Wedge Capital Management L L P NC Acquires New Stake in Walt Disney Co (DIS)

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Wedge Capital Management L L P NC acquired a new position in Walt Disney Co (NYSE:DIS) in the second quarter, HoldingsChannel reports. The fund acquired 1,991 shares of the entertainment giant’s stock, valued at approximately $209,000.

Several other institutional investors have also recently modified their holdings of DIS. American Century Companies Inc. raised its position in shares of Walt Disney by 53.4% in the first quarter. American Century Companies Inc. now owns 3,604,766 shares of the entertainment giant’s stock worth $362,063,000 after acquiring an additional 1,255,464 shares during the period. Ruffer LLP raised its position in shares of Walt Disney by 39.1% in the second quarter. Ruffer LLP now owns 3,977,520 shares of the entertainment giant’s stock worth $417,261,000 after acquiring an additional 1,117,959 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Walt Disney by 10,630.8% in the second quarter. Cornerstone Wealth Management LLC now owns 1,022,536 shares of the entertainment giant’s stock worth $9,705,000 after acquiring an additional 1,013,007 shares during the period. SG Americas Securities LLC raised its position in shares of Walt Disney by 512.5% in the first quarter. SG Americas Securities LLC now owns 1,137,319 shares of the entertainment giant’s stock worth $114,232,000 after acquiring an additional 951,642 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Walt Disney by 73.7% in the first quarter. Schroder Investment Management Group now owns 2,174,764 shares of the entertainment giant’s stock worth $218,434,000 after acquiring an additional 923,048 shares during the period. Institutional investors and hedge funds own 67.57% of the company’s stock.

In related news, EVP Alan N. Braverman sold 140,638 shares of the company’s stock in a transaction dated Wednesday, July 11th. The shares were sold at an average price of $107.00, for a total transaction of $15,048,266.00. Following the completion of the sale, the executive vice president now owns 160,316 shares of the company’s stock, valued at approximately $17,153,812. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brent Woodford sold 768 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $104.35, for a total transaction of $80,140.80. Following the sale, the executive vice president now directly owns 28,493 shares of the company’s stock, valued at approximately $2,973,244.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 710,954 shares of company stock valued at $80,620,932. 0.38% of the stock is owned by corporate insiders.

A number of research analysts have weighed in on DIS shares. Bank of America started coverage on shares of Walt Disney in a research report on Friday, July 20th. They issued a “buy” rating and a $144.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $140.00 price objective on shares of Walt Disney in a research report on Wednesday, August 8th. B. Riley decreased their price objective on shares of Walt Disney from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Walt Disney from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Monday, June 18th. Finally, ValuEngine upgraded shares of Walt Disney from a “sell” rating to a “hold” rating in a research report on Friday, June 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. Walt Disney has a consensus rating of “Hold” and a consensus target price of $118.47.

DIS stock opened at $110.97 on Friday. The stock has a market cap of $163.98 billion, a PE ratio of 16.53, a P/E/G ratio of 1.46 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.88 and a quick ratio of 0.81. Walt Disney Co has a 52 week low of $96.26 and a 52 week high of $117.90.

Walt Disney (NYSE:DIS) last released its earnings results on Tuesday, August 7th. The entertainment giant reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.10). The company had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $15.49 billion. Walt Disney had a return on equity of 21.37% and a net margin of 20.76%. During the same period in the prior year, the firm earned $1.58 EPS. equities analysts anticipate that Walt Disney Co will post 6.92 EPS for the current fiscal year.

Walt Disney Company Profile

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.

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Institutional Ownership by Quarter for Walt Disney (NYSE:DIS)

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