The Walt Disney Company (NYSE:DIS) Shares Sold by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA cut its holdings in shares of The Walt Disney Company (NYSE:DIS) by 6.8% in the 3rd quarter, Holdings Channel reports. The fund owned 2,861 shares of the entertainment giant’s stock after selling 209 shares during the period. First Commonwealth Financial Corp PA’s holdings in Walt Disney were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Farallon Capital Management LLC bought a new position in Walt Disney during the 2nd quarter valued at $355,673,000. International Assets Investment Management LLC raised its stake in shares of Walt Disney by 12,574.4% in the 3rd quarter. International Assets Investment Management LLC now owns 3,426,393 shares of the entertainment giant’s stock valued at $329,585,000 after purchasing an additional 3,399,359 shares in the last quarter. FMR LLC lifted its position in shares of Walt Disney by 8.7% during the third quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after purchasing an additional 2,765,389 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Walt Disney by 114.4% during the third quarter. Van ECK Associates Corp now owns 4,307,794 shares of the entertainment giant’s stock worth $414,582,000 after purchasing an additional 2,298,921 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Walt Disney by 10.8% in the second quarter. Bank of New York Mellon Corp now owns 14,883,983 shares of the entertainment giant’s stock worth $1,477,831,000 after purchasing an additional 1,449,730 shares in the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on DIS shares. TD Cowen upped their price objective on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft upped their price target on Walt Disney from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America lifted their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Piper Sandler began coverage on shares of Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Finally, Macquarie lifted their price target on shares of Walt Disney from $91.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.83.

Insider Activity

In other news, EVP Brent Woodford sold 5,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the transaction, the executive vice president now owns 44,055 shares of the company’s stock, valued at $5,005,529.10. The trade was a 10.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total transaction of $42,667,242.84. Following the sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at approximately $25,980,695.19. This represents a 62.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

Shares of NYSE DIS opened at $117.61 on Thursday. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The firm has a market cap of $212.98 billion, a P/E ratio of 43.40, a PEG ratio of 2.16 and a beta of 1.40. The stock has a fifty day moving average price of $99.51 and a two-hundred day moving average price of $97.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.73.

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.