Needham & Company LLC Reaffirms “Buy” Rating for Walt Disney (NYSE:DIS)

Needham & Company LLC reaffirmed their buy rating on shares of Walt Disney (NYSE:DIS) in a report released on Thursday, Benzinga reports. They currently have a $110.00 price objective on the entertainment giant’s stock.

DIS has been the topic of a number of other research reports. Wells Fargo & Company reduced their price target on Walt Disney from $136.00 to $116.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Raymond James reduced their price target on Walt Disney from $123.00 to $101.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on Walt Disney from $135.00 to $125.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Walt Disney in a research report on Tuesday, June 25th. They issued a buy rating and a $125.00 price target on the stock. Finally, Moffett Nathanson dropped their price objective on Walt Disney from $130.00 to $125.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $118.43.

Walt Disney Trading Up 0.9 %

Shares of DIS stock opened at $96.01 on Thursday. The firm has a market capitalization of $175.03 billion, a P/E ratio of 104.36, a P/E/G ratio of 1.53 and a beta of 1.40. Walt Disney has a twelve month low of $78.73 and a twelve month high of $123.74. 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 stock’s fifty day simple moving average is $90.40 and its 200 day simple moving average is $101.30.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The business had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. During the same quarter in the previous year, the company posted $1.03 EPS. Walt Disney’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Walt Disney will post 4.92 EPS for the current fiscal year.

Insider Transactions at Walt Disney

In related news, Director Calvin Mcdonald acquired 11,756 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $85.06 per share, with a total value of $999,965.36. Following the completion of the purchase, the director now directly owns 22,313 shares in the company, valued at approximately $1,897,943.78. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Walt Disney

Several institutional investors have recently modified their holdings of DIS. Gold Investment Management Ltd. bought a new position in shares of Walt Disney in the fourth quarter valued at approximately $28,000. ESL Trust Services LLC bought a new position in shares of Walt Disney in the first quarter valued at approximately $31,000. William B. Walkup & Associates Inc. bought a new position in shares of Walt Disney in the second quarter valued at approximately $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Walt Disney in the fourth quarter valued at approximately $37,000. Finally, Mascoma Wealth Management LLC grew its holdings in Walt Disney by 38.0% during the second quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock valued at $44,000 after purchasing an additional 122 shares during the period. 65.71% of the stock is owned by institutional investors.

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.