-side analysts anticipate that The Walt Disney Company will post 5.47 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total value of $110,840.00. Following the sale, the executive vice president directly owned 46,831 shares of the company's stock, valued at $5,190,748.04. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.