Royal Bank of Canada Cuts Stock Holdings in The Walt Disney Company $DIS

Key Points

• Royal Bank of Canada reduced its stake in The Walt Disney Company by 11.4%, selling 1,453,642 shares, and now holds roughly $1.1 billion in shares.
• Several institutional investors have increased their positions in Disney, with notable increases from Nuveen LLC and Diamond Hill Capital Management, reflecting growing interest in the stock.
• Walt Disney reported $1.61 EPS for the most recent quarter, exceeding expectations, despite slightly lower revenue than anticipated at $23.65 billion.

Royal Bank of Canada reduced its position in The Walt Disney Company (NYSE:DIS - Free Report) by 11.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,286,874 shares of the entertainment giant's stock after selling 1,453,642 shares during the period. Royal Bank of Canada owned 0.63% of Walt Disney worth $1,114,015,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DIS. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Walt Disney in the 1st quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Walt Disney in the 4th quarter valued at about $27,000. Kessler Investment Group LLC boosted its holdings in shares of 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 in the last quarter. Copia Wealth Management bought a new stake in shares of Walt Disney in the 4th quarter valued at about $36,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Walt Disney in the 4th quarter valued at about $39,000. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Stock Performance

Shares of NYSE:DIS traded down $1.01 during trading on Wednesday, hitting $117.26. 6,211,737 shares of the stock traded hands, compared to its average volume of 9,538,762. 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 company has a market cap of $210.83 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.71 and a beta of 1.55. The company has a fifty day moving average price of $119.20 and a two-hundred day moving average price of $108.62. 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 posted its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.16. The firm had revenue of $23.65 billion during the quarter, compared to analyst estimates of $23.69 billion. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. As a group, equities analysts predict that The Walt Disney Company will post 5.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DIS. Rosenblatt Securities raised their price target on shares of Walt Disney from $140.00 to $141.00 and gave the company a "buy" rating in a report on Monday, August 11th. Morgan Stanley lifted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Raymond James Financial reiterated a "neutral" rating on shares of Walt Disney in a research note on Monday, August 11th. Citigroup lifted their target price on shares of Walt Disney from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Guggenheim lifted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.18.

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.