Argus Investors Counsel Inc. Sells 2,110 Shares of The Walt Disney Company (NYSE:DIS)

Argus Investors Counsel Inc. cut its holdings in shares of The Walt Disney Company (NYSE:DIS) by 20.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,335 shares of the entertainment giant’s stock after selling 2,110 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Walt Disney were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Mcdonald Partners LLC boosted its position in shares of Walt Disney by 0.5% during the first quarter. Mcdonald Partners LLC now owns 17,975 shares of the entertainment giant’s stock valued at $2,199,000 after buying an additional 88 shares during the last quarter. Sendero Wealth Management LLC boosted its position in Walt Disney by 2.0% in the first quarter. Sendero Wealth Management LLC now owns 4,649 shares of the entertainment giant’s stock worth $569,000 after purchasing an additional 89 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its position in Walt Disney by 3.5% in the first quarter. Regent Peak Wealth Advisors LLC now owns 2,801 shares of the entertainment giant’s stock worth $343,000 after purchasing an additional 94 shares during the last quarter. Horizon Bancorp Inc. IN boosted its position in Walt Disney by 6.1% in the first quarter. Horizon Bancorp Inc. IN now owns 1,674 shares of the entertainment giant’s stock worth $205,000 after purchasing an additional 96 shares during the last quarter. Finally, KFA Private Wealth Group LLC boosted its position in Walt Disney by 4.1% in the first quarter. KFA Private Wealth Group LLC now owns 2,691 shares of the entertainment giant’s stock worth $329,000 after purchasing an additional 106 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Walt Disney from $136.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Piper Sandler started coverage on Walt Disney in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Bank of America lowered their price objective on Walt Disney from $145.00 to $120.00 and set a “buy” rating on the stock in a research 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, Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Walt Disney in a research report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.05.

Walt Disney Price Performance

NYSE:DIS traded up $0.29 during trading hours on Tuesday, reaching $96.91. The stock had a trading volume of 1,630,974 shares, compared to its average volume of 10,922,525. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The Walt Disney Company has a 52 week low of $79.23 and a 52 week high of $123.74. The company has a 50 day moving average price of $91.94 and a two-hundred day moving average price of $98.60. The stock has a market capitalization of $176.67 billion, a PE ratio of 105.08, a PEG ratio of 1.49 and a beta of 1.40.

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

Insiders Place Their Bets

In other news, Director Calvin Mcdonald acquired 11,756 shares of Walt Disney stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $85.06 per share, with a total value of $999,965.36. Following the purchase, the director now directly owns 22,313 shares in the company, valued at $1,897,943.78. The trade was a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

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.