Cannon Financial Strategists Inc. Acquires Shares of 4,023 The Walt Disney Company (NYSE:DIS)

Cannon Financial Strategists Inc. bought a new stake in The Walt Disney Company (NYSE:DIS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,023 shares of the entertainment giant’s stock, valued at approximately $399,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 period. Bank of New York Mellon Corp grew its stake in shares of Walt Disney by 10.8% during the second quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock worth $1,477,831,000 after purchasing an additional 1,449,730 shares during the period. Legal & General Group Plc grew its stake in shares of Walt Disney by 3.1% during the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock worth $1,417,958,000 after purchasing an additional 425,438 shares during the period. Jennison Associates LLC acquired a new stake in shares of Walt Disney during the first quarter worth $1,490,492,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Walt Disney by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,040,297 shares of the entertainment giant’s stock worth $1,473,252,000 after purchasing an additional 293,482 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Walt Disney

In related news, Director Calvin Mcdonald purchased 11,756 shares of Walt Disney stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

Shares of Walt Disney stock opened at $94.05 on Wednesday. The Walt Disney Company has a one year low of $78.73 and a one year high of $123.74. The firm has a market cap of $171.46 billion, a price-to-earnings ratio of 102.23, a price-to-earnings-growth ratio of 1.53 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66. The stock’s 50-day moving average is $90.50 and its 200-day moving average is $100.98.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on DIS shares. Loop Capital decreased their price objective on Walt Disney from $139.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. The Goldman Sachs Group started coverage on Walt Disney in a research note on Tuesday, June 25th. They set a “buy” rating and a $125.00 price objective for the company. Bank of America decreased their price objective on Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays decreased their target price on Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.43.

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.