Investment Research & Advisory Group Inc. Sells 29,026 Shares of The Walt Disney Company (NYSE:DIS)

Investment Research & Advisory Group Inc. lessened its stake in shares of The Walt Disney Company (NYSE:DIS) by 98.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 494 shares of the entertainment giant’s stock after selling 29,026 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Walt Disney were worth $48,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Walt Disney by 1.5% during the first quarter. Vanguard Group Inc. now owns 153,769,084 shares of the entertainment giant’s stock valued at $18,815,185,000 after purchasing an additional 2,325,582 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $1,477,831,000 after buying an additional 1,449,730 shares during the period. Legal & General Group Plc grew its stake in Walt Disney by 3.1% in 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 during the last quarter. Jennison Associates LLC bought a new position in Walt Disney in the 1st quarter worth $1,490,492,000. Finally, Price T Rowe Associates Inc. MD lifted its position 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 worth $1,473,252,000 after acquiring an additional 293,482 shares during the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Trading Down 0.8 %

DIS stock opened at $95.43 on Friday. 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 has a market capitalization of $173.97 billion, a price-to-earnings ratio of 103.73, a P/E/G ratio of 1.49 and a beta of 1.40. The business has a fifty day moving average price of $92.36 and a 200 day moving average price of $98.44. The Walt Disney Company has a fifty-two week low of $79.23 and a fifty-two week high of $123.74.

Walt Disney (NYSE:DIS) last announced its 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. The company had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. Walt Disney’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. Analysts expect that The Walt Disney Company will post 4.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Calvin Mcdonald bought 11,756 shares of the 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 purchase, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

DIS has been the topic of several research analyst reports. Raymond James reaffirmed a “market perform” rating on shares of Walt Disney in a research report on Tuesday, October 1st. UBS Group dropped their price target on Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Piper Sandler initiated coverage on Walt Disney in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Evercore ISI reduced their price target on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Walt Disney presently has an average rating of “Moderate Buy” and an average target price of $118.05.

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.