The Walt Disney Company (NYSE:DIS) Stake Raised by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in The Walt Disney Company by 9.1% during the first quarter, owning 553,523 shares valued at approximately $54.6 million.
• Recent analyses from multiple brokerages have raised their target prices for Disney stock, with figures between $140.00 and $144.00, reflecting a general sentiment of a "buy" rating among analysts.
• Walt Disney reported $1.45 earnings per share for the last quarter, exceeding expectations and marking a 7.0% increase in revenue year-over-year compared to the previous year.

Mackenzie Financial Corp grew its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 553,523 shares of the entertainment giant's stock after buying an additional 46,381 shares during the period. Mackenzie Financial Corp's holdings in Walt Disney were worth $54,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Planning Directions Inc. bought a new stake in shares of Walt Disney during the first quarter valued at approximately $326,000. Trek Financial LLC raised its holdings in shares of Walt Disney by 479.9% during the fourth quarter. Trek Financial LLC now owns 36,320 shares of the entertainment giant's stock valued at $4,044,000 after buying an additional 30,057 shares during the last quarter. WoodTrust Financial Corp raised its holdings in Walt Disney by 6.7% during the first quarter. WoodTrust Financial Corp now owns 96,158 shares of the entertainment giant's stock worth $9,491,000 after purchasing an additional 6,047 shares in the last quarter. Bank of Stockton raised its holdings in Walt Disney by 4.4% during the first quarter. Bank of Stockton now owns 9,091 shares of the entertainment giant's stock worth $897,000 after purchasing an additional 383 shares in the last quarter. Finally, Rheos Capital Works Inc. raised its holdings in Walt Disney by 164.7% during the first quarter. Rheos Capital Works Inc. now owns 395,400 shares of the entertainment giant's stock worth $39,026,000 after purchasing an additional 246,000 shares in the last quarter. Institutional investors own 65.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on DIS. Rosenblatt Securities boosted their target price on Walt Disney from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. UBS Group boosted their target price on Walt Disney from $120.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Jefferies Financial Group raised Walt Disney from a "hold" rating to a "buy" rating and boosted their target price for the stock from $100.00 to $144.00 in a report on Monday, June 30th. Guggenheim boosted their target price on Walt Disney from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Citigroup boosted their target price on Walt Disney from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.13.

Insider Transactions at Walt Disney

In related news, EVP Brent Woodford sold 1,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were 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 directly owned 46,831 shares in the company, valued at approximately $5,190,748.04. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Walt Disney Price Performance

Shares of NYSE:DIS opened at $120.36 on Tuesday. The company's fifty day moving average is $118.13 and its two-hundred day moving average is $107.42. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.34. The Walt Disney Company has a 12-month low of $80.10 and a 12-month high of $124.69. The company has a market cap of $216.38 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.78 and a beta of 1.56.

Walt Disney (NYSE:DIS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.24. The firm had revenue of $23.62 billion during the quarter, compared to analysts' expectations of $23.15 billion. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. Walt Disney's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. Equities analysts expect that The Walt Disney Company will post 5.47 earnings per share for the current fiscal 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.

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