King Wealth Management Group Trims Stock Holdings in The Walt Disney Company (NYSE:DIS)

King Wealth Management Group reduced its holdings in shares of The Walt Disney Company (NYSE:DIS) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,015 shares of the entertainment giant’s stock after selling 540 shares during the period. King Wealth Management Group’s holdings in Walt Disney were worth $447,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DIS. Jennison Associates LLC boosted its stake in shares of Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock valued at $2,137,637,000 after purchasing an additional 3,636,742 shares during the period. Raymond James Financial Inc. bought a new stake in Walt Disney during the 4th quarter valued at about $358,151,000. FMR LLC boosted its position in Walt Disney by 8.7% in the 3rd quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock valued at $3,310,539,000 after buying an additional 2,765,389 shares during the period. Bank of New York Mellon Corp increased its position in shares of Walt Disney by 15.5% during the fourth quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock worth $1,904,563,000 after acquiring an additional 2,300,912 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Walt Disney by 112.0% during the third quarter. Janus Henderson Group PLC now owns 4,142,991 shares of the entertainment giant’s stock worth $398,508,000 after acquiring an additional 2,188,610 shares during the period. Institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

DIS has been the topic of several research analyst reports. Sanford C. Bernstein increased their price objective on Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Morgan Stanley raised their target price on shares of Walt Disney from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Evercore ISI upped their price target on shares of Walt Disney from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Prescient Securities cut their price objective on shares of Walt Disney from $130.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Macquarie restated a “neutral” rating and set a $110.00 target price on shares of Walt Disney in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.64.

Walt Disney Trading Down 2.0 %

Shares of NYSE:DIS opened at $96.76 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. The Walt Disney Company has a 52-week low of $83.91 and a 52-week high of $123.74. The stock has a market cap of $174.91 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.80 and a beta of 1.41. The business has a 50-day moving average price of $109.35 and a 200-day moving average price of $104.30.

Walt Disney (NYSE:DIS) last released its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. Equities analysts predict that The Walt Disney Company will post 5.47 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.