Ledyard National Bank Increases Stock Position in The Walt Disney Company (NYSE:DIS)

Ledyard National Bank grew its holdings in shares of The Walt Disney Company (NYSE:DIS) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the entertainment giant’s stock after buying an additional 235 shares during the quarter. Ledyard National Bank’s holdings in Walt Disney were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Walt Disney by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock valued at $18,815,185,000 after buying an additional 2,325,582 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Walt Disney by 10.8% during the 2nd 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 buying an additional 1,449,730 shares in the last quarter. Legal & General Group Plc raised its position in shares of Walt Disney by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock valued at $1,417,958,000 after buying an additional 425,438 shares in the last quarter. Jennison Associates LLC bought a new position in Walt Disney during the 1st quarter valued at about $1,490,492,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Walt Disney by 2.5% during 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 purchasing an additional 293,482 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DIS shares. Evercore ISI cut their price target on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Piper Sandler started coverage on shares of Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price target on the stock. Moffett Nathanson cut their price target on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Macquarie dropped their target price on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, September 19th. Finally, Wells Fargo & Company dropped their target price on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.05.

Insider Activity at Walt Disney

In other news, Director Calvin Mcdonald bought 11,756 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought 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 directly owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The trade was a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

Walt Disney Trading Up 0.2 %

NYSE:DIS opened at $96.78 on Wednesday. The Walt Disney Company has a 52 week low of $79.23 and a 52 week high of $123.74. The firm has a 50 day moving average of $92.16 and a 200 day moving average of $98.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $176.43 billion, a price-to-earnings ratio of 105.20, a PEG ratio of 1.49 and a beta of 1.40.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, beating 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 company had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.08 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. Walt Disney’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.