The Manufacturers Life Insurance Company Purchases 1,055,222 Shares of The Walt Disney Company $DIS

Key Points

• The Manufacturers Life Insurance Company increased its stake in The Walt Disney Company by 29.0%, acquiring an additional 1,055,222 shares in the first quarter, resulting in a total ownership of approximately 4,695,528 shares valued at $463,449,000.
• Walt Disney's stock has received multiple new price targets from analysts, with JPMorgan Chase raising their target from $130 to $138, and Citigroup increasing theirs from $125 to $140, with most analysts maintaining a positive outlook.
• The company reported earnings of $1.61 per share for the last quarter, surpassing analyst expectations of $1.45, and reported revenue of $23.65 billion, slightly below estimates.

The Manufacturers Life Insurance Company increased its stake in The Walt Disney Company (NYSE:DIS - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,695,528 shares of the entertainment giant's stock after acquiring an additional 1,055,222 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.26% of Walt Disney worth $463,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DIS. J. Safra Sarasin Holding AG boosted its position in shares of Walt Disney by 8.1% during the first quarter. J. Safra Sarasin Holding AG now owns 222,747 shares of the entertainment giant's stock valued at $21,983,000 after buying an additional 16,781 shares during the period. Planning Directions Inc. purchased a new position in shares of Walt Disney during the first quarter valued at approximately $326,000. WoodTrust Financial Corp boosted its position in shares of Walt Disney by 6.7% during the first quarter. WoodTrust Financial Corp now owns 96,158 shares of the entertainment giant's stock valued at $9,491,000 after buying an additional 6,047 shares during the period. Bank of Stockton boosted its position in shares of Walt Disney by 4.4% during the first quarter. Bank of Stockton now owns 9,091 shares of the entertainment giant's stock valued at $897,000 after buying an additional 383 shares during the period. Finally, Rheos Capital Works Inc. boosted its position in shares of Walt Disney by 164.7% during the first quarter. Rheos Capital Works Inc. now owns 395,400 shares of the entertainment giant's stock valued at $39,026,000 after buying an additional 246,000 shares during the period. Hedge funds and other institutional investors own 65.71% of the company's stock.

Analysts Set New Price Targets

DIS has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Walt Disney from $130.00 to $138.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. 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. Jefferies Financial Group downgraded shares of Walt Disney from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Evercore ISI lifted their price target on shares of Walt Disney from $134.00 to $140.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. 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. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $131.18.

Walt Disney Price Performance

Shares of DIS opened at $117.68 on Friday. The firm has a market capitalization of $211.58 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.71 and a beta of 1.56. 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 company's fifty day moving average price is $119.18 and its 200-day moving average price is $108.45.

Walt Disney (NYSE:DIS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.16. The firm had revenue of $23.65 billion for 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 earnings per share. On average, equities research analysts predict 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.

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