Wedge Capital Management L L P NC Has $39.72 Million Stake in The Walt Disney Company $DIS

Key Points

• Wedge Capital Management L L P NC significantly increased its stake in The Walt Disney Company by 8,744.0%, acquiring an additional 316,707 shares, bringing its total to 320,329 shares valued at approximately $39.72 million.
• A number of other hedge funds also expanded their positions in Disney, with notable acquisitions including Kingstone Capital Partners investing around $4.22 billion and Diamond Hill Capital Management increasing their stake by 1,080.7%.
• The consensus rating on Disney's stock remains a "Moderate Buy", with an average target price of $131.18 following several analysts upgrading their price targets in recent reports.

Wedge Capital Management L L P NC boosted its stake in The Walt Disney Company (NYSE:DIS - Free Report) by 8,744.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 320,329 shares of the entertainment giant's stock after buying an additional 316,707 shares during the quarter. Wedge Capital Management L L P NC's holdings in Walt Disney were worth $39,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Walt Disney by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant's stock worth $15,383,615,000 after buying an additional 2,446,087 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Walt Disney during the 2nd quarter valued at $4,220,599,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Walt Disney by 9.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,509,924 shares of the entertainment giant's stock valued at $1,826,930,000 after purchasing an additional 1,642,907 shares in the last quarter. Bank of New York Mellon Corp raised 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 valued at $1,758,968,000 after purchasing an additional 717,066 shares in the last quarter. Finally, Amundi raised its holdings in shares of Walt Disney by 11.4% during the 1st quarter. Amundi now owns 14,882,195 shares of the entertainment giant's stock valued at $1,468,873,000 after purchasing an additional 1,520,513 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company's stock.

Walt Disney Stock Performance

NYSE:DIS traded down $1.15 during midday trading on Friday, reaching $113.71. The stock had a trading volume of 23,387,671 shares, compared to its average volume of 6,289,260. The Walt Disney Company has a 1-year low of $80.10 and a 1-year high of $124.69. The firm's fifty day simple moving average is $117.71 and its 200-day simple moving average is $109.15. 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 stock has a market capitalization of $204.44 billion, a P/E ratio of 17.82, a PEG ratio of 1.65 and a beta of 1.55.

Walt Disney (NYSE:DIS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.16. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. The business had revenue of $23.65 billion for the quarter, compared to analyst estimates of $23.69 billion. During the same period last year, the business posted $1.39 EPS. Walt Disney's revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Walt Disney from $120.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Citigroup raised their price target on shares of Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Stephens restated a "buy" rating on shares of Walt Disney in a report on Monday, August 11th. Wall Street Zen downgraded shares of Walt Disney from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Walt Disney from $130.00 to $138.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Walt Disney presently has an average rating of "Moderate Buy" and a consensus price target of $131.18.

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.