State Farm Mutual Automobile Insurance Co. Has $2.73 Billion Stock Holdings in The Walt Disney Company (NYSE:DIS)

Key Points

• State Farm Mutual Automobile Insurance Co. cut its stake in The Walt Disney Company by 5.9%, now owning approximately 27.7 million shares worth about $2.73 billion, making Disney its 12th largest position.
• Walt Disney's earnings results exceeded expectations, reporting $1.61 EPS which topped the consensus estimate of $1.45, although revenue was slightly below expectations at $23.65 billion.
• An average of 20 analysts have given Disney a buy rating, with price targets recently increased to around $140, indicating positive sentiment towards the company's stock.

State Farm Mutual Automobile Insurance Co. cut its position in The Walt Disney Company (NYSE:DIS - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,696,532 shares of the entertainment giant's stock after selling 1,732,568 shares during the period. Walt Disney comprises about 2.5% of State Farm Mutual Automobile Insurance Co.'s portfolio, making the stock its 12th largest position. State Farm Mutual Automobile Insurance Co. owned approximately 1.53% of Walt Disney worth $2,733,648,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DIS. Vanguard Group Inc. raised its holdings in shares of Walt Disney by 1.6% during the first quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant's stock worth $15,383,615,000 after acquiring an additional 2,446,087 shares during the period. Northern Trust Corp raised its holdings in shares of Walt Disney by 10.4% during the fourth quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant's stock worth $2,476,693,000 after acquiring an additional 2,096,431 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Walt Disney by 4.2% during the first 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 acquiring an additional 717,066 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Walt Disney by 21.8% during 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 worth $1,878,142,000 after acquiring an additional 3,016,339 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Walt Disney during the first quarter worth $1,353,607,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on DIS shares. Raymond James Financial restated a "neutral" rating on shares of Walt Disney in a report on Monday. Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Walt Disney in a research note on Monday. Wall Street Zen lowered shares of Walt Disney from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Guggenheim lifted their price target on shares of Walt Disney from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Citigroup lifted their price target on shares of Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $131.18.

Walt Disney Stock Performance

Shares of DIS stock opened at $116.34 on Friday. The company has a market capitalization of $209.17 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.69 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72. The company has a 50-day simple moving average of $119.30 and a 200 day simple moving average of $108.11. 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 announced its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, topping the consensus estimate of $1.45 by $0.16. The business had revenue of $23.65 billion during the quarter, compared to the consensus estimate of $23.69 billion. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. Walt Disney's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 EPS. On average, sell-side analysts predict that The Walt Disney Company will post 5.47 earnings per share 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.

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