Smith Group Asset Management LLC Purchases Shares of 227,361 The Walt Disney Company $DIS

Key Points

• Smith Group Asset Management LLC has acquired a new stake of 227,361 shares in The Walt Disney Company, valued at approximately $28.2 million, making Disney the fund's 25th largest position.
• Other institutional investors have also increased their stakes, with notable increases from DiNuzzo Private Wealth Inc. and Kessler Investment Group LLC, reflecting a growing interest as hedge funds now hold 65.71% of Disney's stock.
• The Walt Disney Company has received favorable analyst ratings with a consensus "Moderate Buy" and an average price target of $132.90, indicating optimism for its future performance.

Smith Group Asset Management LLC purchased a new stake in The Walt Disney Company (NYSE:DIS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 227,361 shares of the entertainment giant's stock, valued at approximately $28,195,000. Walt Disney accounts for 1.8% of Smith Group Asset Management LLC's holdings, making the stock its 25th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. lifted its stake in shares of Walt Disney by 82.5% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 208 shares of the entertainment giant's stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Walt Disney in the 1st quarter valued at about $26,000. Kessler Investment Group LLC lifted its stake 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 purchasing an additional 200 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Walt Disney in the 2nd quarter valued at about $37,000. Finally, RMG Wealth Management LLC acquired a new position in shares of Walt Disney in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 65.71% of the company's stock.

Analysts Set New Price Targets

DIS has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Walt Disney in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on Walt Disney from $134.00 to $140.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Needham & Company LLC reissued a "buy" rating and set a $125.00 price target on shares of Walt Disney in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. boosted their price target on Walt Disney from $130.00 to $138.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Barclays boosted their price target on Walt Disney from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Nineteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $132.90.

Walt Disney Stock Performance

Shares of DIS opened at $113.04 on Friday. The business's 50 day moving average is $114.72 and its two-hundred day moving average is $111.43. 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 cap of $203.24 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.48 and a beta of 1.54. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.32.

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

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.

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