The Walt Disney Company (NYSE:DIS) Shares Acquired by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. has increased its holdings in The Walt Disney Company by 2.1%, now owning 138,909 shares valued at approximately $13.71 million.
• Major institutional investors have significantly increased their stakes in Walt Disney, with GAMMA Investing LLC raising its holdings by an astonishing 10,567.3% during the first quarter.
• Disney recently reported earnings of $1.45 per share, exceeding estimates, and showing a 7% revenue increase year-over-year, totaling $23.62 billion for the quarter.

Pinnacle Associates Ltd. lifted its holdings in The Walt Disney Company (NYSE:DIS - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,909 shares of the entertainment giant's stock after purchasing an additional 2,890 shares during the period. Pinnacle Associates Ltd.'s holdings in Walt Disney were worth $13,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Walt Disney by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 38,482,309 shares of the entertainment giant's stock worth $4,272,590,000 after purchasing an additional 809,989 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Walt Disney by 10.4% during the 4th quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant's stock worth $2,476,693,000 after purchasing an additional 2,096,431 shares during the last quarter. Norges Bank acquired a new position in shares of Walt Disney during the 4th quarter worth approximately $2,415,427,000. Bank of New York Mellon Corp boosted its holdings in shares of Walt Disney by 4.2% during 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 purchasing an additional 717,066 shares during the last quarter. Finally, 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 purchasing an additional 3,016,339 shares during the last quarter. Hedge funds and other institutional investors own 65.71% of the company's stock.

Walt Disney Trading Down 0.8%

NYSE DIS traded down $0.95 during mid-day trading on Monday, reaching $120.52. 2,048,160 shares of the stock were exchanged, compared to its average volume of 9,791,906. The Walt Disney Company has a 1-year low of $80.10 and a 1-year high of $124.69. The business's fifty day simple moving average is $117.97 and its 200 day simple moving average is $107.34. The stock has a market capitalization of $216.67 billion, a PE ratio of 24.63, a PEG ratio of 1.78 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.67.

Walt Disney (NYSE:DIS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.24. The company had revenue of $23.62 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.21 EPS. On average, research analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DIS shares. 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. Wolfe Research raised shares of Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 price target on the stock in a research report on Monday, April 21st. 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 report on Friday, June 27th. Rosenblatt Securities lifted their price target on shares of Walt Disney from $135.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Finally, Loop Capital lifted their price target on shares of Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $128.13.

Insider Buying and Selling at Walt Disney

In related news, EVP Brent Woodford sold 1,000 shares of Walt Disney stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the transaction, the executive vice president owned 46,831 shares in the company, valued at approximately $5,190,748.04. The trade was a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

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.