Comerica Bank Sells 9,758 Shares of The Walt Disney Company $DIS

Key Points

• Comerica Bank reduced its holdings in The Walt Disney Company by 2.1% in the first quarter, now owning 447,888 shares valued at approximately $44.2 million.
• Walt Disney's latest earnings report showed $1.61 earnings per share, surpassing estimates, although revenue was slightly below expectations at $23.65 billion.
• Analysts have raised price targets for Disney's stock, with Morgan Stanley adjusting theirs from $120 to $140, reflecting growing optimism about the company's performance.

Comerica Bank reduced its holdings in The Walt Disney Company (NYSE:DIS - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 447,888 shares of the entertainment giant's stock after selling 9,758 shares during the quarter. Comerica Bank's holdings in Walt Disney were worth $44,206,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Walt Disney during the 1st quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Walt Disney during the fourth quarter worth about $27,000. Kessler Investment Group LLC grew its position in Walt Disney by 274.0% during the first quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock worth $27,000 after buying an additional 200 shares in the last quarter. Copia Wealth Management bought a new position in Walt Disney during the fourth quarter valued at about $36,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Walt Disney in the 4th quarter valued at approximately $39,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DIS. Jefferies Financial Group lowered Walt Disney from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Evercore ISI lifted their price target on shares of Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Stephens reissued a "buy" rating on shares of Walt Disney in a report on Monday, August 11th. Loop Capital boosted their price target on Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Chardan Capital reissued a "buy" rating on shares of Walt Disney in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $131.18.

Walt Disney Stock Up 0.4%

DIS traded up $0.50 during trading on Wednesday, hitting $118.15. The company had a trading volume of 4,374,074 shares, compared to its average volume of 9,629,432. The company has a market capitalization of $212.42 billion, a PE ratio of 18.52, a PEG ratio of 1.70 and a beta of 1.56. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.32. The Walt Disney Company has a one year low of $80.10 and a one year high of $124.69. The firm's 50-day moving average price is $119.17 and its 200 day moving average price is $108.32.

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