Bank of New York Mellon Corp Sells 1,481,697 Shares of The Walt Disney Company $DIS

Bank of New York Mellon Corp lowered its stake in shares of The Walt Disney Company (NYSE:DIS) by 8.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,339,664 shares of the entertainment giant’s stock after selling 1,481,697 shares during the period. Bank of New York Mellon Corp’s holdings in Walt Disney were worth $2,026,282,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Walt Disney by 1.6% during the first quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant’s stock worth $15,383,615,000 after acquiring an additional 2,446,087 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Walt Disney in the 2nd quarter worth $4,220,599,000. Jennison Associates LLC boosted its position in Walt Disney by 9.4% during the second quarter. Jennison Associates LLC now owns 20,676,921 shares of the entertainment giant’s stock valued at $2,564,145,000 after buying an additional 1,774,772 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Walt Disney by 9.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,509,924 shares of the entertainment giant’s stock valued at $1,826,930,000 after buying an additional 1,642,907 shares during the last quarter. Finally, Amundi increased its holdings in shares of Walt Disney by 11.4% in the first quarter. Amundi now owns 14,882,195 shares of the entertainment giant’s stock worth $1,468,873,000 after buying an additional 1,520,513 shares during the period. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Up 0.8%

DIS opened at $112.70 on Monday. The firm’s 50 day simple moving average is $114.12 and its two-hundred day simple moving average is $113.09. The company has a market capitalization of $202.63 billion, a PE ratio of 17.66, a PEG ratio of 1.45 and a beta of 1.54. The Walt Disney Company has a 1-year low of $80.10 and a 1-year high of $124.69. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.16. The business had revenue of $23.65 billion during the quarter, compared to analyst estimates of $23.69 billion. Walt Disney had a return on equity of 9.67% and a net margin of 12.22%.Walt Disney’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. As a group, equities analysts forecast that The Walt Disney Company will post 5.47 EPS for the current year.

Wall Street Analyst Weigh In

DIS has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Chardan Capital reaffirmed a “buy” rating on shares of Walt Disney in a research note on Monday, August 11th. Barclays upped their price target on Walt Disney from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Rosenblatt Securities restated a “buy” rating and set a $141.00 price target on shares of Walt Disney in a report on Friday, October 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $125.00 price objective on shares of Walt Disney in a report on Tuesday, September 23rd. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.90.

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.