NEXT Financial Group Inc reduced its stake in shares of Walt Disney Company (The) (NYSE:DIS) by 44.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,759 shares of the entertainment giant’s stock after selling 37,313 shares during the period. Walt Disney Company (The) makes up 1.5% of NEXT Financial Group Inc’s portfolio, making the stock its 7th largest position. NEXT Financial Group Inc’s holdings in Walt Disney Company (The) were worth $5,290,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Walt Disney Company (The) during the fourth quarter worth approximately $1,507,183,000. Fisher Asset Management LLC increased its position in shares of Walt Disney Company (The) by 1.2% in the first quarter. Fisher Asset Management LLC now owns 8,846,672 shares of the entertainment giant’s stock worth $1,003,124,000 after buying an additional 101,808 shares during the last quarter. Parnassus Investments CA increased its position in shares of Walt Disney Company (The) by 0.4% in the first quarter. Parnassus Investments CA now owns 5,823,364 shares of the entertainment giant’s stock worth $638,073,000 after buying an additional 20,641 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Walt Disney Company (The) by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 4,799,563 shares of the entertainment giant’s stock worth $500,216,000 after buying an additional 194,040 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Walt Disney Company (The) by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,441,017 shares of the entertainment giant’s stock worth $503,567,000 after buying an additional 18,753 shares during the last quarter. Hedge funds and other institutional investors own 62.35% of the company’s stock.
Walt Disney Company (DIS) opened at 109.12 on Friday. The company has a 50-day moving average of $106.01 and a 200 day moving average of $109.39. Walt Disney Company has a 12-month low of $90.32 and a 12-month high of $116.10. The stock has a market cap of $170.76 billion, a price-to-earnings ratio of 19.03 and a beta of 1.40.
Walt Disney Company (The) (NYSE:DIS) last announced its quarterly earnings results on Tuesday, May 9th. The entertainment giant reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.05. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $13.44 billion. Walt Disney Company (The) had a return on equity of 19.81% and a net margin of 16.63%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. Equities analysts anticipate that Walt Disney Company will post $5.90 earnings per share for the current year.
The company also recently declared a Semi-Annual dividend, which was paid on Thursday, July 27th. Investors of record on Monday, July 10th were paid a $0.78 dividend. The ex-dividend date was Thursday, July 6th. Walt Disney Company (The)’s payout ratio is 27.18%.
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A number of equities analysts have commented on the stock. Bank of America Corporation set a $125.00 price objective on shares of Walt Disney Company (The) and gave the stock a “hold” rating in a research report on Saturday, June 24th. Sanford C. Bernstein restated a “market perform” rating and set a $107.00 price objective on shares of Walt Disney Company (The) in a research report on Thursday, April 6th. Guggenheim restated a “buy” rating and set a $122.00 price objective (down previously from $128.00) on shares of Walt Disney Company (The) in a research report on Wednesday, July 12th. Credit Suisse Group restated an “outperform” rating and set a $125.00 price objective on shares of Walt Disney Company (The) in a research report on Tuesday, July 25th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $124.00 price objective on shares of Walt Disney Company (The) in a research report on Tuesday, April 11th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have given a buy rating to the stock. Walt Disney Company (The) currently has a consensus rating of “Hold” and a consensus target price of $115.95.
In related news, Chairman Robert A. Iger sold 797,578 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $105.09, for a total value of $83,817,472.02. Following the completion of the sale, the chairman now owns 1,566,484 shares of the company’s stock, valued at approximately $164,621,803.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan E. Arnold sold 12,143 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $109.02, for a total value of $1,323,829.86. Following the completion of the sale, the director now directly owns 48,673 shares of the company’s stock, valued at approximately $5,306,330.46. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
About Walt Disney Company (The)
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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