Ledyard National Bank Sells 295 Shares of Walt Disney Co (NYSE:DIS)

Ledyard National Bank lessened its position in shares of Walt Disney Co (NYSE:DIS) by 1.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,337 shares of the entertainment giant’s stock after selling 295 shares during the period. Ledyard National Bank’s holdings in Walt Disney were worth $2,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Walt Disney by 3.3% in the second quarter. Vanguard Group Inc. now owns 131,103,772 shares of the entertainment giant’s stock valued at $18,307,330,000 after purchasing an additional 4,142,604 shares in the last quarter. Phocas Financial Corp. increased its stake in Walt Disney by 1,011,623.0% in the second quarter. Phocas Financial Corp. now owns 65,691,172 shares of the entertainment giant’s stock valued at $91,731,000 after purchasing an additional 65,684,679 shares in the last quarter. Morgan Stanley increased its stake in Walt Disney by 29.9% in the second quarter. Morgan Stanley now owns 27,743,170 shares of the entertainment giant’s stock valued at $3,874,059,000 after purchasing an additional 6,386,504 shares in the last quarter. Northern Trust Corp increased its stake in Walt Disney by 1.2% in the second quarter. Northern Trust Corp now owns 25,509,749 shares of the entertainment giant’s stock valued at $3,562,181,000 after purchasing an additional 300,560 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Walt Disney by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 24,158,044 shares of the entertainment giant’s stock valued at $3,373,429,000 after purchasing an additional 918,097 shares in the last quarter. 68.45% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Brent Woodford sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $146.68, for a total value of $322,696.00. Following the sale, the executive vice president now owns 34,679 shares of the company’s stock, valued at $5,086,715.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

NYSE:DIS opened at $130.26 on Friday. Walt Disney Co has a one year low of $100.35 and a one year high of $147.15. The company has a market cap of $236.21 billion, a PE ratio of 18.40, a PEG ratio of 4.40 and a beta of 0.96. The firm has a 50-day moving average of $132.71 and a 200-day moving average of $135.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.70 and a quick ratio of 0.67.

Walt Disney (NYSE:DIS) last released its earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.41). The company had revenue of $20.25 billion during the quarter, compared to analysts’ expectations of $21.40 billion. Walt Disney had a net margin of 19.02% and a return on equity of 13.08%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 earnings per share. On average, equities research analysts expect that Walt Disney Co will post 5.74 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on DIS shares. Sanford C. Bernstein set a $130.00 price target on shares of Walt Disney and gave the company a “hold” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. set a $150.00 target price on shares of Walt Disney and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Zacks Investment Research raised shares of Walt Disney from a “strong sell” rating to a “hold” rating and set a $120.00 target price for the company in a research report on Tuesday, July 9th. Wells Fargo & Co initiated coverage on shares of Walt Disney in a research report on Monday, September 23rd. They set an “outperform” rating and a $173.00 target price for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Walt Disney in a research report on Friday, September 27th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $151.31.

About Walt Disney

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.

Further Reading: No Load Funds

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Institutional Ownership by Quarter for Walt Disney (NYSE:DIS)

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