The Walt Disney Company (NYSE:DIS) Shares Bought by SouthState Corp

Key Points

• SouthState Corp increased its holdings in The Walt Disney Company by 5.2%, owning 48,420 shares valued at approximately $4.78 million.
• Walt Disney's stock has received multiple upgrades and price target increases from analysts, with a consensus rating of "Moderate Buy" and a price target of $131.14.
• The company reported earnings per share (EPS) of $1.61 for the last quarter, exceeding expectations and showing a year-over-year growth in revenue of 2.1%.

SouthState Corp grew its holdings in The Walt Disney Company (NYSE:DIS - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,420 shares of the entertainment giant's stock after purchasing an additional 2,384 shares during the quarter. SouthState Corp's holdings in Walt Disney were worth $4,779,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Walt Disney by 1.6% in the first quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant's stock worth $15,383,615,000 after purchasing an additional 2,446,087 shares during the last quarter. Northern Trust Corp boosted its position in shares of Walt Disney by 10.4% in the 4th quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant's stock worth $2,476,693,000 after purchasing an additional 2,096,431 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Walt Disney by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 17,821,361 shares of the entertainment giant's stock worth $1,758,968,000 after buying an additional 717,066 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Walt Disney by 21.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,867,017 shares of the entertainment giant's stock valued at $1,878,142,000 after buying an additional 3,016,339 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Walt Disney in the first quarter valued at about $1,353,607,000. Hedge funds and other institutional investors own 65.71% of the company's stock.

Analyst Ratings Changes

DIS has been the subject of a number of recent analyst reports. Stephens reiterated a "buy" rating on shares of Walt Disney in a research note on Monday. Citigroup lifted their price objective on Walt Disney from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price objective on shares of Walt Disney in a research note on Thursday. Wall Street Zen downgraded shares of Walt Disney from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Finally, Raymond James Financial reaffirmed a "neutral" rating on shares of Walt Disney in a research note on Monday. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $131.18.

Insider Activity at Walt Disney

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 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 owned 46,831 shares of the company's stock, valued at approximately $5,190,748.04. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Walt Disney Stock Performance

Shares of Walt Disney stock traded up $0.17 during trading on Monday, hitting $112.60. 8,526,534 shares of the company's stock traded hands, compared to its average volume of 8,920,482. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.72 and a quick ratio of 0.66. The Walt Disney Company has a 1 year low of $80.10 and a 1 year high of $124.69. The stock has a market capitalization of $202.45 billion, a P/E ratio of 17.65, a PEG ratio of 1.62 and a beta of 1.56. The business has a 50-day simple moving average of $119.16 and a 200-day simple moving average of $107.98.

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