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

The Walt Disney Company (NYSE:DIS)’s share price dropped 0.6% during mid-day 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 traded hands during trading, a decline of 74% from the average daily volume of 11,184,378 shares. The stock had previously closed at $93.45.

DIS has been the subject of a number of other research reports. Raymond James lowered their target price on Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. UBS Group lowered their price objective on Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC cut their target price on shares of Walt Disney from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI decreased their price target on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Loop Capital cut their price target on shares of Walt Disney from $139.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Walt Disney currently has an average rating of “Moderate Buy” and an average target price of $118.43.

Insider Activity at Walt Disney

In related news, Director Calvin Mcdonald purchased 11,756 shares of Walt Disney stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the acquisition, 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 is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. grew its position in Walt Disney by 84.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,000,267 shares of the entertainment giant’s stock valued at $244,754,000 after purchasing an additional 916,772 shares during the period. Jennison Associates LLC bought a new stake in shares of Walt Disney during the first quarter worth about $1,490,492,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Walt Disney by 4.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 556,658 shares of the entertainment giant’s stock worth $68,113,000 after acquiring an additional 22,568 shares in the last quarter. Rheos Capital Works Inc. raised its holdings in shares of Walt Disney by 41.3% in the 1st quarter. Rheos Capital Works Inc. now owns 175,900 shares of the entertainment giant’s stock worth $21,523,000 after acquiring an additional 51,400 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Walt Disney by 555.9% in the 1st quarter. Nordea Investment Management AB now owns 956,788 shares of the entertainment giant’s stock valued at $117,599,000 after acquiring an additional 810,923 shares in the last quarter. Institutional investors own 65.71% of the company’s stock.

Walt Disney Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The business has a 50 day simple moving average of $90.67 and a 200-day simple moving average of $101.88. The firm has a market cap of $170.91 billion, a price-to-earnings ratio of 101.90, a P/E/G ratio of 1.31 and a beta of 1.40.

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, beating the consensus estimate of $1.20 by $0.19. The company had revenue of $23.20 billion for 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%. Walt Disney’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Equities research analysts expect 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.