McCollum Christoferson Group LLC Decreases Stock Holdings in The Walt Disney Company (NYSE:DIS)

McCollum Christoferson Group LLC reduced its stake in shares of The Walt Disney Company (NYSE:DIS) by 89.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,960 shares of the entertainment giant’s stock after selling 51,301 shares during the quarter. McCollum Christoferson Group LLC’s holdings in Walt Disney were worth $573,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC purchased a new stake in Walt Disney in the 1st quarter valued at $1,490,492,000. Capital World Investors boosted its position in shares of Walt Disney by 3,332.4% during the 1st quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock valued at $766,903,000 after acquiring an additional 6,084,993 shares during the last quarter. Swedbank AB purchased a new stake in shares of Walt Disney in the first quarter valued at about $493,715,000. Farallon Capital Management LLC acquired a new stake in Walt Disney during the second quarter worth about $355,673,000. Finally, Ontario Teachers Pension Plan Board purchased a new position in Walt Disney during the first quarter worth about $425,567,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DIS shares. Raymond James reissued a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. UBS Group cut their target price on Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays reduced their target price on Walt Disney from $130.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Walt Disney in a report on Tuesday, June 25th. They set a “buy” rating and a $125.00 price target for the company. Finally, Piper Sandler started coverage on shares of Walt Disney in a report on Wednesday. They issued a “neutral” rating and a $95.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.05.

Insider Buying and Selling

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

Walt Disney Trading Up 2.7 %

NYSE:DIS opened at $96.75 on Thursday. The Walt Disney Company has a 12-month low of $79.23 and a 12-month high of $123.74. The firm has a market cap of $176.38 billion, a PE ratio of 105.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40. 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 stock has a fifty day moving average price of $91.29 and a 200 day moving average price of $99.24.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results 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. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The company had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. During the same quarter last year, the company earned $1.03 EPS. Walt Disney’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that The Walt Disney Company will post 4.92 earnings per share for the current fiscal year.

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.