The Walt Disney Company (NYSE:DIS) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. reduced its stake in The Walt Disney Company (NYSE:DIS) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,960 shares of the entertainment giant’s stock after selling 159 shares during the period. Confluence Wealth Services Inc.’s holdings in Walt Disney were worth $1,187,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Walt Disney by 1.5% during the first quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock worth $18,815,185,000 after purchasing an additional 2,325,582 shares during the last quarter. Norges Bank bought a new stake in shares of Walt Disney during the fourth quarter valued at about $1,938,647,000. Bank of New York Mellon Corp boosted its holdings in shares of Walt Disney by 10.8% in the second 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 acquiring an additional 1,449,730 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Walt Disney in the 1st quarter worth $1,490,492,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 acquiring an additional 293,482 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DIS. UBS Group decreased their target price on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group began coverage on shares of Walt Disney in a report on Tuesday, June 25th. They issued a “buy” rating and a $125.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Barclays reduced their price objective on Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Redburn Atlantic raised Walt Disney from a “sell” rating to a “neutral” rating and set a $100.00 price target for the company in a report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.95.

Insiders Place Their Bets

In other news, Director Calvin Mcdonald acquired 11,756 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $85.06 per share, with a total value of $999,965.36. Following the completion of the transaction, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Walt Disney Trading Up 0.6 %

DIS stock traded up $0.57 during trading on Friday, hitting $90.38. 8,403,632 shares of the company traded hands, compared to its average volume of 12,724,822. The company has a 50-day moving average of $93.23 and a 200-day moving average of $103.99. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The Walt Disney Company has a 1 year low of $78.73 and a 1 year high of $123.74. The firm has a market capitalization of $163.91 billion, a PE ratio of 98.24, a P/E/G ratio of 1.34 and a beta of 1.40.

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

Walt Disney Profile

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.