The Walt Disney Company $DIS Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp reduced its stake in The Walt Disney Company by 6.3%, holding 69,446 shares worth approximately $6.86 million after selling 4,690 shares in the 1st quarter.
• The Walt Disney Company recently reported earnings per share (EPS) of $1.61, outperforming analysts' expectations of $1.45, while revenue for the quarter reached $23.65 billion.
• Walt Disney shares have a consensus rating of "Moderate Buy" and a price target of $131.18, with various analysts providing ratings from "buy" to "neutral."

Synovus Financial Corp reduced its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,446 shares of the entertainment giant's stock after selling 4,690 shares during the quarter. Synovus Financial Corp's holdings in Walt Disney were worth $6,855,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Walt Disney by 1.6% in the first quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant's stock valued at $15,383,615,000 after buying an additional 2,446,087 shares during the period. Northern Trust Corp lifted its stake in shares of Walt Disney by 10.4% in 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 position in shares of Walt Disney by 4.2% in 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 acquiring an additional 717,066 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Walt Disney by 21.8% during the 4th 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 buying an additional 3,016,339 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Walt Disney by 4.5% during the 1st quarter. Ameriprise Financial Inc. now owns 14,178,295 shares of the entertainment giant's stock worth $1,399,399,000 after buying an additional 613,414 shares during the period. Institutional investors and hedge funds own 65.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on DIS shares. Jefferies Financial Group lowered Walt Disney from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Citigroup raised their target price on Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on Walt Disney from $130.00 to $138.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Morgan Stanley lifted their price target on Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Evercore ISI upped their price target on shares of Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $131.18.

Walt Disney Stock Performance

Walt Disney stock traded down $0.41 during midday trading on Thursday, hitting $117.68. The stock had a trading volume of 5,678,028 shares, compared to its average volume of 9,606,886. The company has a market capitalization of $211.58 billion, a PE ratio of 18.45, a P/E/G ratio of 1.70 and a beta of 1.56. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The firm's fifty day moving average is $119.18 and its two-hundred day moving average is $108.39. 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 quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.16. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. The company had revenue of $23.65 billion for the quarter, compared to analysts' expectations of $23.69 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. Walt Disney's quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that The Walt Disney Company will post 5.47 EPS for the current 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.