Walt Disney (NYSE:DIS) Trading Down 0.2% Following Insider Selling

The Walt Disney Company (NYSE:DIS) dropped 0.2% during trading on Friday after an insider sold shares in the company. The company traded as low as $105.42 and last traded at $105.59. Approximately 5,445,643 shares changed hands during trading, a decline of 55% from the average daily volume of 12,057,168 shares. The stock had previously closed at $105.80.

Specifically, Director James P. Gorman acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $106.03 per share, for a total transaction of $2,120,600.00. Following the completion of the transaction, the director now owns 20,467 shares of the company’s stock, valued at approximately $2,170,116.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director James P. Gorman acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $106.03 per share, for a total transaction of $2,120,600.00. Following the completion of the transaction, the director now owns 20,467 shares in the company, valued at $2,170,116.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sonia L. Coleman sold 4,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $106.00, for a total transaction of $466,400.00. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Macquarie raised their price target on Walt Disney from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Bank of America raised their price objective on Walt Disney from $130.00 to $145.00 and gave the company a “buy” rating in a report on Monday, April 1st. Evercore ISI cut their target price on Walt Disney from $130.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday. Guggenheim lifted their price target on shares of Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Raymond James increased their target price on shares of Walt Disney from $112.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $126.46.

Walt Disney Stock Performance

The company has a market cap of $194.07 billion, a P/E ratio of 65.31, a P/E/G ratio of 1.42 and a beta of 1.40. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $114.37 and a two-hundred day simple moving average of $101.27.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. The firm had revenue of $22.08 billion for the quarter, compared to analysts’ expectations of $22.12 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. On average, sell-side analysts anticipate that The Walt Disney Company will post 4.7 EPS for the current year.

Institutional Investors Weigh In On Walt Disney

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Trian Fund Management L.P. raised its stake in Walt Disney by 411.6% during the 3rd quarter. Trian Fund Management L.P. now owns 32,868,307 shares of the entertainment giant’s stock worth $2,663,976,000 after acquiring an additional 26,443,257 shares during the period. Norges Bank bought a new stake in shares of Walt Disney during the 4th quarter valued at $1,938,647,000. Jennison Associates LLC purchased a new position in shares of Walt Disney during the 1st quarter valued at $1,490,492,000. ValueAct Holdings L.P. purchased a new stake in Walt Disney in the 4th quarter worth $459,245,000. Finally, First Eagle Investment Management LLC purchased a new stake in Walt Disney in the 3rd quarter worth $326,171,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

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.