State of New Jersey Common Pension Fund D cut its holdings in Walt Disney Co (NYSE:DIS) by 28.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,350,000 shares of the entertainment giant’s stock after selling 530,000 shares during the period. Walt Disney comprises about 0.6% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 27th biggest position. State of New Jersey Common Pension Fund D’s holdings in Walt Disney were worth $157,869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Moody Aldrich Partners LLC purchased a new position in Walt Disney in the second quarter valued at approximately $71,061,000. Canton Hathaway LLC purchased a new position in Walt Disney in the third quarter valued at approximately $107,000. Live Your Vision LLC lifted its stake in Walt Disney by 91.6% in the second quarter. Live Your Vision LLC now owns 1,046 shares of the entertainment giant’s stock valued at $113,000 after purchasing an additional 500 shares during the last quarter. Trilogy Capital Inc. purchased a new position in Walt Disney in the first quarter valued at approximately $107,000. Finally, CSat Investment Advisory L.P. purchased a new position in Walt Disney in the second quarter valued at approximately $112,000. 63.11% of the stock is owned by institutional investors.

NYSE:DIS opened at $117.11 on Friday. The firm has a market cap of $173.78 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.75 and a beta of 1.17. Walt Disney Co has a 1 year low of $97.68 and a 1 year high of $120.20. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32.

Walt Disney (NYSE:DIS) last posted its earnings results on Thursday, November 8th. The entertainment giant reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.17. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $13.76 billion. Walt Disney had a return on equity of 21.43% and a net margin of 21.20%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 earnings per share. On average, analysts predict that Walt Disney Co will post 7.08 earnings per share for the current fiscal year.

In related news, EVP Brent Woodford sold 961 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $117.06, for a total value of $112,494.66. Following the sale, the executive vice president now owns 25,737 shares in the company, valued at $3,012,773.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert A. Iger sold 47,733 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $120.00, for a total value of $5,727,960.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,838 shares of company stock worth $9,391,319. Company insiders own 0.38% of the company’s stock.

Several research firms recently commented on DIS. Bank of America set a $144.00 price objective on Walt Disney and gave the company a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Walt Disney from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. B. Riley reiterated a “neutral” rating on shares of Walt Disney in a research note on Friday, November 9th. Morgan Stanley upped their price objective on Walt Disney from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, October 15th. Finally, BMO Capital Markets upped their price objective on Walt Disney from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $121.54.

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Walt Disney Profile

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.

Further Reading: Liquidity

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Institutional Ownership by Quarter for Walt Disney (NYSE:DIS)

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