ARGA Investment Management LP Buys 231,024 Shares of The Walt Disney Company (NYSE:DIS)

ARGA Investment Management LP boosted its stake in The Walt Disney Company (NYSE:DIS) by 119.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 423,977 shares of the entertainment giant’s stock after purchasing an additional 231,024 shares during the period. Walt Disney makes up approximately 1.7% of ARGA Investment Management LP’s holdings, making the stock its 20th largest position. ARGA Investment Management LP’s holdings in Walt Disney were worth $51,878,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DIS. Hoxton Planning & Management LLC purchased a new position in shares of Walt Disney during the 1st quarter worth $240,000. DLK Investment Management LLC increased its holdings in Walt Disney by 8.8% in the 1st quarter. DLK Investment Management LLC now owns 31,124 shares of the entertainment giant’s stock valued at $3,808,000 after acquiring an additional 2,527 shares during the last quarter. Beech Hill Advisors Inc. increased its holdings in Walt Disney by 2.8% in the 1st quarter. Beech Hill Advisors Inc. now owns 44,607 shares of the entertainment giant’s stock valued at $5,458,000 after acquiring an additional 1,221 shares during the last quarter. Mechanics Bank Trust Department increased its holdings in Walt Disney by 68.0% in the 1st quarter. Mechanics Bank Trust Department now owns 11,864 shares of the entertainment giant’s stock valued at $1,452,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Walt Disney in the 1st quarter worth about $166,000. Institutional investors own 65.71% of the company’s stock.

Insider Activity

In other news, Director James P. Gorman acquired 20,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average cost of $106.03 per share, for a total transaction of $2,120,600.00. Following the purchase, the director now owns 20,467 shares in the company, valued at $2,170,116.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Sonia L. Coleman sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $121.92, for a total value of $226,405.44. Following the completion of the sale, the executive vice president now directly owns 4,400 shares in the company, valued at $536,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James P. Gorman purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of $106.03 per share, with a total value of $2,120,600.00. Following the completion of the transaction, the director now directly owns 20,467 shares of the company’s stock, valued at $2,170,116.01. The disclosure for this purchase can be found here. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

DIS has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Walt Disney in a report on Tuesday, May 7th. Daiwa Capital Markets reissued a “buy” rating and issued a $133.00 price objective on shares of Walt Disney in a research report on Monday, April 1st. JPMorgan Chase & Co. started coverage on shares of Walt Disney in a research report on Thursday, April 11th. They issued an “overweight” rating and a $140.00 price objective for the company. Raymond James boosted their price objective on shares of Walt Disney from $112.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Morgan Stanley boosted their price objective on shares of Walt Disney from $110.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.50.

Walt Disney Stock Performance

DIS traded down $0.22 on Wednesday, reaching $101.98. 3,274,328 shares of the stock were exchanged, compared to its average volume of 11,373,183. The company’s 50-day moving average price is $105.45 and its 200 day moving average price is $104.55. The Walt Disney Company has a fifty-two week low of $78.73 and a fifty-two week high of $123.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.75 and a quick ratio of 0.69. The firm has a market capitalization of $185.91 billion, a PE ratio of 110.86, a PEG ratio of 1.27 and a beta of 1.40.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The company had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.12 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Walt Disney Company will post 4.75 EPS for the current fiscal year.

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.