Federation des caisses Desjardins du Quebec Sells 108,605 Shares of The Walt Disney Company $DIS

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in The Walt Disney Company by 19.5%, selling 108,605 shares and now owning 448,233 shares valued at approximately $44.2 million.
• Analysts are optimistic about Disney's stock, with price target increases from major brokerages like JPMorgan Chase and Morgan Stanley, reflecting a broad consensus rating of Moderate Buy and an average price target of $131.18.
• Walt Disney reported $1.61 earnings per share for the last quarter, surpassing analysts' expectations and marking a 2.1% revenue increase year-over-year with a revenue of $23.65 billion.

Federation des caisses Desjardins du Quebec cut its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 448,233 shares of the entertainment giant's stock after selling 108,605 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Walt Disney were worth $44,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC purchased a new stake in shares of Walt Disney in the 4th quarter valued at approximately $27,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Walt Disney in the 1st quarter valued at $26,000. Kessler Investment Group LLC grew its stake in Walt Disney by 274.0% in the 1st quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock valued at $27,000 after buying an additional 200 shares during the last quarter. Copia Wealth Management acquired a new position in Walt Disney in the 4th quarter valued at $36,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Walt Disney in the 4th quarter valued at $39,000. 65.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Chardan Capital reissued a "buy" rating on shares of Walt Disney in a report on Monday, August 11th. Needham & Company LLC reissued a "buy" rating and set a $125.00 price target on shares of Walt Disney in a report on Thursday, August 7th. Barclays raised their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Morgan Stanley raised their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Evercore ISI lifted their price target on shares of Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Walt Disney has an average rating of "Moderate Buy" and an average price target of $131.18.

Walt Disney Price Performance

DIS stock traded down $1.01 during mid-day trading on Wednesday, hitting $117.26. The stock had a trading volume of 6,211,738 shares, compared to its average volume of 7,982,320. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69. The firm has a market capitalization of $210.83 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.71 and a beta of 1.55. The firm has a fifty day simple moving average of $119.15 and a 200 day simple moving average of $108.68.

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

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.