Walt Disney (NYSE:DIS) Stock Price 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. Approximately 2,923,829 shares were traded during trading, a decline of 74% from the average daily volume of 11,184,378 shares. The stock had previously closed at $93.45.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC cut their price objective on Walt Disney from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Raymond James decreased their price objective on shares of Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Evercore ISI dropped their target price on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group started coverage on shares of Walt Disney in a research report on Tuesday, June 25th. They set a “buy” rating and a $125.00 target price for the company. 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.43.

Insider Buying and Selling

In related news, Director Calvin Mcdonald bought 11,756 shares of Walt Disney stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $85.06 per share, with a total value of $999,965.36. Following the acquisition, the director now directly owns 22,313 shares of the company’s stock, valued at $1,897,943.78. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Gryphon Financial Partners LLC purchased a new position in shares of Walt Disney during the fourth quarter worth about $603,000. Assetmark Inc. increased its holdings in shares of Walt Disney by 100.0% in the 4th quarter. Assetmark Inc. now owns 30,298 shares of the entertainment giant’s stock worth $2,736,000 after buying an additional 15,146 shares during the last quarter. TCW Group Inc. raised its position in shares of Walt Disney by 166.4% during the 4th quarter. TCW Group Inc. now owns 46,292 shares of the entertainment giant’s stock valued at $4,183,000 after buying an additional 28,916 shares in the last quarter. ProVise Management Group LLC lifted its holdings in shares of Walt Disney by 7.3% during the 4th quarter. ProVise Management Group LLC now owns 5,546 shares of the entertainment giant’s stock worth $501,000 after acquiring an additional 379 shares during the last quarter. Finally, Congress Wealth Management LLC DE grew its position in Walt Disney by 191.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 11,183 shares of the entertainment giant’s stock worth $1,010,000 after acquiring an additional 7,341 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Price Performance

The firm’s 50-day moving average is $90.67 and its 200-day moving average is $101.88. 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 company has a market capitalization of $170.91 billion, a PE ratio of 101.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40.

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