Pegasus Asset Management Inc. Purchases 889 Shares of The Walt Disney Company (NYSE:DIS)

by · The Markets Daily

Pegasus Asset Management Inc. lifted its holdings in shares of The Walt Disney Company (NYSE:DIS – Free Report) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,202 shares of the entertainment giant’s stock after purchasing an additional 889 shares during the period. Walt Disney comprises approximately 1.3% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding. Pegasus Asset Management Inc.’s holdings in Walt Disney were worth $3,290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. grew its holdings in Walt Disney by 84.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,000,267 shares of the entertainment giant’s stock valued at $244,754,000 after buying an additional 916,772 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Walt Disney during the 1st quarter valued at $1,490,492,000. Mirae Asset Global Investments Co. Ltd. raised its position in Walt Disney by 4.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 556,658 shares of the entertainment giant’s stock worth $68,113,000 after purchasing an additional 22,568 shares during the period. Nordea Investment Management AB lifted its stake in shares of Walt Disney by 555.9% in the 1st quarter. Nordea Investment Management AB now owns 956,788 shares of the entertainment giant’s stock valued at $117,599,000 after acquiring an additional 810,923 shares during the last quarter. Finally, Arlington Financial Advisors LLC lifted its position in Walt Disney by 456.9% in the first quarter. Arlington Financial Advisors LLC now owns 33,462 shares of the entertainment giant’s stock valued at $4,094,000 after purchasing an additional 27,453 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Price Performance

DIS traded up $0.27 during trading hours on Tuesday, hitting $96.89. The company’s stock had a trading volume of 2,498,586 shares, compared to its average volume of 10,926,778. The Walt Disney Company has a 12 month low of $79.23 and a 12 month high of $123.74. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $91.94 and its 200-day moving average price is $98.60. The stock has a market cap of $176.63 billion, a price-to-earnings ratio of 105.08, a P/E/G ratio of 1.49 and a beta of 1.40.

Walt Disney (NYSE:DIS – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. The company had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.08 billion. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. Walt Disney’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. Sell-side analysts expect that The Walt Disney Company will post 4.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Calvin Mcdonald acquired 11,756 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $85.06 per share, with a total value of $999,965.36. Following the completion of the transaction, the director now directly owns 22,313 shares in the company, valued at $1,897,943.78. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Evercore ISI lowered their price target on Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley cut their price objective on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. UBS Group reduced their target price on Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James reaffirmed a “market perform” rating on shares of Walt Disney in a research report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.05.

View Our Latest Analysis on Walt Disney

About Walt Disney

(Free Report)

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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