Federated Hermes Inc. Trims Holdings in The Walt Disney Company (NYSE:DIS)

Key Points

• Federated Hermes Inc. reduced its holdings in The Walt Disney Company by 12.3%, selling 164,691 shares in the first quarter, leaving it with approximately 1.18 million shares worth $116.2 million.
• Multiple institutional investors initiated new stakes in Disney, which now has institutional ownership at 65.71% of its stock.
• Analysts have increased their price targets for Disney shares, with forecasts ranging from $120.00 to $140.00, indicating a current average rating of "Moderate Buy" with a price target of $128.13.

Federated Hermes Inc. lowered its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,177,574 shares of the entertainment giant's stock after selling 164,691 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Walt Disney worth $116,227,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Walt Disney during the first quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in Walt Disney in the fourth quarter worth approximately $27,000. Kessler Investment Group LLC boosted its holdings in Walt Disney by 274.0% in the first quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Walt Disney in the fourth quarter worth approximately $32,000. Finally, Copia Wealth Management bought a new position in Walt Disney in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 65.71% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Walt Disney from $130.00 to $138.00 and gave the stock an "overweight" rating in a report on Tuesday. Rosenblatt Securities increased their price target on Walt Disney from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Guggenheim increased their price target on Walt Disney from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Wall Street Zen lowered Walt Disney from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $125.00 price target on shares of Walt Disney in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Walt Disney currently has an average rating of "Moderate Buy" and a consensus price target of $128.70.

Insider Transactions at Walt Disney

In other Walt Disney news, EVP Brent Woodford sold 1,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is owned by corporate insiders.

Walt Disney Stock Performance

NYSE:DIS traded down $2.73 during trading hours on Friday, reaching $116.38. The stock had a trading volume of 6,231,044 shares, compared to its average volume of 9,720,263. 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 stock has a 50 day simple moving average of $118.62 and a 200 day simple moving average of $107.66. The Walt Disney Company has a 12-month low of $80.10 and a 12-month high of $124.69. The stock has a market cap of $209.23 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.56.

Walt Disney (NYSE:DIS - Get Free Report) last released its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.24. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The business had revenue of $23.62 billion during the quarter, compared to the consensus estimate of $23.15 billion. During the same period last year, the business posted $1.21 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. On average, research 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.