Walt Disney (NYSE:DIS) Trading Down 0.9% - Here's What Happened

Shares of The Walt Disney Company (NYSE:DIS - Get Free Report) dropped 0.9% during trading on Thursday . The stock traded as low as $111.63 and last traded at $111.95. Approximately 1,861,484 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 10,041,393 shares. The stock had previously closed at $112.94.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DIS shares. Citigroup reiterated a "buy" rating and issued a $125.00 target price on shares of Walt Disney in a research note on Wednesday, January 22nd. Barclays upped their target price on shares of Walt Disney from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Wolfe Research upgraded shares of Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective for the company in a report on Monday, April 21st. Prescient Securities dropped their price target on Walt Disney from $130.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 target price on shares of Walt Disney in a research note on Thursday, May 8th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $123.54.

Walt Disney Trading Down 1.1%

The stock has a market capitalization of $200.74 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 1.80 and a beta of 1.49. The business has a 50-day moving average of $94.14 and a 200-day moving average of $104.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.68.

Walt Disney (NYSE:DIS - Get Free Report) last posted 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. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. The firm had revenue of $23.62 billion for the quarter, compared to the consensus estimate of $23.15 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that The Walt Disney Company will post 5.47 EPS for the current year.

Insider Activity

In other Walt Disney news, EVP Brent Woodford sold 1,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total value of $110,840.00. Following the transaction, the executive vice president now directly owns 46,831 shares in the company, valued at approximately $5,190,748.04. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On Walt Disney

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Walt Disney in the 4th quarter worth about $2,415,427,000. Nuveen LLC purchased a new stake in shares of Walt Disney during the 1st quarter valued at about $1,353,607,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Walt Disney by 1,900.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,735,961 shares of the entertainment giant's stock valued at $638,699,000 after buying an additional 5,449,158 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Walt Disney by 75.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 10,858,108 shares of the entertainment giant's stock worth $1,209,050,000 after acquiring an additional 4,680,930 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Walt Disney by 23.4% during the 4th quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant's stock valued at $2,137,637,000 after buying an additional 3,636,742 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Company 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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