Meeder Asset Management Inc. Raises Stake in The Walt Disney Company (NYSE:DIS)

Key Points

• Meeder Asset Management Inc. increased its stake in The Walt Disney Company by 192.7%, holding 89,192 shares valued at approximately $8.80 million as of the end of the last quarter.
• The Walt Disney Company reported earnings of $1.45 per share for the most recent quarter, exceeding analysts' expectations and reflecting a 7.0% increase in revenue year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Disney’s stock, with a target price of $128.13, as many investment firms have upgraded their ratings and price targets for the company.

Meeder Asset Management Inc. boosted its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 192.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,192 shares of the entertainment giant's stock after buying an additional 58,725 shares during the quarter. Meeder Asset Management Inc.'s holdings in Walt Disney were worth $8,803,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Waterloo Capital L.P. increased its position in shares of Walt Disney by 3.2% in the 4th 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. Quadrant Capital Group LLC increased its position in shares of Walt Disney by 0.4% in the 4th quarter. Quadrant Capital Group LLC now owns 22,658 shares of the entertainment giant's stock valued at $2,523,000 after purchasing an additional 98 shares during the last quarter. Acorns Advisers LLC increased its position in shares of Walt Disney by 2.6% in the 4th quarter. Acorns Advisers LLC now owns 3,826 shares of the entertainment giant's stock valued at $426,000 after purchasing an additional 98 shares during the last quarter. Allegheny Financial Group increased its position in shares of Walt Disney by 2.3% in the 4th quarter. Allegheny Financial Group now owns 4,624 shares of the entertainment giant's stock valued at $515,000 after purchasing an additional 106 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its position in shares of Walt Disney by 0.4% in the 1st quarter. Resonant Capital Advisors LLC now owns 26,119 shares of the entertainment giant's stock valued at $2,578,000 after purchasing an additional 113 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DIS shares. Guggenheim increased their price objective 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. Citigroup increased their target price on shares of Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wolfe Research raised shares of Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 target price on the stock in a research report on Monday, April 21st. Rosenblatt Securities increased their target price on shares of Walt Disney from $135.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Walt Disney from $130.00 to $138.00 and gave the company an "overweight" rating in a research report on Tuesday. Five research 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 an average target price of $128.70.

Insiders Place Their Bets

In other Walt Disney news, EVP Brent Woodford sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president directly owned 46,831 shares in the company, valued at approximately $5,190,748.04. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Walt Disney Price Performance

Shares of NYSE DIS traded down $2.62 during midday trading on Friday, hitting $116.49. The company had a trading volume of 5,273,472 shares, compared to its average volume of 9,714,834. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.34. The Walt Disney Company has a twelve month low of $80.10 and a twelve month high of $124.69. The business has a 50-day simple moving average of $118.62 and a two-hundred day simple moving average of $107.66. The firm has a market capitalization of $209.43 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.56.

Walt Disney (NYSE:DIS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.24. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. The firm 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 firm posted $1.21 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current 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.