Traders Buy Walt Disney Co (DIS) on Weakness After Insider Selling
Investors purchased shares of Walt Disney Co (NYSE:DIS) on weakness during trading hours on Friday following insider selling activity. $174.87 million flowed into the stock on the tick-up and $146.79 million flowed out of the stock on the tick-down, for a money net flow of $28.08 million into the stock. Of all equities tracked, Walt Disney had the 16th highest net in-flow for the day. Walt Disney traded down ($0.35) for the day and closed at $114.44Specifically, EVP Brent Woodford sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $114.50, for a total value of $229,000.00. Following the completion of the transaction, the executive vice president now directly owns 27,745 shares in the company, valued at $3,176,802.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 13.00% of the company’s stock.
A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price target on shares of Walt Disney from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday. Guggenheim reiterated a “buy” rating and issued a $128.00 price target on shares of Walt Disney in a research report on Tuesday, April 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $124.00 price target on shares of Walt Disney in a research report on Tuesday, April 11th. Goldman Sachs Group Inc set a $138.00 price target on shares of Walt Disney and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Finally, Vetr raised shares of Walt Disney from a “hold” rating to a “buy” rating and set a $118.01 target price on the stock in a report on Monday, April 10th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $116.57.
The stock has a 50-day moving average of $112.40 and a 200 day moving average of $104.65. The firm has a market cap of $180.96 billion, a P/E ratio of 20.66 and a beta of 1.25.
Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Tuesday, February 7th. The entertainment giant reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.07. The firm earned $14.78 billion during the quarter, compared to the consensus estimate of $15.30 billion. Walt Disney had a return on equity of 19.43% and a net margin of 16.29%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share. On average, equities analysts anticipate that Walt Disney Co will post $5.95 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Chesley Taft & Associates LLC increased its position in shares of Walt Disney by 1.5% in the third quarter. Chesley Taft & Associates LLC now owns 274,117 shares of the entertainment giant’s stock worth $25,454,000 after buying an additional 3,970 shares during the period. Financial & Investment Management Group Ltd. acquired a new position in shares of Walt Disney during the third quarter worth about $2,095,000. Northwest Investment Counselors LLC increased its position in shares of Walt Disney by 1.6% in the third quarter. Northwest Investment Counselors LLC now owns 20,182 shares of the entertainment giant’s stock worth $1,874,000 after buying an additional 327 shares during the period. CWM LLC increased its position in shares of Walt Disney by 129.6% in the third quarter. CWM LLC now owns 6,597 shares of the entertainment giant’s stock worth $613,000 after buying an additional 3,724 shares during the period. Finally, American National Bank increased its position in shares of Walt Disney by 3,428.8% in the third quarter. American National Bank now owns 24,984 shares of the entertainment giant’s stock worth $2,320,000 after buying an additional 24,276 shares during the period. 58.65% of the stock is owned by hedge funds and other institutional investors.
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About Walt Disney
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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