Karpus Management Inc. Makes New $271,000 Investment in The Walt Disney Company (NYSE:DIS)

Karpus Management Inc. purchased a new position in shares of The Walt Disney Company (NYSE:DIS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,215 shares of the entertainment giant’s stock, valued at approximately $271,000.

A number of other institutional investors have also recently bought and sold shares of the business. InterOcean Capital Group LLC boosted its stake in Walt Disney by 7.1% during the first quarter. InterOcean Capital Group LLC now owns 379,504 shares of the entertainment giant’s stock worth $46,436,000 after buying an additional 25,059 shares in the last quarter. Pitcairn Co. boosted its stake in shares of Walt Disney by 32.6% in the 1st quarter. Pitcairn Co. now owns 55,178 shares of the entertainment giant’s stock valued at $6,752,000 after purchasing an additional 13,563 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Walt Disney by 1.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,699,415 shares of the entertainment giant’s stock valued at $208,156,000 after purchasing an additional 28,748 shares in the last quarter. Vaughan David Investments LLC IL boosted its stake in shares of Walt Disney by 1.3% in the 1st quarter. Vaughan David Investments LLC IL now owns 310,271 shares of the entertainment giant’s stock valued at $37,965,000 after purchasing an additional 3,919 shares in the last quarter. Finally, Twin Capital Management Inc. acquired a new stake in shares of Walt Disney in the 1st quarter valued at $4,067,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Trading Down 0.6 %

NYSE:DIS traded down $0.56 on Thursday, hitting $89.24. 10,757,092 shares of the stock were exchanged, compared to its average volume of 11,327,192. The stock has a market capitalization of $162.69 billion, a price-to-earnings ratio of 97.00, a P/E/G ratio of 1.13 and a beta of 1.40. The Walt Disney Company has a 52 week low of $78.73 and a 52 week high of $123.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.69 and a current ratio of 0.75. The company’s 50-day moving average price is $99.65 and its 200 day moving average price is $105.16.

Walt Disney (NYSE:DIS) last announced its quarterly earnings data on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. The firm had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.12 billion. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. On average, equities research analysts forecast that The Walt Disney Company will post 4.75 earnings per share for the current year.

Insider Activity

In related news, Director James P. Gorman purchased 20,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $106.03 per share, with a total value of $2,120,600.00. Following the purchase, the director now directly owns 20,467 shares in the company, valued at approximately $2,170,116.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James P. Gorman purchased 20,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $106.03 per share, with a total value of $2,120,600.00. Following the purchase, the director now directly owns 20,467 shares in the company, valued at approximately $2,170,116.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sonia L. Coleman sold 4,400 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $106.00, for a total value of $466,400.00. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DIS shares. Evercore ISI reduced their target price on shares of Walt Disney from $130.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Rosenblatt Securities boosted their target price on shares of Walt Disney from $129.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. started coverage on shares of Walt Disney in a research note on Thursday, April 11th. They issued an “overweight” rating and a $140.00 target price on the stock. Argus boosted their target price on shares of Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their price target on Walt Disney from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and an average price target of $126.44.

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.