Cubic Asset Management LLC increased its stake in Walt Disney Co (NYSE:DIS) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,368 shares of the entertainment giant’s stock after purchasing an additional 2,006 shares during the period. Walt Disney accounts for about 1.4% of Cubic Asset Management LLC’s portfolio, making the stock its 25th largest position. Cubic Asset Management LLC’s holdings in Walt Disney were worth $4,985,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Walt Disney by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,803,049 shares of the entertainment giant’s stock worth $10,497,824,000 after purchasing an additional 2,131,932 shares in the last quarter. Northern Trust Corp boosted its stake in Walt Disney by 2.5% in the 2nd quarter. Northern Trust Corp now owns 20,462,287 shares of the entertainment giant’s stock worth $2,174,118,000 after purchasing an additional 500,349 shares in the last quarter. Legal & General Group Plc boosted its stake in Walt Disney by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 8,186,026 shares of the entertainment giant’s stock worth $806,872,000 after purchasing an additional 300,973 shares in the last quarter. Parnassus Investments CA boosted its stake in Walt Disney by 19.3% in the 3rd quarter. Parnassus Investments CA now owns 6,941,130 shares of the entertainment giant’s stock worth $684,187,000 after purchasing an additional 1,123,949 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Walt Disney by 7.8% in the 2nd quarter. Swiss National Bank now owns 5,777,328 shares of the entertainment giant’s stock worth $613,841,000 after purchasing an additional 420,200 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.
DIS has been the subject of a number of recent analyst reports. Vetr cut shares of Walt Disney from a “buy” rating to a “hold” rating and set a $106.77 target price for the company. in a research note on Monday, November 13th. Zacks Investment Research raised shares of Walt Disney from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. BMO Capital Markets reissued a “sell” rating and set a $90.00 price target on shares of Walt Disney in a research report on Wednesday, November 22nd. Piper Jaffray Companies reissued a “buy” rating and set a $120.00 price target on shares of Walt Disney in a research report on Wednesday, November 22nd. Finally, Rosenblatt Securities reissued a “hold” rating and set a $115.00 price target on shares of Walt Disney in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Walt Disney has a consensus rating of “Buy” and an average price target of $118.59.
Walt Disney (NYSE:DIS) last posted its earnings results on Tuesday, February 6th. The entertainment giant reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.28. The firm had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.47 billion. Walt Disney had a net margin of 19.61% and a return on equity of 20.44%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. sell-side analysts anticipate that Walt Disney Co will post 6.95 earnings per share for the current year.
In related news, Director Aylwin B. Lewis sold 1,797 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $108.39, for a total value of $194,776.83. Following the completion of the sale, the director now owns 85,636 shares of the company’s stock, valued at approximately $9,282,086.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.
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Walt Disney Profile
The Walt Disney Company is an entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations.
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