Walt Disney (NYSE:DIS) Trading Down 0.6% Following Analyst Downgrade

The Walt Disney Company (NYSE:DIS)’s share price fell 0.6% during trading on Friday after Macquarie lowered their price target on the stock from $94.00 to $91.00. Macquarie currently has a neutral rating on the stock. Walt Disney traded as low as $92.85 and last traded at $92.91. 2,923,829 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 11,184,378 shares. The stock had previously closed at $93.45.

DIS has been the topic of several other research reports. Needham & Company LLC dropped their target price on shares of Walt Disney from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays cut their target price on Walt Disney from $130.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Bank of America dropped their price target on Walt Disney from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI cut their price target on Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Moffett Nathanson lowered their price objective on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.43.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, Director Calvin Mcdonald bought 11,756 shares of Walt Disney stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $85.06 per share, with a total value of $999,965.36. Following the completion of the acquisition, the director now directly owns 22,313 shares in the company, valued at approximately $1,897,943.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DIS. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Walt Disney by 291.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,240 shares of the entertainment giant’s stock valued at $19,882,000 after purchasing an additional 149,140 shares during the period. Clifford Capital Partners LLC lifted its position in Walt Disney by 21.3% in the 2nd quarter. Clifford Capital Partners LLC now owns 165,534 shares of the entertainment giant’s stock worth $16,436,000 after buying an additional 29,044 shares during the last quarter. Cannon Financial Strategists Inc. bought a new stake in shares of Walt Disney in the 2nd quarter worth approximately $399,000. Heritage Wealth Management Inc. purchased a new stake in Walt Disney during the second quarter valued at about $269,000. Finally, Lazari Capital Management Inc. boosted its holdings in Walt Disney by 0.5% during the 2nd quarter. Lazari Capital Management Inc. now owns 66,732 shares of the entertainment giant’s stock valued at $6,626,000 after acquiring an additional 351 shares during the period. 65.71% of the stock is owned by institutional investors.

Walt Disney Price Performance

The stock has a market cap of $169.38 billion, a P/E ratio of 100.99, a PEG ratio of 1.31 and a beta of 1.40. 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 firm’s fifty day moving average price is $90.73 and its 200-day moving average price is $102.10.

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

Walt Disney Company 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.