Grimes & Company Inc. Sells 1,780 Shares of The Walt Disney Company (NYSE:DIS)

Grimes & Company Inc. cut its holdings in The Walt Disney Company (NYSE:DIS) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 164,540 shares of the entertainment giant’s stock after selling 1,780 shares during the period. Grimes & Company Inc.’s holdings in Walt Disney were worth $15,827,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Walt Disney by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock valued at $18,815,185,000 after buying an additional 2,325,582 shares in the last quarter. Bank of New York Mellon Corp increased its position in Walt Disney by 10.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock valued at $1,477,831,000 after buying an additional 1,449,730 shares in the last quarter. Legal & General Group Plc increased its position in Walt Disney by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock valued at $1,417,958,000 after buying an additional 425,438 shares in the last quarter. Jennison Associates LLC bought a new stake in Walt Disney in the 1st quarter valued at about $1,490,492,000. Finally, Price T Rowe Associates Inc. MD increased its position in Walt Disney by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,040,297 shares of the entertainment giant’s stock valued at $1,473,252,000 after buying an additional 293,482 shares in the last quarter. 65.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on DIS. Bank of America decreased their target price on Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler initiated coverage on Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price objective for the company. Wells Fargo & Company decreased their price objective on Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Walt Disney in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on Walt Disney from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Walt Disney presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.05.

Insiders Place Their Bets

In related news, Director Calvin Mcdonald bought 11,756 shares of the company’s 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 completion of the transaction, the director now directly owns 22,313 shares in the company, valued at approximately $1,897,943.78. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

Walt Disney stock traded down $0.30 during trading on Thursday, hitting $95.94. The stock had a trading volume of 305,701 shares, compared to its average volume of 10,862,149. The Walt Disney Company has a 1 year low of $79.23 and a 1 year high of $123.74. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $92.36 and its two-hundred day moving average is $98.44. The stock has a market cap of $174.90 billion, a price-to-earnings ratio of 104.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The business had revenue of $23.20 billion for the quarter, compared to the consensus estimate of $23.08 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Walt Disney’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts predict that The Walt Disney Company will post 4.92 EPS for the current year.

About Walt Disney

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.