Pinnacle Associates Ltd. Sells 921 Shares of The Walt Disney Company (NYSE:DIS)

Pinnacle Associates Ltd. trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS) by 0.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 172,796 shares of the entertainment giant’s stock after selling 921 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Walt Disney were worth $15,602,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Jennison Associates LLC acquired a new stake in shares of Walt Disney in the 1st quarter valued at about $1,490,492,000. Capital World Investors grew its stake in shares of Walt Disney by 3,332.4% in the 1st quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock worth $766,903,000 after acquiring an additional 6,084,993 shares in the last quarter. Swedbank AB purchased a new position in Walt Disney in the first quarter worth $493,715,000. Farallon Capital Management LLC purchased a new stake in shares of Walt Disney during the 2nd quarter worth approximately $355,673,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Walt Disney in the 1st quarter worth approximately $425,567,000. Institutional investors own 65.71% of the company’s stock.

Walt Disney Trading Up 0.4 %

Walt Disney stock traded up $0.37 during trading hours on Wednesday, reaching $96.50. The company had a trading volume of 2,357,232 shares, compared to its average volume of 10,790,825. The firm has a market cap of $175.92 billion, a price-to-earnings ratio of 104.49, a P/E/G ratio of 1.49 and a beta of 1.40. The Walt Disney Company has a 12-month low of $80.18 and a 12-month high of $123.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66. The company has a 50-day moving average price of $92.84 and a 200 day moving average price of $97.71.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DIS shares. Barclays decreased their price objective on Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Moffett Nathanson reduced their price objective on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price target on shares of Walt Disney in a report on Wednesday, October 23rd. Piper Sandler assumed coverage on Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Seaport Res Ptn upgraded Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Five 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 stock. According to MarketBeat, Walt Disney presently has a consensus rating of “Moderate Buy” and an average price target of $118.05.

Insider Buying and Selling

In other news, Director Calvin Mcdonald bought 11,756 shares of Walt Disney stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the acquisition, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by insiders.

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.